Do you have a variable rate mortgage or Line of Credit?
Or even a credit card?
Your payments are going to start increasing and probably continue to do so every few months in 2022. Thus signals the Bank of Canada (they set the interest rates).
Prepare yourself with this free calculator.
Enter your current monthly payment and see what your new payments might be if interest rates are increased by 0.25% 0.5% and 0.75%. …. Which they probably will be. But now you’ll be prepared.
Forward this to anyone else who may be about to face rate increases.
Get your FREE CALCULATOR straight to your inbox now