.

Recessions, Interest Rates, and the Benefit of Variable Rate Mortgages

Recessions, Interest Rates, and the Benefit of Variable Rate Mortgages, Jason Scott, Edmonton Mortgage Broker blog

Recessions, Interest Rates, and the Benefit of Variable Rate Mortgages

What is a recession? A recession is two back to back quarters with negative growth. In other words the economy is shrinking over six months. What is the impact of a recession on mortgages?

In the case of a recession, the Bank of Canada generally lowers their key rate, which impacts variable rate mortgages. This means you can be rewarded for choosing a variable rate mortgage, if you’re prepared to ride the storm. Watch the video to learn more!

About Jason Scott, Edmonton Mortgage Broker

Looking for a personalized mortgage solution? As an Edmonton Mortgage Associate,  I’ll be your trusted partner who will help you get the right mortgage for your family home or Investment property. I’m Jason Scott, and I’ll be your Mortgage Broker Edmonton.

Share This Story, Choose Your Platform!

Previous Post
What’s Going On With Interest Rates? How High Will They Go?
Next Post
The Impact of Rising Interest Rates on the Amount You’re Qualified to Borrow

Related Posts

Menu