Let me ask you the same question worded differently; Will your mortgage interest rate triple? If rates triple, then payments increase 45%. Let’s go deeper, using 2% as a starting rate, because that’s who the BOC is worried about – you 2%’ers. If rates double, to 4%, the payment rises […]
Monthly Archives: June 2022
2 posts
As expected, the Bank of Canada raised prime rate by 0.50% on June 1st. Watch this short video on what it means for you and your mortgage: Variable Rates: Variable rate mortgages or variable home equity lines of credits (HELOC’s), may or may not see a monthly payment increase. Your […]
