London MLS
Kathy Mendham-Meathrel Realty Executives Elite Ltd 7-515 Wellington Rd South London, Ontario, N6C 4R3
Office: (519) 649-6900 Cell: (519) 854-1974
|
|
How variable rate loans change |
| Print |
|
How do variable rate loans change?
Variable rate mortgages go up and down with interest rates, based on changes in the Bank of Canada's key lending rate which will cause the cost of funds for lenders to vary.
The interest rate and payment adjustments do not always coincide. There is usually a lag.
When your rate does change you normally should be advised in writing by your lender.
|
|
