There’s been some great material at the last few REIN meetings about mortgages, particularly timely given the Bank of Canada’s decision to raise prime.
Don Campbell was on BNN, CBC, Alberta Primetime and a couple others talking about the best way to approach the coming rate hikes. Watch the video or scroll under to get the quick skinny.
The best option is to stay variable and make optional payments to bring your payment level up to the same level as the fixed rate payments. It’ll save you tens of thousands of dollars.