Once again the Bank of Canada has increased interest rates, this time by 75 basis points. What does this increase mean for you? We sat down again with Carina Demedeiros Mortgage Specialist to ask some of your biggest questions.
Early renewal?
Interest rates might continue to rise, should you be looking at early renewals or locking in your rates when shopping for a house?
Variable, or fixed mortages?
Many people are wondering if it’s still a good idea to go with a variable mortgage, or if fixed is the best route.
What is the stress test?
Here’s a throw back to our video going over prime (0:20 sec) and the stress test (1:25).
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Any other questions about getting into the market?
Give me a shout!