People are confused—they hear rates are going down, but then they’re told fixed rates are going up.
Here’s why: It’s tied to the U.S. election. Canadian bond yields have jumped over 61 basis points in just two months, and when bond yields rise, fixed rates usually follow.
The good news? The Bank of Canada is expected to keep lowering the overnight rate, making variable rates a more favourable option for many in the coming years.
Still unsure if a fixed or variable rate is best for you? Let’s chat!
PS: Did you know that I help people buy homes, renew their mortgage and refinance their mortgage. I have access to Second mortgages and Private Mortgages. I help people in Divorce, buyout a spouse or sell and buy new. I help self employed people who do not claim a lot of income on their income tax returns. I help people get lower rates and I help people consolidate debt!
