Interest rates are at 18-year highs in Canada and if you got a mortgage in the last few years, you're probably dealing with higher mortgage payments today. If rates keep rising, what potential challenges will come up for mortgage holders? What happens when you hit a trigger rate? What do costly mortgages mean for renters? On today's podcast, mortgage expert extraordinaire Ron Butler returns to discuss the impact five straight interest rate hikes have had on mortgages and whether now is a good time to buy. Ron also shares a special announcement at the end of the podcast – be sure to tune in for some great insights and practical advice.

Links:

Ron Butler on Twitter: https://twitter.com/ronmortgageguy

High Interest Rates and Debt: What Can You Do/ https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/

Average Toronto House Prices: https://wowa.ca/toronto-housing-market

Butler Mortgage (Mortgage Rates): https://www.butlermortgage.ca/mortgage-calculator/

Show 293: Debt, HELOCs, and The New World of Mortgage Lending with Ron Butler https://www.youtube.com/watch?v=VDSd6z5EJzA

Show 334: Mortgages & Home Equity Refinancing: What Are The Risks in 2021? https://www.youtube.com/watch?v=-CSt5J7CIQ0

Show 376: Should You Help Your Child Get a Mortgage? with Ron Butler https://www.youtube.com/watch?v=INc3t7ikv-w

Show 403: What's Happening Now that Mortgage Rates Are Up? https://www.youtube.com/watch?v=Iw-HtqgOgJM