The Best 6 Month Fixed Open Mortgage Rates
The Best Mortgage Rates in Ontario
6 MonthFixed Open View All
|6.45% View Details »||6.50% View Details »||6.70% View Details »|
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by Sean Cooper
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Why Are These Rates So High?
People with short term open mortgages are paying for short term convenience over long term savings. When you have an open mortgage you may pay as much of the balance as you like without being penalized by your lender.
Spend, Spend, Spend
If you have an open mortgage you should take advantage of your freedom and spend as much as you can reducing the balance. This arrangement is ideal for mortgage shoppers expecting a large windfall of cash. You can always switch to a more reasonable rate when the mortgage term ends.
Don't Forget to Renew
You'd be surprised at how fast six months can go by. Sign up for our mortgage renewal reminder so you'll be ready to renew or find a different rate when the time comes.