Tag: interest rate hike

Fixed Vs Variable Mortgages: Everything You Need To Know

Variable or Fixed Mortgage – Which Is Better? Since July 2017, the Bank of Canada has raised its key overnight rate four times. It currently stands at 1.5%, while the prime lending rate of big commercial banks is 3.70%. This has left many homeowners wondering which is better: fixed or variable mortgages? Furthermore, what are the benefits of mortgage insurance?…

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