Variable Rate v. Fixed Rate. What to pick? Well stat junkies, here are your statistics.
This is an interesting chart showing you a 10 year history of different kinds of mortgages available to consumers, providing you a visual on what option is better suited to you and your lifestyle.
You will see in the 10 year history, a variable rate is the better option for you, the consumer. If you look back at a 25 year history, you will see a similar trend. Aside from a few small blips, the variable has been the better option.
Both of these charts have been posted under the mortgage section for you to refer back to in the future if you choose.
Bottom Line: Consult your mortgage professional to give you the fine details and show you which option is best suited to your needs.
What kind of mortgage do you have? Why?
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.