BANK RATE ANNOUNCEMENT

Well it happened!
It was talked about for a month or more and predicted and it happened.   4.5% 

So how does this affect you?  We would love to know.. comment below or send us a direct message.

Here is what we know:

Those with a variable rate mortgage will have an increase in mortgage payments.
Those with a fixed rate mortgage will not be affected.

Wondering how this affects your buying power?  Some data provided by Mortgage Broker in London outlines the info below:
 

	Februrary 2022	December 2022
Average Price	$825,221	$591,526
Minimum Down Payment	$57,522	$34,152
Total Mortgage Amount	$798,407	$579,669
Interest Rate/Amort	3.09%/25YR	4.89%/25YR
Mortgage Payment	$3,815.39	$3,335.18

Want more details, send us a message to christine@teamsiemens.com or call 519-719-6454.

Worried that that this might make it difficult to sell your house this spring?  Inventory is still low and there are many buyers still on the hunt looking for that right home.   CALL NOW so we can help you get this most $$$ out of selling your home!
CALL 519-719-6454 or email kurtis@kurtissiemens.com.


Here is the list of the next Bank Of Canada Rate Dates!
 
 

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