There are a few key things that owners should consider to decide if their investment is worthwhile
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Inflation is up more than 8%, the highest yearly change in almost four decades, according to Statistics Canada. And in a scramble to bring that inflation rate down, the Bank of Canada raised its benchmark rate to the highest amount since 1998: 2.5 per cent.
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The hope is that inflation gets back to a normal two per cent by 2024. For borrowers with fixed mortgage rates, they would have locked in a certain interest rate when they purchased their property. For variable-rate mortgages, the interest rate that the borrower pays is tied to the…
