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Rising Interest Rates, New Mortgage Rules, and Variable vs Fixed Mortgages in Canada for 2023

Build Wealth Canada Podcast

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The third type of mortgage is a variable by where your monthly payments stay the same, but you're still taking the same cash flow hit every month. The downside is that your amortization period could get longer and longer so you're actually paying more in total interest if you look at it that way. It's nice that these two other options exist and I can see it making sense for some people for sure.

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