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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About variable closed mortgage rates.
Take advantage of today's rock-bottom rates with a variable closed interest rate mortgage. Why? For starters, variable closed mortgages usually have lower interest rates than fixed rate mortgages do. Plus, with most variable closed mortgages, you can still convert to a fixed rate mortgage if you expect interest rates to rise in the future.
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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.