With rates heading up, now is the time to re-evaluate your mortgage, expert says.
Economists predict the Bank of Canada is set to hike the overnight rate by 0.5 per cent on April 13 to help offset inflation. This follows a 0.25 per cent increase in March.
If you’re a homeowner with a mortgage, you might be wondering if it’s time to refinance and lock in before more rate hikes kick in. “If the penalty is relatively small, then locking in at a mortgage rate today might save you interest down the road compared to where interest rates may be in the next year,” he says.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Faster rate hikes, cooling home prices could put the squeeze on HELOC holdersRising rates and falling home prices could hit those who\u0027ve been borrowing via home equity lines of credit. Here\u0027s what you need to know.
Read more »
Faster rate hikes, cooling home prices could put the squeeze on HELOC holdersRising rates and falling home prices could hit those who\u0027ve been borrowing via home equity lines of credit. Here\u0027s what you need to know.
Read more »
Buy now, sell later? How the dip in real estate has made it trickier to judge the marketMost GTA move-up buyers are probably safe purchasing a new home before they sell the old one, but make sure you don’t overextend, say mortgage and real estate experts.
Read more »
Charities will soon have a higher spending quota to keep charitable status\u0027The absolute minimum\u0027: A growing chorus of experts have called for an increase to avoid excessive wealth accumulation by charities
Read more »
Saskatchewan spring runoff higher than expected: WSA | Globalnews.ca'The slower melt, the cooler the temperatures we’ve seen so far have really helped to make sure the melt is going smoothly,' WSA spokesperson Sean Osmar said.
Read more »