Rising interest rates are a tool being used to slow down inflation in Canada. As we approach another announcement by the Bank of Canada many people are already feeling the pressure.
Denny and Monica provide some options for homeowners who are worried about how these interest rate increases will affect their monthly budget and ability to afford their mortgage payments.
This episode will cover the effects of variable versus fixed -rate mortgages, the option of adding a rental unit in your home for more income, the pros and cons of refinancing your mortgage, the advantages of extending your amortization period to 30 years, and whether or not you should sell or keep your home at this time.
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