The Best 9 Year Fixed Closed Mortgage Rates
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What is a mortgage broker - and why would I work with one instead of a bank?
Think of a mortgage broker as your personal mortgage shopper - they've got access to a number of rates offered by multiple lenders, and do the legwork to connect you with your best match. Brokers work with your unique financial institution, and will help negotiate the best rate on your behalf - best of all, their services are absolutely free!
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.