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Canadians Opting for Shorter Mortgage Terms | Scott Dawson
(778) 668-9320 [email protected]

Did you know shorter mortgage terms are the current trend?

Canadians are opting for shorter-term mortgages – 39 per cent of the mortgages granted in the last year had terms of less than five years (up significantly from 20 per cent in previous years).

  • On average, Canadians refinance their homes every 3.5 years.
  • The three-year fixed rate is historically lower than the five-year fixed rate.
  • The three-year fixed rate is typically very competitive between lenders.
  • See the chart below:
    3 Year Fixed Term

    If you have any questions or wish to enquire about today’s current mortgage rates, please feel free to contact Scott Dawson by any of the methods below:

    Phone: (778) 668-9320
    Email: [email protected]