Q: I saw in the news that the Bank of Canada might start raising interest rates again and my stomach dropped. We bought our place three years ago with a variable mortgage, and we have a home equity line of credit with about $48,000 on it from when we redid the kitchen, replaced the roof, and needed to cover credit card bills when I was temporarily laid off. I’ve also got an older, unsecured line of credit from my renting days, where I still owe about $9,000. Everyone’s talking about mortgage renewals, but ours thankfully isn’t up for a while yet. The line of credit payments have crept up and I’m not sure what they’ll look like next month. Nobody seems to be talking about the credit lines. What should we be doing right now? ~Marcus Read More