Even with fixed mortgage rates lower than variable ones, locking in isnt a slam dunk

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Mortgage Agents in High River

Normally, switching from a variable rate to a fixed one before the end of your mortgage term means signing up for a higher rate. Fixed mortgage rates are usually higher than variable rates because people are willing to pay extra for the comfort of knowing their interest rate will not change.

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Original Article Source Credits: Global News , https://globalnews.ca/

Article Written By: ERICA ALINI  

Original Article Posted on :November 16, 2019

Link to Original Article:  https://globalnews.ca/news/6162336/switching-from-variable-to-fixed-mortgage-rate/