| If you are like many Canadians, debt freedom has become a high financial priority. A recent survey found that 76% of those surveyed indicated this has become their major financial goal.
Canadians enjoy more home equity than their American counterparts (those with mortgages in Canada average 51% equity), but we also know that Canadian’s are carrying record amounts of high interest, unsecured debt.
With mortgage rates still at historical lows, chances are you’ve considered breaking your current mortgage and renewing now, before rates rise again.
A mortgage refinance to pay off high interest debt can do many things to help you reach your goal of debt freedom sooner – but there will likely be penalties and refinance costs that must be taken into consideration as well. We recommend that you allow an Accredited Mortgage Professional to do a Refinance Savings Analysis to help you decide if refinancing now is the right solution for you.
Lisa |
