A new Make Money Count episode! It has been a while, but with all the talk of inflation and rising interest rates, we had to hop on to give our two cents. Inflation may seem scary, but as you’ll hear in the episode, we don’t believe the actions taken by the Bank of Canada will be as drastic as the markets may be pricing in because:

1. The average consumer debt right now is high, and each rate hike will have a pronounced impact on that debt.

2. There’s been a lot of inflation recently. A lot of that pressure is believed to be a result of supply chain issues that won’t be fixed by an increase in interest rates. This is why we still believe the variable rate is a great option.

And whenever that time comes that you want to lock in, call Cannect before going to your bank. Through one of the several mortgage finance companies we work with, we can get you a fixed rate with more favourable breaking costs. Remember, 70% of mortgages are broken before the end of their term.  

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