Canada: As Rates Rise, Brace for Mortgage Renewal Time

The era of pleasant surprises for people renewing their mortgages is over. After five years of trending lower, mortgage rates have reversed course and started to rise. Aspiring first-time home buyers are being priced out of the market by these increases, but at least they’ve avoided a costly mortgage entanglement. Existing homeowners may simply have to pay more.

via As rates rise, brace for mortgage renewal time – The Globe and Mail.

 

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