The Best 3 Year Variable Open Mortgage Rates
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Expecting Market Rewards?
Variable rates are generally lower than fixed rates, the difference being that variable rates may go up and down during your mortgage terms. Mortgage shoppers choose variable rates in the hopes that they will stay the same for the duration of the term. They may drop even lower!
Expecting a Personal Windfall?
Unlike a closed mortgage, there are no terms and conditions by which you have to pay off your mortgage. You could pay the entire balance tomorrow without fear of penalty. This makes an open mortgage ideal for those expecting a large windfall such as the sale of a business, an inheritance, or the release of a personal fund.
Want More Options?
As you can see the list of 3 Year Variable Open Mortgage Rates is not a long one. Fortunately RateSupermarket.ca compares not only rates offered by banks, but mortgage brokers, credit unions and specialty lenders. You'll find more options by searching in the much more popular five year category. If you are committed to a three year term, you might want to compare fixed rates or closed mortgages.