HomebuyingTwo of the world’s least affordable housing markets are in Canada
Two Canadian cities rank among the world's severely unaffordable cities according to a global survey by Demographia.
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About variable open mortgage rates.
Get maximum flexibility with a variable open mortgage. Variable open mortgages give you the option of increasing your mortgage payments at any time, without paying a penalty to the lender — you could even pay off your entire loan all at once. You can also lock in a fixed rate if you see interest rates rising in the future.
Variable open mortgages are popular with borrowers who anticipate a near term move: the property can be sold and the loan discharged without any mortgage break fees.
Of course, variable open mortgages have a floating interest rate that changes with the prime lending rate of your bank. Your interest rate will be set at the beginning of each month, but your payments will stay constant. If interest rates decline, more of your monthly payment will be applied to your principal rather than the interest.
Compare the top variable open mortgages here at LowestRates.ca. Select a product from the rate chart above and get started.
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Home InsuranceA look at home security features that get you insurance discounts
So you've just moved into a new house and you're thinking safety. Maybe you want to add deadbolts to your doors to give you peace of mind. Or you're mulling a new security system. The good news is that adding safety to your home can also save you money.