With interest rates rising, it’s only normal that I get asked this question a lot. Should I lock in my mortgage?
The reality is, that there is no one answer to this. When working with a client, we evaluate their personal mortgage situation. Everyone is unique and therefore we cannot recommend a locked-in rate for every single person. For some, it’s a great idea, for others it makes more sense to remain variable.
The Bank of Canada only meets eight times per year to determine an overnight rate increase, therefore we have an idea when rates will increase. As your mortgage broker, I’ll work with you to ensure you’re mortgage is the best that it can be for you and your financial situation.
If you want to check in on your mortgage, get in touch today!