Canadians see rates on the rise, but views on whether to choose a fixed rate or variable rate mortgage in today’s rate environment are split according to a recent CIBC/Harris Decima poll.
Key findings of the poll include:
The difference in opinions on whether to go fixed or variable makes it more important than ever to meet with a trusted mortgage advisor who can discuss with you the various mortgage options and help you make the right mortgage decision. Everyones personal situation is different and there is no right or wrong answer.
The poll results also highlights that views on choosing a fixed or variable mortgage can change depending on your stage of life.
While homebuyers need to make the fixed vs variable decision when they first buy a new home, existing mortgage holders should always evaluate their mortgage on a yearly basis to ensure they are still in the best mortgage product.
If you had more questions about fixed or variable mortgages or wanted a evaluation on your current mortgage don’t hesitate to contact me by any of the methods below or leave a comment.