Canada’s lenders are working to attract borrowers to variable-mortgage rates, which are tied to the fluctuations of the central bank’s overnight rate. They are offering special rates as low as 2.45 per cent for May, some of the biggest-ever widely advertised discounts advertised by the big banks. At the same time, they have increased the rates of their fixed-rate mortgages.
Even in this rising interest rate environment, experts suggest current variable-rate options are attractive when compared to fixed-rate mortgages. [기사 전문 ↓]