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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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Choosing Between Fixed Rate and Variable Rate Mortgages?

With all these mortgage rate changes that we've seen in the recent past, what are some considerations when choosing between a fixed rate and a variable rate mortgage? I would say that it really depends on your tolerance for risk and how you felt over the last while. There's opportunities to stretch out your amortization period, to lower your payment, all sorts of things which we will discuss later on there. But yes, definitely opportunities to fix your situation if you're feeling that it's tight from a cash flow standpoint.

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