HomebuyingREPORT: Canadian mortgage rates and housing market trends 2020
Experts say we haven’t yet seen the full effects of COVID-19 on the housing market.
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On average, Canadians save thousands of dollars per year by comparing rates with us.
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About fixed closed mortgage rates.
Want the security of knowing your mortgage rates won’t increase anytime soon? Like the predictability of payments that stay the same every month? If you answered yes to both questions, then you’ll want a fixed closed mortgage.
Fixed closed mortgages bring you peace of mind: they're simple and easy to understand, and your rates stay the same for the duration of your selected term.
In today’s market, you'll find that fixed closed mortgages also offer remarkably low interest rates. And, as an added benefit of this type of mortgage, most lenders let you make yearly lump-sum payments, which means you can actually become mortgage-free ahead of schedule.
You can get started by selecting a fixed rate mortgage product from the rate chart above.
Mortgage news
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HomebuyingEllen Roseman: If you plan to break your mortgage, beware the penalties
If you’re planning to sell your house or break your mortgage before the end of your term, there could be fees to pay.