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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 Variable Rate Mortgage

In some cases, it may actually be better to break that existing mortgage if you're able to get one that's a lot less expensive. Six out of 10 Canadians like end up restructuring their mortgage before the end of the five year term there. So definitely very important to consider those penalties there and adjustable or variable rate has a lot fairer penalty almost always than the fixed rate.

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