Author: interestratescanada

Buying a home in today’s market can feel daunting. With rising interest rates, increased housing prices, and the challenge of finding affordable financing, many Canadians are asking themselves, “Can I afford a home in this market?” The good news is that tools like mortgage calculators and strategies for managing costs can help you make informed…

1. Start Early: Don’t wait until the last minute to renew your mortgage. Many lenders allow you to renew up to 120 days before your term ends. Use this time to research your options and compare rates. Starting early can help you feel more in control of the process. 2. Shop Around: Don’t assume your…

1. Interest Rates: This is likely the biggest factor for most homeowners. If you locked in a lower rate previously, today’s rates may seem higher, which can increase your mortgage payments. Check both fixed and variable rate options, as they each have their pros and cons depending on market conditions. 2. Current Financial Situation: Review…

Mortgage renewal can be a stressful time for many Canadian homeowners, especially in today’s uncertain economic environment. With fluctuating interest rates, inflation concerns, and personal financial situations, the renewal process brings a mix of financial decision-making and potential anxiety. However, understanding the factors at play and preparing effectively can significantly ease the stress. Why Mortgage…