I was recently once again a guest on the the Build Wealth Canada Podcast, hosted by Kornel Szrejber.
With the significant increase in interest rates over the past year, and with home buying and selling season right around the corner, I thought it would be great to go over the implications of this higher interest rate environment that we’re in.
Whether you’re getting a new mortgage, or are considering refinancing, we tackle whether you should go with a variable rate or fixed rate mortgage in this current interest rate environment.
There could also be some new mortgage rules coming out this spring as well, so we cover what those are so that you can be better prepared.
You might have also been experiencing quite a bit of a payment shock if you hold a variable rate mortgage, with a drastic increase in your monthly mortgage payments. And, if you’re a fixed rate mortgage holder, then you’re not out of the woods either, as when your mortgage inevitably comes up for renewal, you might very well be forced into a much higher rate on your new mortgage than what you’ve been used to over the past few years. We’re going to cover this new challenge that you may be facing, with these higher rates, along with some things you can do to lower your monthly mortgage payments, despite these increases in rates.
- Listen to it on Apple Podcasts.
- Listen to it on Spotify.
- Listen to it on Google Podcasts.