Everything is getting more expensive. It’s a refrain you hear constantly these days as rising interest rates and inflation affects everything from the price of groceries to mortgage payments.
With inflation on the rise and Canadian interest rates the highest they’ve been in decades, getting a handle on one’s finances is more important than ever today. While rising interest rates are meant to combat inflation and reduce spending and borrowing, where does that leave potential homeowners and those looking to invest? What do rising interest rates mean for borrowing money, and how will rising rates impact the economy?
As talk of a looming recession increases, investment strategies can seem overwhelming given the uncertainty in the economy. Below we’ll look at best practices for investing during rising interest rates, examine how a looming recession may affect the economy, and provide a framework for those debating whether to invest in these unpredictable times.