You may have already heard…Interest rates are up 25 base points to 0.75% as of yesterday, July 12, 2017.
There are a lot of factors involved in this decision by the Bank of Canada, but what does it really mean for YOU?
On a mortgage of $100,000 your monthly payment will rise by approximately $13/month.
On a mortgage of $200,000 your monthly payment will rise by approximately $26/month.
If you’d like some more in-depth information, please see the full report prepared for us by our most trusted mortgage-broker, Barry Patchett, from Dominion Lending Centres – Great Lakes.
The Dave Roach Team is committed to bringing our clients the most up-to-date information on all things house-related. If you have questions or comments please feel free to contact us at any time!