The big question on the mind of many Canadian homeowners minds these days revolves around interest rates. With the Bank of Canada’s overnight interest rate popping significantly over the last two years, homeowners with a mortgage are wondering what is their next move. 

While those whose fixed interest rate mortgage might be coming up for renewal over the next 6-18 months might be wondering what their next move is, those who took on a variable rate mortgage over the past few years are wondering what they should do now.

You’ll learn

• Should you lock-in a variable rate mortgage or a fixed rate now, later this year, or never?
• How and why interest rates have spiked so high, so fast comparatively to the past and where might we be going next? 
• And how can you select the best mortgage terms for your personality and financial situation? 

Resources: 

• A Timeline of Bank of Canada Rate Hikes [BNN Bloomberg]
• The topic of this episode was originally covered on our social media channels on Facebook, LinkedIn, Instagram, and Twitter.
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Canadian Wealth Secrets is an informative podcast that digs into the intricacies of building a robust portfolio, maximizing dividend returns, the nuances of real estate investment, and the complexities of business finance, while offering expert advice on wealth management, navigating capital gains tax, and understanding the role of financial institutions in personal finance.