Fixed- or Variable-Rate Mortgage? Right Now Its No Contest
With the Bank of Canada keeping its policy low last week and until 2023, the fixed vs. variable debate is an unusually one-sided one right now.
Last Wednesday the Bank of Canada (BoC) announced that it would keep its policy rate at 0.25%, as was universally expected.
In its latest policy statement, press-conference commentary, and Monetary Policy Report (MPR), the BoC offered unusually clear guidance on the future path of interest rates, which will be extraordinarily useful to anyone in the market for a mortgage.
Original Article Source Credits: Move Smartly , https://www.movesmartly.com/
Article Written By: David Larock
Original Article Posted on: NA
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