Burlington Mortgage Broker/ Agent, Kirk is passionate about finding mortgage solutions for his clients. Whether it is a first time home buyer or family needing to refinance to reduce debt and improve monthly cash flow, his industry experience along with his personalized, strategic approach allows him to create the optimal mortgage solution for each situation.
Get in Touch With Kirk Eaton - Mortgage Broker/ Agent Serving Burlington, Toronto, ON
Mortgage Agent Kirk Eaton is passionate about finding mortgage services for his clients. Whether it is a first time home buyer or family needing to refinance to reduce debt and improve monthly cash flow, his industry experience along with his personalized, strategic approach allows him to create the optimal mortgage solution for each situation. Working with Premiere Mortgage Centre gives Kirk access to a variety of lenders, with the most innovative mortgage products and competitive interest rates on the market.
MARCH 2ND, 2022
At 10am, March 2, 2022, the Bank of Canada (BoC) increased it's overnight lending rate by 0.25% to 0.5%, which was well anticipated considering inflation is running hot and has hit a 30 year high. Here is what this means for your variable rate mortgage and/or home equity line of credit:
Home Equity Line of Credit (HELOC): The Prime rate is expected to increase by 0.25% which will increase the banks' Prime rate to 2.70%. Your interest rate will therefore increase by 0.25% meaning you will be paying slightly higher interest on your HELOC balance and your minimum interest only payment will also increase accordingly. The typical rate for a HELOC is Prime + 0.5% so the rate will change to 3.20%. For every $100,000 balance on a HELOC you will be paying approximately an additional $21/month in interest.
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Mortgage Agent Kirk Eaton serves clients across Ontario and Canada, specializing in the local markets of Toronto, Burlington, Oakville, Mississauga, Hamilton, and the GTA.
Mortgage Services provided by Eaton Mortgage Group include :
