Your next mortgage renewal could be a shocker. Here’s what to do
During the pandemic, record-low interest rates meant cheap mortgages. These days? Rates are higher. And worries about where they’re headed next mean tough decisions for homeowners. We hear from a Toronto-based millennial about how she’ll manage her finances when her mortgage rate potentially doubles in the new year. Then, Rob speaks with Victor Tran, a licensed mortgage agent and real estate sales representative, about how higher rates are impacting housing affordability, and what your options are if you’re renewing at a much higher rate than before.
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Show Notes
During the pandemic, record-low interest rates meant cheap mortgages. These days? Rates are higher. And worries about where they’re headed next mean tough decisions for homeowners. We hear from a Toronto-based millennial about how she’ll manage her finances when her mortgage rate potentially doubles in the new year. Then, Rob speaks with Victor Tran, a licensed mortgage agent and real estate sales representative, about how higher rates are impacting housing affordability, and what your options are if you’re renewing at a much higher rate than before.
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