The Best 1 Year Variable Closed Mortgage Rates
The Best Mortgage Rates in Ontario
1 YearVariable Closed View All
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Minimize the Risk of Variable Rates
Fixed rates stay the same for the duration of the mortgage, whereas variable rates are subject to market pressure and can fluctuate. For that reason many mortgage shoppers avoid variable rates, even when they are lower than fixed rates. That's less of a problem for people looking for a shorter term. Even if the rate does rise, you're not locked into a mortgage for long.
What's the Difference Between a Bank and Broker?
When shopping for a mortgage most Canadians head to their bank. However banks can only offer their own posted rates. Mortgage brokers are professionals who offer a variety of rates from banks, credit unions and specialty lenders to make sure you get the lowest rate possible.
The Shorter the Term, the Faster You Move
Don't forget, once your mortgage term is over you'll be pressured to auto-renew, often at a higher rate than you intended. Sign up for our mortgage renewal reminder so you'll be ahead of the curve, or subscribe to Rate Alert so you'll be able to keep tabs on the latest rates.