Solutions

We've had so many questions lately with mortgae rates on the rise regarding a variable vs. fixed mortgage rates.  The best advice we like to givce on this topic is to speak with a mortgage broker.

Beyond that, if you are the type of person who likes to know exactly what your payments are going to be each month, and find yourself stressing out over minor rate changes, variable probably isn't for you.  However, if you're willing to be a little flexible on your payments, and don't get nervous watching the rates on a daily basis, you may want to look at going the variable route.  Historically, trends show that the variable rates stay below the fixed rates.  In the past 25 years, there have been just 6 periods of time where the variable rates were higher than the fixed rates.  Have a look at this attached comparison that may help calm your nerves when deciding to go with a variable rate.

Historical Fixed vs. Variable Mortgage Rates

For further information, be sure to Contact Us.  We can put you in touch with the right mortgage specialist to guide you through all the questions you may have to make sure you're making the right decision for you!!