Second Mortgages on Waterfront Properties
Any decisions that Canadians make on second mortgages will be at least partially impacted by the mortgage rate forecast for 2023. Although predictions are a little premature, the previous rate increases by the Bank of Canada (BoC) will make their way through the economy and be seen more clearly in early 2023.
A slowdown in the economy isn’t ideal. However, slowing job gains and inflation could force the BoC to start dropping its key policy rate.
Chances for Appreciation
That’s one consideration. Then there are a few other thoughts included in a second mortgage on waterfront property. The chances for appreciation are strong. Plus, there’s good investment potential because these properties can be…
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