Blog by Tridac Mortgages

<< back to article list

Fixed Rate or Variable Rate Mortgage

The dilemma of deciding to go fixed over variable is on the mind of many borrowers and, it has lots of people talking. Recently, the Globe & Mail featured the following article “Possible Rise In Mortgage Rates Pitting Couples Against One Another” .

Here's one way of looking at the situation. The spread between fixed (4.59%) and variable (1.75%) is significant, at about 2.80%. We also know that in the coming months the Bank of Canada will increase the prime rate. However, with the latest report from Statistics Canada indicating that inflation was down in March it's questionable how quickly the prime rate will move up.  Variable is looking like the better option these days but if you can’t make up your mind there is always the Merix 50/50. (3.25%).

If you'd like to discuss your situation or explore your options, feel free to contact me. Chris Molder, Toronto mortgage broker. 416.461.0204

facebook(2).pngtwitter(2).pnglinkedin(2).pngScreen shot 2011-12-01 at 1.56.28 AM.pngwordpress(2).pngyoutube(2).pngRSS.png

SOB logo2

IR LOGO

Testimonials

"Arnold's actions and demeanour far exceeded our expectations and more than reassured my wife and I that we had in fact made the right decision..."More...

Private Mortgages

Categories

Newsletter

Enter your email address:

Delivered by FeedBurner