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  "uri": "at://did:plc:dpu6442itn35fdayujb3ehs5/app.bsky.feed.post/3ld72ib3tnqo2",
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    "bridgyOriginalText": "<p>So in essence, Canada’s banking cartel has decided to artificially inflate the cost of fixed-rate mortgages, in order to lure buyers into variable-rate mortgages with low rates, leaving the possibility open for future increases and potential defaults for folks that get fooled into spending beyond their means.</p><p>How is this allowed?</p><p>“Despite the substantial reduction in borrowing costs tied to the central bank’s benchmark rate, BMO senior economist Robert Kavcic warned in a note to clients Thursday that fixed mortgage rates in Canada may have already hit their floor.”</p><p><a href=\"https://infosec.exchange/tags/CDNPoli\" class=\"mention hashtag\" rel=\"tag\">#<span>CDNPoli</span></a> <a href=\"https://infosec.exchange/tags/CDNFinance\" class=\"mention hashtag\" rel=\"tag\">#<span>CDNFinance</span></a></p><p><a href=\"https://globalnews.ca/news/10915042/bank-of-canadas-rate-cut-mortgage-impact/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" translate=\"no\"><span class=\"invisible\">https://</span><span class=\"ellipsis\">globalnews.ca/news/10915042/ba</span><span class=\"invisible\">nk-of-canadas-rate-cut-mortgage-impact/</span></a></p>",
    "bridgyOriginalUrl": "https://infosec.exchange/@Crispius/113646113871675967",
    "createdAt": "2024-12-13T15:01:19.000Z",
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        "description": "",
        "title": "Original post on infosec.exchange",
        "uri": "https://infosec.exchange/@Crispius/113646113871675967"
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    "langs": [
      "en"
    ],
    "text": "So in essence, Canada’s banking cartel has decided to artificially inflate the cost of fixed-rate mortgages, in order to lure buyers into variable-rate mortgages with low rates, leaving the possibility open for future increases and potential defaults for folks that get fooled into spending […]"
  }
}