Which is better?
Fixed rate mortgages have their time and place, but is now a good time to lock in a rate going into a potential recession?
The Bank of Canada raised interest rates to 5% last week. I think that will be the last increase we see this year. 🙂
In this video I discuss which type of mortgage I would get today and an economic prediction for the next 6 to 9 months.
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Interesting video. I am on a 1 year mortgage term at 6.29% with a B lender. We come up for renewal at the end of November 2023. I was banking on rates coming off and switching to a conventional lender at renewal time with a variable rate but, it looks like this was incorrect on my end. Recently speaking with a mortgage broker, they advised against going variable. Currently considering renewing for an additional 1 year term with B lender depending on rate offer.
Would you be open to discussing this further?