Stewart Hall of HSBC Securities Canada issued his comments on today’s Bank of Canada interest rate announcement.

He concludes from the Bank of Canada announcement that, “A policy change is coming, but it is looking like evolutionary change rather than revolutionary… We continue to forecast a rate hike in September of 2010.”

Given the record levels of Canadian consumer and mortgage debt, as interest rates increase many debtors will find their own “tipping point”, where monthly minimum payments exceed monthly maximum earnings.

“Now” is always a good time to sell over-leveraged assets. Including houses…. Ancient wisdom: Greed blinds.