Is The Bank Of Canada Going To Raise Rates Again?
The Canadian Real Estate Investor
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How to Choose the Right Mortgage for You
Open variable rate mortgage: You can make as many pre payments as you want, pay off the entire balance or switch to another term at any time. With this type of mortgage, the interest rate is often lower than the open rate options. Closed variable rate mortgage : Payments will usually stay the same for the entire mortgage term with limited pre payment options. adjustable rates: The payment adjusts every so every time prime goes up, your payment goes up significantly.
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