24 September 2013
Is it a time for variable rate mortgage?
With the recent spike in fixed mortgage rates many well qualified borrowers are turning their heads to variable rates again. Today we will try to understand is variable rate mortgage is a right solution for you?
The history shows that variable rate mortgages have been a more profitable choice for Canadian borrowers during the previous 20-30 years. Nevertheless, still only a bit more than a quarter of mortgage holders chooses a variable rate mortgage. You may ask why?
And, probably, the main reason is the risk that comes with this product…