When rates start to move up, the obvious cost of borrowing increases as well. Depending on what credit has been extended, an increased rate will likely lead to slightly higher repayment costs.

What is a stress test? Will this affect my mortgage? These are probably some of the questions you might have right now! The mortgage stress test requires lenders to check that you can still make their payment at a rate that's higher than they actually pay - HUH? Here's how it works. ... This means […]