Bank of Canada Hikes Rates - Discussing Trigger Rate, Trigger Point and Suggestions.

Описание: With the most recent Bank of Canada interest rate increases, individuals in variable rate mortgages or VIRMs might start reaching their trigger rate. We discuss the difference between the variable mortgages, what all these terms mean, and what you can do to get ahead of it.

0:00 Introduction
0:44 Terms
1:10 ARM vs VRM
1:49 Mortgage Payments
2:24 Amortization
2:47 VRM and features
4:28 Trigger Rate
5:40 Negative Amortization
6:10 Number Example
7:12 Who is Impacted?
7:30 How do I find my Trigger Rate?
8:06 What are my options?
8:58 Jarek’s Suggestions


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Time stamps

Jarek Piwowarczyk, AMPC
Mortgage Broker
Mortgage District Inc, FSRA 12864
Each office independently owned and operated



Although the presenter has taken great care in preparing this video, he makes no representations or warranties with respect to the accuracy or completeness of its content. The video is only for entertainment purposes and should not be relied upon. All calculations should be verified independently. The contents of this video should not be considered a substitute for professional financial advice. Please consult a mortgage professional, financial advisor, accountant or other financial professional before implementing any of the strategies described in this video. The ideas discussed are not guaranteed to provide accurate results, imply lending terms, qualification amounts, nor real estate advice. The presenter shall not be held liable for any loss of profit or any other financial damages, including but not limited to special, consequential, incidental, or other damages.

#Variable #TriggerRates #BankofCanada