Debt Free In 30

Less than one year ago, the Bank of Canada overnight rate was just 25 basis points. Today, it’s 450 basis points – an 18X increase. How have record rate increases affected homeowners and potential homebuyers? What about borrowers with a home equity line of credit (HELOC)? On today’s podcast, Ron Butler, mortgage broker extraordinaire, gives us insight into the mortgage world in 2023. He also discusses how recency bias affects our decision-making, with lots of practical advice to avoid paying more for your mortgage than you need to. Tune in! Links: Ron Butler on Twitter: @ronmortgageguy https://twitter.com/ronmortgageguy Butler Mortgage (mortgage rates): https://www.butlermortgage.ca/mortgage-calculator/ High Interest Rates: What Can You Do/ https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/ Bank of Canada, share of mortgages with high Debt Service Ratio: https://www.bankofcanada.ca/rates/indicators/indicators-of-financial-vulnerabilities/ Average Toronto house prices: https://wowa.ca