Fear of rising interest rates is causing more Canadians to opt for fixed-rate mortgages over variable-rate alternatives that could save them thousands of dollars in payments, according to a leading expert. Justin Thouin, CEO and co-founder of LowestRates.ca, is calling for consumers to base their mortgage decisions on 30 years of downward trending rates, rather
Whether it’s a palatial residence, a trendy condo or a tiny bungalow, a home is the most expensive thing most Canadians will buy in their lifetime. For a nation known for its love of discounts and reward programs, you’d think we’d be all over getting the best possible deal on our mortgages. But over and
House prices in many parts of Canada have been soaring for years. Mortgages are growing larger and the number of households with extreme levels of debt is multiplying rapidly. So you’d think that we would be seeing an increase in the number of households that are having a hard time paying off their mortgages. Not so.
