News
March 04, 2015 | Nolan Matthias
But don't go to your bank for a variable rate

Variable-rate mortgages are once again returning to popularity thanks to low interest rates and the expectation the Bank of Canada will lower the overnight rate again in the near future.
For the last several years, consumers have favoured fixed-rate mortgages primarily due to the expectation rates would rise before they fell. Those expectations however, have not been fulfilled. In fact, the opposite has ensued and rates have gone lower not higher.
Many who recently took out five year fixed mortgages are now realizing they would have fared better with a variable-rate mortgage.