Posthaste: Homebuyers still tempted by variable-rate mortgages despite Bank of Canada rate hikes
Howevever, the Ratessdotca report cites the mortgage stress test as a possible reason for the increased interest in variable mortgages since the qualifying rate is lower.
“Normally, it is predominantly fixed compared to variable,” Dan Eisner, chief executive of True North Mortgage, told Ratesdotca. “For the last few months, it’s been strongly variable versus fixed, with the qualifying rate being lower for variable, but as prime goes up, that qualifying rate goes up.”Article content
Variable rates, which are tied to the Bank of Canada benchmark, have been rising in lockstep with the rate hikes.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Procurement Perspectives: The stress of leadership in construction - constructconnect.com - Daily Commercial NewsIn physics, stress is the strain that a force exerts on a body so as to deform, stretch or distort that body. The psychological meaning is essentially the same, except here the “body” is the human psyche. Minor stress is a natural part of life and an i
Read more »
OPP stress road safety as long weekend approachesOntario Provincial Police notes 'significant increase' in preventable deaths on roads this year
Read more »
Best acne treatments in 2022, according to a top Canadian dermatologistStress acne is a thing
Read more »
Best acne treatments in 2022, according to a top Canadian dermatologistStress acne is a thing
Read more »
Best acne treatments in 2022, according to a top Canadian dermatologistStress acne is a thing
Read more »
Best acne treatments in 2022, according to a top Canadian dermatologistStress acne is a thing
Read more »