You've Hit Your Mortgage Trigger Rate, Now What?

Описание: How can you prevent yourself from being forced to pay more money on your variable rate mortgage? The Bank of Canada increased interest rates by another 0.75% and they have indicated that this is not the last rate hike in the immediate future. This has pushed a lot of people's mortgages into their mandatory trigger rate increase and even more are right on the brink. This video discusses strategies, tips and tricks for dealing with the Canadian Mortgage Trigger Rate Phenomena and everything you need to know to find your trigger rate amount.

#mortgagerates #bankofcanada #triggerrate #canadianrealestate

00:00 Mortgage Trigger Rate Intro
00:14 What Is A Trigger Rate?
00:28 What Causes A Trigger Rate To Trigger?
01:10 Trigger Rate Calculation
01:48 What Happens When My Trigger Rate Happens
02:22 Mortgage Amortization Period Increase
03:15 What Does It Mean When I Hit My Trigger Rate
03:36 Strategies to Avoid or Mitigate Trigger Rates





Disclaimer: Why Finance Matters is not a Financial Advisor, nor are they your Financial Advisor. This YouTube channel is intended for informational, educational and entertainment purposes only. Each individual's circumstances are different and generalized knowledge may not apply in each individual case. All people should do their own research from a wide variety of sources before making any financial decisions.