How Does Your Mortgage Affect Your Trigger Rate?
The Bank of Canada (BoC) increased its goal for the overnight lending rate to 3.25% on September 7, 2022, in an effort to combat rising inflation. The Canadian central bank has increased interest rates by 3% since March of this year.
Homeowners, especially those with variable-rate mortgages, have not fared well as a result of the BoC's continuous rate rises. Many run the risk of hitting the...
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