That’s what the Montreal Gazette is saying today.

Apparently a new survey done this year shows that 1 in 5 Canadian homebuyers feel ok with their current debt levels – but another increase in interest rates could make things tough for a lot of Canadians.

The Canada Mortgage and Housing Corporation ended up surveying over 2,500 people about things relating to Canada home mortgage levels. These surveys were done before three consecutive hikes in interest rates. Interest rates went from around 5.2 – 6.2 % in less than a month.

That’s a pretty quick increase. I guess we’ll see how things go from here.