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Know the Affects of Increased Rates on Your Loans with The Mortgage Division

Added: (Thu Aug 03 2017)

Pressbox (Press Release) - Know the Affects of Increased Rates on Your Loans with The Mortgage Division

With the announcements of hike in the interest rates by the Bank of Canada, experts have started their own speculations. These hikes are going to affect the loans of all kinds and The Mortgage Division is going to describe how.


In the month of July, the Bank of Canada made a huge announcement that left the investors and whole economic world stunned in surprise for some brief moments. The Bank has finally announced a hike in the rate of interest, thus increasing it from 0.25 per cent to 0.75 per cent. Now let the experts of The Mortgage Division decode it for as to how this hike is going to affect your loans and debts. If you have fixed rate home mortgage, then the rates will be changed at the time of renewal. In case you have gone for home equity lines of credit, then you owe more because of the variable interest rates. You can release the sigh the relief as the overnight changes in the interests are not going to affect credit cards a lot.

According to our experts, this interest rate is more about the shift in sentiment rather the actual numbers that went up. Speculations have been made regarding a shift in the purchasing tendencies of general consumers. In case, you have any concerns about the impact of interest hike on your loan and want to have expert advice for that, you can anytime consult the experts of The Mortgage Division.

Submitted by:Ashish Gandhi
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