As we move out of the COVID pandemic and into the spring 2022 home buying and selling season, the Bank of Canada has started to raise interest rates. Higher interest rates will have an impact on many areas of the economy including home buyers who are finalizing mortgage agreements with their lending institutions.
Please take a moment to read the following comprehensive and easy-to-understand guide on the impact of high interest rates on home ownership:
Rising mortgage interest rates are nothing to fear and knowledge of the topic will ease housing market participants’ anxiety. It’s vital for housing market participants to understand rising mortgage rates, as they impact just about every aspect of buying a home.
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