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How to Protect Yourself Against Interest Rate Hikes

June 13, 2013

Don’t forget to catch the leading Canadian Mortgage and Canadian Real Estate show, CP24’s Hot Property, every Thursday night at 7:15PM!

This week’s ‘Burning Topic’ will be Rising Mortgage Rates in Canada, a hot topic that has many home-owners in Canada talking.

First thing is first, remember to keep some perspective:

Rate hikes come and Rate hikes go:

Money Saving Tip – Secure the lower rate and save your money:

How much could you have saved last week vs. today?

Using the example of a 5 yr fixed rate mortgage of $100,000 amortized over 25 years, the client who followed the above advice would save the following over the next 5 years:

If you take advantage of terms and conditions in your mortgage contract such as accelerated repayments, your savings could be a lot more!

Missed last week’s Hot Property? Don’t worry, MonsterMortgage.ca and CP24 have you covered!

Watch the last Hot Property here and get up to date with the hottest topics in the GTA Real Estate and GTA Mortgage market.