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Flaherty concerned for borrowers at time of low rates

Blog by Brad Herman | March 21st, 2013

Canadian Finance Minister Jim Flaherty said on Wednesday he was concerned that Canadians might not be able to afford their mortgages when interest rates rise, speaking after he gave Manulife Financial (MFC-T 15.38 0.00 0.00%) a tongue-lashing for offering ultra-low rates.

"Our concern, my concern for a number of years with very low interest rates, is to ensure that people can afford their mortgages when interest rates go up," Flaherty told reporters.