01/07/2015
Rates will inevitably rise. This is some good basic advise on what to do to prepare.
As for concept number 2, I cannot fully agree. Do not lock in those variable rate mortgages. Rather, bump up your payment today while Prime is still at 3%. The impact this could have on principal reduction over the next few years could be big.
Call me anytime to discuss your options.
http://www.cbc.ca/news/business/interest-rate-hike-4-ways-canadians-should-prepare-1.2890376
A number of analysts contacted by CBC News offer their advice on how Canadians should prepare for higher interest rates, which are expected to arrive later this year.