04/02/2022
What is the best choice variable or fix interest rate? I wanted to share this article. It said that the fix rate is over 2.5% but the variable is below 1.4%. I remembered since I have a mortgage, the variable is always the cheapest. I had 10 years variable rate at all time until last year I decided to go with 1.8% fixed rate for 5 years. Today Canada news said variable is below 1.5% which is prime minus aboyt 1.2-1.5%.
Everyone who is thinking buy a real estate here, variable rate is the best.
Over the past couple of weeks, all of the big banks and countless other mortgage lenders have bumped up some of their fixed rates. Meanwhile, markets are now fully pricing in a rate hike by the Bank of Canada at its March meeting, which will raise rates for the country’s variable-rate holders. Her...