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Rising Interest Rates, New Mortgage Rules, and Variable vs Fixed Mortgages in Canada for 2023

Build Wealth Canada Podcast

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Can Credit Unions Be a Great Option for Mortgages?

A lot of people are facing payment shocks right now. If your mortgage is coming up for renewal in the next few months and you currently are locked into a low fixed rate, you can expect your payment to jump out renewal. There are some options if you have a specific type of mortgage without getting into too many details called like collateral mortgage. Another option is by just refinancing your mortgage and stretching out the amortization period. But yeah, definitely discuss with a mortgage broker if you're not happy or try to see if there's other potential options available.

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