What is a Variable Rate Mortgage?
A variable rate mortgage is where the interest rate of your mortgage fluctuates with the prime rate of your bank as well as other mortgage lenders. What determines the prime…
Will the Bank of Canada rate increase affect your Mortgage Payment?
Will the Bank of Canada rate increase your Mortgage Payment? Yes, if you have a variable-rate mortgage or a blended mortgage, your payment amounts will increase. No, if you have…