It’s a mistake to shrug off interest rate increases because all banks are doing it.
There’s a lot of sameness to how banks treat their customers, but raising rates is an exception. We’ve recently seen varying levels of aggressiveness in raising mortgage rates. And in one case, we’ve seen an unusually shaky hand in ramming through a rate hike on lines of credit. If you’re a borrower, keep an eye on how banks compare with each other to make sure you’re not getting shafted.
Read more here: Bank Shafting you on rates?
Angela Calla, Mortgage Expert, AMP of the Year in 2009 has been helping British Columbian families save money with the best mortgage strategy for over a decade from her Port Coquitlam office location. She is a regular contributor to national and regional media outlets and long-time host of The Mortgage Show on CKNW Saturdays at 7pm, and sits on many advisory boards for mortgage lenders and insurers. We can be reached to help you or for media inquiries at firstname.lastname@example.org or 604-802-3983.