Amid higher rates for longer, Canada’s mortgage structure is exacerbating payment shocks: Desjardins

As higher for longer interest rates weigh on Canadians in the housing market Jimmy Jean, Vice-President and Chief Economist at Desjardins says its time to take a look at 10-year mortgage terms. He says longer renewal terms can help alleviate payment shocks for Canadians, but it has to start with an overhaul of our prepayments legislation and improvements to our mortgage securitization ecosystem. Subscribe to BNN Bloomberg to watch more videos: https://www.youtube.com/BNNBloomberg Connect with BNN Bloomberg: For the latest news visit: https://www.bnnbloomberg.ca For a full video offering visit BNN Bloomberg: https://www.bnnbloomberg.ca/video BNN Bloomberg on Facebook: https://www.facebook.com/BNNBloomberg BNN Bloomberg on Twitter: https://twitter.com/bnnbloomberg BNN Bloomberg on Instagram: https://www.instagram.com/bnnbloomberg BNN Bloomberg on LinkedIn: https://www.linkedin.com/company/bnn-bloomberg -- BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets.