What does this mean if I have a variable rate mortgage?
With today’s 25-basis point rate increase, the homeowner’s variable mortgage rate will increase to 5.80 per cent and their monthly payment will increase to $4,173. This means that the homeowner will pay $98 more per month or $1,176 per year on their mortgage payments, Laird said in a press release.Article content
For those concerned about mortgage payments, she urges people to review them with a mortgage specialist or financial adviser who can help determine whether to switch to another kind of mortgage.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of Canada likely ready to start hiking interest rates againThe Bank of Canada probably isn’t done raising interest rates and they could hike again either today or in July, economists say. Read on.
Source: nationalpost - 🏆 10. / 80 Read more »
Bank of Canada likely ready to start hiking interest rates againThe Bank of Canada probably isn’t done raising interest rates and they could hike again either today or in July, economists say. Read on.
Source: fpinvesting - 🏆 43. / 63 Read more »
Bank of Canada likely ready to start hiking interest rates againThe Bank of Canada probably isn’t done raising interest rates and they could hike again either today or in July, economists say. Read on.
Source: financialpost - 🏆 7. / 85 Read more »
Bank of Canada to announce interest rate decision this morningThe Bank of Canada is set to announce its interest rate decision this morning as speculation about another rate hike heats up.
Source: CTVNews - 🏆 1. / 99 Read more »
Bank of Canada to announce interest rate decision this morning - BNN BloombergThe Bank of Canada is set to announce its interest rate decision this morning as speculation about another rate hike heats up.
Source: BNNBloomberg - 🏆 83. / 50 Read more »