Calgary landlords can’t afford property costs after interest hikes

Due to the 10 hikes in federal interest rates since March 2022, landlords in Calgary are struggling to cover their mortgage payments and other costs. Some landlords have been forced to increase rents on their tenants to make up for the added expenses, while others have had to sell their rental properties in order to avoid financial losses. The Bank of Canada's decision to halt a hike in the interest rate on Sept. 6 was called a "welcome relief" by Finance Minister Chrystia Freeland, but the long-term effects of rising interest rates on Calgary landlords remain to be seen.

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