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Should I chose a Fixed or Variable Rate Mortgage?

Mortgage rates V vs F

That determination depends on several factors – time frame, risk tolerance and the terms of the mortgage loan. Fixed rates are higher than variable rates because they are riskier for the lender. In general, the shorter your time frame, the more attractive a variable rate is.


Again the decision is yours. But overall you are likely to save more with a variable rate mortgage as opposed to a fixed rate one. Not only are fixed rate mortgage rates higher. Breaking your mortgage usually requires interest differential with fixed rate mortgages. That in most cases costs you thousands more than just 3 months interest payments as required in variable rate mortgages.


To discuss further please call 1-888-882-0786 and speak to one of our Mortgage Brokers.

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Mortgage Rates
STOP! Before you apply for a mortgage through your bank, make sure you are getting the best rate! Compare the best mortgage rates in Canada right now. It will take only a minute, but you will be surprised just how much you can save! We at Resourceful Capital Financial Corporation source our rates from all financial institutions, not just the one's that deal with us. To make sure you make a sound and prudent financial decision and get the best possible mortgage.
Refinance Calculator
Resourceful Capital Financial Corporation's refinancing calculator will help you decide whether to refinance your existing mortgage at a lower interest rate.