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How To Choose Between a Variable or Fixed Rate Mortgage

Posted onSeptember 17/2018By

The difference between fixed and variable rate mortgages has narrowed over the last few years. Fixed rate mortgages have the advantage of peace of mind, as the payments are fixed monthly. However, their rates have also been steadily increasing in recent years. In comparison, variable rate mortgages tend to be lower in their rates, but also include additional risks. As a result, determining which to go with can provide a nerve-racking and daunting task. Here, we will help you choose between a variable or fixed rate mortgage by assessing your risk tolerance, lifestyle, and income. Rewards vs Risk As mentioned,…

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Start Early and Do Your Research When Renewing Your Mortgage

Posted onSeptember 10/2018By

With rising interest rates and newfound stress testing rules, mortgage refinancing has become that much more expensive and complicated. As a result, if you want to avoid unexpected expenses and headaches along the way, it is important to start early and do your research when renewing your mortgage. Check Your Options Kelly Wilson is a mortgage broker who is also the co-proprietor of the Wilson Team brokerage firm in Ottawa. According to Wilson, the vast majority of Canadians stick to the same lender as far as mortgage renewals are concerned. However, this may prove unwise in some cases as taking…

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