Inflation and rising interest rates have many Canadians worried about not being able to afford to pay their mortgages.
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Although she admits that the situation is worrying since “we don’t really know how it will turn out”, Sophie Desautels, senior director of financial recovery at Raymond Chabot, wants to be reassuring all the same.
“Currently, in the short term, we should not worry too much because the majority of people who have variable interest rates, for the moment, the impact will arrive during the renewal”, she explains. in an interview with TVA Nouvelles.
She advises talking to your financial advisor since the situation can differ from one person to another.
Some people whose income has improved since signing their mortgage could choose to put more money on their capital to avoid paying more interest.
Watch the full interview in the video above.
Listen to Alexandre Moranville-Ouellet at the microphone of Mario Dumont on QUB radio: