Mortgage News
CTV News - Mortgage Minute October 8
Frank Napolitano joins CTV's Lianne Laing to talk about fixed versus variable mortgage rates.
Published
Click here for the full video from CTV Ottawa.
When fixed mortgage rates were at lows of 2.89%, the choice between fixed and variable was an easy one. While fixed rates are still hovering near historic lows, the lowest ones are now much more comparable to the variable rates, which are set using lenders' prime rates.
In this video, Ottawa Mortgage Broker Frank Napolitano compares the average mortgage amount using both a fixed and variable rate to see how much a home owner can potentially save over a 5 year term. The results may surprise you.