TORONTO, ON / ACCESSWIRE / May 30, 2022 / The real estate sector is extremely volatile and as inflation increases, so does the cost of homes. In a recent online article, real estate professional, Salim Henerah discusses how inflation influences mortgage rates.
“Inflation is defined as the rate at which the prices of goods and services increase over time. The most common way to measure inflation is by using the Consumer Price Index (CPI). The CPI is a basket of items that consumers commonly purchase.”
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When inflation is high, it can cause the Federal Reserve to raise interest rates which leads to an increase in mortgage rates. While inflation can mean an increase in wages, some individuals fear a negative impact on the housing market.
According to Salim, one of the best ways to protect yourself from high inflation is to consider a fixed mortgage rate. “This means that your interest rate will be locked in for the life of your loan, no matter how high inflation rates may go. This can give you some peace of mind and help you budget for your monthly mortgage payments.” He also states that a larger down payment will reduce the amount of interest that you will pay over the course of your loan.
Salim states that anyone thinking about purchasing a home should perform extensive research or take the time to speak to a financial advisor for guidance.
Those interested in reading more about the housing market are encouraged to check out the full article on ventsmagazine.com.
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About Salim Henareh
Salim Henareh is the CEO of a private mortgage corporation based out of Toronto, Canada. With thirty years of professional experience, Salim provides individuals and businesses with the financial resources needed for the purchase or construction of residential properties, commercial plazas, and multi-unit residencies. Offering cost-effective, affordable solutions, Salim is a trusted name in Toronto real estate.
Contact Information:
Salim Henareh
Email: [email protected]
SOURCE: Salim Henareh
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https://www.accesswire.com/703274/Salim-Henerah-Discusses-How-High-Inflation-Can-Influence-Mortgage-Rates-In-New-Online-Article