Uh Oh! My Variable-Rate Mortgage Has Increased!

If you decided to invest in a rental property during the lowest dip in the real estate market, you may have decided to take advantage of amazing mortgage offers with unheard of rates. Yes, at the time, these variable-rate mortgages may have sounded fabulous, particularly as they would have helped ensure you kept more money in your pocket once rent began coming in from tenants. But now, as the real estate market begins to improve, mortgage rates are going up, up, up. Likely, this means you’re watching money that was once in your hand fill the bank’s already loaded pockets. It’s a harsh reality, but it’s one you just might be facing. So what is a landlord to do?