Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.TORONTO — As more and more homeowners face mortgage renewals at surprisingly higher interest rates, some are facing the dreaded prospect of having to sell a home they can no longer afford.
“It’s not the time to focus on cutting out lattes,” she said. “You want to make sure you’re making some big changes and it needs to be sustainable.”with a lump-sum payment before it gets renewed at a higher rate to help manage the expected increased monthly payment. “It is a bit misleading,” he said. “Whether you are low-income or a high-income person, provided you have a mortgage, these rates are affecting you.”
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