Today's post is my quarterly update on the state of the Canadian mortgage market. I present both sides of the inflation debate and close with my usual recommendations on both fixed and variable rates going forward.
Conservative borrowers who prefer fixed rates almost always choose a five-year term. In today's environment, I think there's a much better deal to be had, even if no one is talking about it. In today's post, I make my case.
Borrowers are often surprised to learn that qualifying for a variable-rate mortgage is harder than qualifying for a fixed-rate mortgage, even though the variable rate is lower. To find out why, check out today's post.