Canadian Housing Next Bubble to Pop? BMO Issues Dire Report

BMO Bank of Montreal (USA) (NYSE:BMO) released a new report today showing that Canadian households are “stress tested” against rising interest rates. The bad news is that 43% of Canadians said that a 2% hike in interest rates would put them on the verge of not being able to afford their homes. Unfortunately, according to BMO Economics, interest rates are expected to rise at the beginning of next year. Here is what the report said of the Canadian housing market: * “The majority of Canadian homeowners (57 per cent) say that they could still afford their home if interest rates were…