The Globe and Mail
April 27, 2023.
In an interview with the Globe Advisor, Neil Kumar discusses how variable-rate mortgage holders have hit the so-called trigger rate – the point at which none or very little of the payment goes toward the principal – which in turns lengthens the amortization period, or the time it takes to pay off the loan.
“You can continue to keep your payment where it is and you extend your amortization. That can be concerning. But it still allows people to stay in their home.”
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