December 22, 2022
Should I Lock In My Variable-Rate Mortgage?
Not only did Canadians have to deal with the highest inflation rates we have seen in over 40 years, but they also experienced some of the highest Prime Rate increases since April 2001 when Prime was at 6.50%. With all these rate hikes, many are left wondering if they should convert their variable-rate mortgages to a fixed rate. Let’s go over the pros & cons of locking in.
