05:09:26 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Manulife Financial Corp
Symbol MFC
Shares Issued 1,812,390,809
Close 2023-11-22 C$ 26.09
Market Cap C$ 47,285,276,207
Recent Sedar Documents

FP says Manulife survey finds mtge holders feel pinched

2023-11-23 08:14 ET - In the News

The Financial Post reports in its Thursday, Nov. 23, edition that while some observers praised the federal Liberal government for recognizing that Canadians are struggling with the sharpest interest rate increases in 40 years, others, such as economist David Rosenberg, who predicted the U.S. housing meltdown in 2008 when he was at Merrill Lynch, warned unintended consequences could prolong the pain. The Post's Barbara Shecter writes that Royal Lepage Real Estate Services chief operating officer Karen Yolevski says, "It's important to see that the government is recognizing that Canadians are feeling some pressure and stress in regard to the speed at which interest rates increased and the differential they may be paying upon renewal." A Manulife Bank survey released Wednesday found one in three homeowners with a mortgage anticipates a potential forced home sale if interest rates increase, while fewer than two in five feel financially prepared to weather further interest rate hikes. Mr. Rosenberg warns Ottawa runs the risk of "creating perverse incentives and unintended consequences in a sector deeply in need of correction."

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