Bank of Canada Rate Announcement
July 12, 2023
The Bank of Canada recently raised interest rates by 0.25%, impacting those with variable-rate mortgages. This may cause an additional $15 on your monthly payment for every $100,000 of your mortgage. We understand your concerns and want to help.
The rate increase is a response to increased consumer and business demand, which is reflected in rising costs and a booming housing market. To navigate these changes, we offer rate protection options for those considering buying a home or with mortgages maturing soon.
If you’ve already consulted with us, we commend your proactive approach. If not, we strongly recommend reaching out. As your dedicated mortgage broker, we’ll explore the best options together, considering different perspectives and strategies. Whether you choose to lock in your rate or explore rate protection, we’ll guide you towards the best decision for your needs.
At Karista Mortgage, we’re committed to making a positive and lasting difference in your financial journey. Reach out to us as your trusted partner in managing interest rate changes.