Housing Crash in CanadaThe feds are saying Canada will see 20% or more of the total mortgages in Canada run up to their trigger rates within four months. Trigger rates are where the mortgage holder has a variable rate that is about to expire and the new rate will be applied. The rate we are talking about is 1.5% for the old rate due to go up to 5%+. Depending on the size of the mortgages payments, they will increase by as much as $500 per month to $2500. When this happened in Alberta in the 80's three out of every 10 houses on a city block in Calgary and Edmonton went up for sale and over the following two years the average house price dropped from 86 grand to 43 grand all caused by reaching the trigger price. As in the 80's it took a little time for everything to unfold and now it's starting to unravel.