December 3, 2021

When rates increase, what will happen to your variable mortgage payment?

A lot of chatter about rate hikes in 2022, the narrative seems to change week to week, however let’s assume rates will not stay this low forever. The common and logical line of thinking is that when banks raise their prime rate homeowners with variable rate mortgages will see their monthly payments increase based on the increase in prime rate. What happens to the monthly payment varies on which...

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