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Mortgage rates are on the rise.
What should you do in this scenario? Is it a good idea to get a fixed mortgage or variable mortgage? Do higher rates make it harder to qualify for a home loan?
In this episode, Derek Gold from Mortgage Scout joins Kris Dureau to unpack the different options you have when applying for home mortgages and repayments. While there is no one-size-fits-all solution, Derek outlines the differences between fixed or variable mortgages to help you decide which option may work best for you.
Derek discusses:
- Fixed or variable mortgages — which people seem to pick the most
- The different types of mortgages
- The importance of finding the right lender
- The new criteria for qualifying for a mortgage
- Advice for those with an increased line of credit due to home renovations