Opinion | What rising rates mean for your finances and home ownership

As the Bank of Canada raises interest rates to help tame inflation, homeowners may be wondering how to avoid losing money and smartly hedge against inflation. What about those who already are carrying high-interest debt and are concerned about having enough cash flow to weather the storm?

In the past, as borrowing costs began to rise, consumers tended to spend less, ultimately resulting in the cooling down of the market. This can be a bit of a pressure release on prices across the country — as may be the hope of the BoC for this next round of hikes. If you choose this route, consolidating your high-interest credit cards and other debts before more rate hikes, you will be well-poised to clear off your existing debts in no time. Thankfully, there has been an increased amount of innovation in the mortgage space, which lends itself to more innovative ways to consolidate debt. Homeowners who are feeling the pinch can turn to new, fairer financial products that can help manage finances before many more interest rate increases.

lol today’s tone deaf article by . Home prices went up 40% last year because of massive money printing. If you *still* lose money after all that appreciation, you clearly shouldn’t have gambled.

Cash in while it’s high.

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