What Is a Trigger Rate – and How Does It Impact Your Mortgage?
- November 15, 2022
- Posted by: Duffin Martin
- Category: Accounting, Consulting, Finance, Personal Taxes, Tax Planning, Tax Services
The trigger rate applies to variable-rate mortgage holders that are on a fixed payment schedule. In case of variable rate mortgage (VRM), the trigger rate is the rate at which the regular mortgage payments no longer covers the accrued interest.
This information does not replace the advice of a tax professional.