So, you’ve come into some extra money, possibly an inheritance windfall or a raise in pay. And while you want to spend it on a new hot tub, you’re determined to make a more prudent financial move. Should you put that extra money toward paying down your mortgage, or should you invest it?

Over the past months, the Bank of Canada has made increases in its benchmark interest rate, bringing it to the highest level in years, with further increases forecasted. These increases directly influence the Alterna Prime Rate, which impacts any loans with a variable rate.

If you’re buying a home for the first time, there can be a lot to wrap your head around. At Alterna Savings, we’ve got you covered through your entire home-buying journey.