The Bank of Canada's decision to hike the country's interest rate once more could put a damper on dreams of spending the summer at a newly-purchased cottage.
The key rate's hiked by quarter of a percentage point to five per cent will make the purchase of recreational properties even more difficult. Muskoka chairs sit on a dock looking over Boshkung Lake, in Algonquin Highlands, Ont., Monday, Oct. 5, 2020. THE CANADIAN PRESS/Giordano Ciampini