Blog by Barb Pasternak,

Blog by Barb Pasternak

<< back to article list

Variable or Fixed

..."With a 10-year mortgage, you're entirely insulated from the coming cycle of interest rate increases. Over that period, Mr. Majthenyi notes, your income will rise and you'll pay off a lot of the interest on your mortgage. At renewal time, you should be in a good position to make higher mortgage payments if need be.

The 10-year rate of 5.3 per cent seems high in comparison with current five-year rates, but it's reasonably attractive if you look at the past decade. "....   Globe and Mail