Inflation and rising interest rates have many Canadians worried about not being able to pay their mortgages.
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Although she admits the situation is worrying because “we don’t really know how it’s going to turn out,” Sophie Desautels, senior director of financial recovery at Raymond Chabot, wants to be reassured.
“Currently, in the short term, we shouldn’t worry too much because the majority of people with variable interest rates, right now, will have the effect during renewal,” she explains. In an interview with TVA Nouvelles.
She recommends talking to your financial advisor as the situation may vary from person to person.
Some people whose income has improved since signing up for a mortgage can choose to put more money on their equity to avoid paying more interest.
Watch the full interview in the video above.
Listen to Alexandre Moranville-Ouellet on Mario Dumont’s microphone on QUB Radio:
Sophie Laurent is a contributor to Vaughantoday.ca, covering a wide range of topics including local news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting that helps readers stay informed about current events and issues that matter to their communities. Sophie is committed to presenting accurate information, practical insights, and relevant stories in a straightforward and reader-friendly manner, making complex topics accessible to a broad audience.