With the announcement this week of a fixed rate increase the variable mortgage option may still make sense.The article below refers to a possible lowering of variable rate/prime rate again by May as the Bank Of Canada try’s to put the breaks on a sliding loonie. The increase in rates this week could be an actual buffer that the banks/mortgage lenders are implementing knowing that the rate cut may be coming ahead in the spring market.
Hope you find this useful !
Residential and Commercial Mortgage Agent
Safebridge Financial Group
Tel: 416 899-1467
Fax 1866 385-4049