Wednesday, 25 January 2023
By Kinza Mahmood
Leah Zlatkin interviewed by Mortgage Professional Magazine: “What’s next for borrowers if the Bank of Canada continues hiking rates?”
Clients whose brokers have been watching that volatile market can capitalize when rates dip, Zlatkin said, and secure a short-term fixed rate if that’s their inclination.
“If you’re sitting in that boat where you feel like it’s too much for you, let’s move you to a fixed-rate two- or three-year term,” Zlatkin reiterated. “There have been some opportunities, and there will be some opportunities in the coming weeks to get a nice low term.
“And if not, can you hold out for the next year? Are you going to be OK? And does it make sense if you’ve got another three, four years on your variable? It might be worth riding it out if you’ve got a good discount off of prime. Otherwise, if you can’t handle the pressure, let’s move you to fixed.”
