12/08/2022
MORTGAGE RATES - UPDATE
As expected we saw another hike in the Bank of Canada rate this AM so those of you with a variable rate mortgage or LOC your rate and payment will be a higher yet again than it was yesterday. The silver lining in all that’s going on right now is that we’ve actually seen some drops in the fixed rates (due to bonds being low right now). These lower fixed rates may help in overall qualification (with the stress test still being applied) but there are still some deep discounts available on the variable side of things which makes decision making right now clear as mud.
If you are any one of the following:
Own your home and have questions on a current mortgage coming up for renewal (or you’d just like a review on your current mortgage situation)
Looking to possibly get into the market
Looking to consolidate some outstanding debt in hopes of creating some extra cashflow each month
Shoot me a message and I’ll do my best to try and clear the muddy waters for you. As a mortgage broker I’m here to help…don’t try and navigate this on your own.
