What type of mortgage do you pick in a changing economic environment?

With the recent Bank of Canada rate increases, many buyers are left wondering what the best option is for a mortgage. These charts were shared to me from a trusted mortgage specialist and they outline how over the long term a variable rate is the way to go. It can be scary to see the rates jump .5% overnight, and with another rate increase expected in July, buyers are faced with the decision to either lock in a fixed rate ahead of each increase or go the variable route. Don’t take my word for it, go talk to your trusted mortgage provider, educate yourself, and feel free to reach out if you have any questions.