To compete for business, banks will often incentivize homeowners by offering either cash-back or cash bonuses to earn their mortgage business.

This isn’t just a way of earning business, but by dangling a carrot and getting you focused on the cash it steers the conversation away from the fine print and important features of the mortgage that could easily cost you more money in the long run.

There is no disguising that after 2 years of historically low interest rates due to the pandemic, rates are now on the rise in an attempt to reduce inflationary pressure.