Page 11 - November Market Update

Some mortgages uMetro Vancouver

also allow you Downtown, Westside, Eastside, West

to top up every Vancouver, North Vancouver,
Richmond, Tsawwassen
payment.

In our case, we’re allowed
to increase each payment by
15%.

The actual difference is only
about $95 per payment for us,
but if we keep it up for the
term of the mortgage, we could
instantly shave two to three
more years off the mortgage.

We’re not actively trying to
pay our mortgage down as
quickly as possible, but it’s one uGreater Vancouver
of our priorities since living
debt free is appealing to us. Burnaby, New Westminster, Coquitlam,
Port Coquitlam, Port Moody, Pitt Meadows
The Bank of Canada has hiked Maple Ridge.
rates five times since July 2017,
and says more increases will be

needed. Rates are rising at “ex-
actly” the right pace, Governor
Stephen Poloz said recently

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