The Bank of Canada is determined to win the battle against inflation, no matter the cost.
Are you prepared
for a recession?
The high cost of fighting inflation
For some of us, the cost will be a higher interest rate on our variable rate and adjustable rate mortgages and lines of credit, or a higher rate upon renewal of a fixed rate mortgage.
For others, the cost may be more dire, such as loss of employment, or a substantial reduction of earnings; perhaps compounded by the higher cost of servicing our debt and the general cost of the day to day necessities affected by inflation, such as fuel and groceries.
You need a plan
The pace of interest rate hikes is faster than at any time in recent history, leaving little time to prepare and react.
While uncomfortable, it is important to have a conversation based on our own unique situation, and to try to take action while action can be taken.
The Time to Take Action is Now
Time is of the essence; with higher interest rates and an even higher qualifying rate (aka “stress test”), combined with declining property values, it is becoming more of a challenge to use our home equity as a tool to combat or hedge against the cost of the battle against inflation.
We’ve done the research, and we know which strategy will save you money.