The Best 9 Year Fixed Closed Mortgage Rates
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What Does Fixed Closed Mean?
A fixed mortgage rate will not change for the duration of your mortgage, so in this case the rate will stay the same for nine years. A closed mortgage means that the conditions by which you pay off your mortgage stay the same as well.
Not Seeing a Lot of Options?
Nine years is an unusual mortgage term. Five years and below is a much more desirable option for most Canadians, because you can either renew your mortgage or shop for a better rate when your term is up. However, if you're looking for a stress free mortgage that won't change for a long time, a ten year fixed rate is another popular option.