With recent Bank of Canada announcements suggesting stable interest rates, the debate over fixed vs. variable mortgages is heating up in the GTA. According to a Financial Post report, while many hoped for further rate cuts, economic data has been surprisingly resilient. This has led to a growing number of borrowers opting for variable rates, with recent data indicating that half of new prime mortgage applications this month were for variable rates.
However, experts suggest that the potential for further rate decreases may be limited, making fixed rates an increasingly attractive option. The price of certainty is cheaper than usual. Is it time to lock in your mortgage? Robert McLister weighs the pros and cons. Read the full analysis on Financial Post to make an informed decision about your GTA mortgage strategy.
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