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Fixed Rate Mortgages
The choice between a fixed or variable rate should depend on your risk tolerance level as well as your ability to withstand increases in mortgage payments. A fixed rate mortgage offers more predictability over the term of the mortgage.
Aspects of Fixed Rate Mortgages
- Suits more conservative individuals who prefer or require stable fixed monthly payments
- Withstands interest rate fluctuations over the mortgage term
- Usually a higher interest rate
- Good for those that do not plan to sell or refinance in the short term
Contact us for a discussion on whether a fixed mortgage is right for you.
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