Secure a Low Rate

July 20th, 2020

Interest rates may be low right now, but what would happen if they increase? Can you afford it? An increase in the interest rate will increase your future monthly payments.

For example, if interest rates rise from 5% to 7%, renewing a $250,000 mortgage will cost an extra $300 per month.

It’s always important to secure a mortgage payment that you can comfortably afford now and also when/if interest rates increase.

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