The following article first appeared in the Calgary Herald Oct 13th 2023 (I am quoted in this piece). Click on the image to open up the article.
It is as relevant today as it was back in the fall. There is talk of interest rates dropping this year. The big question for first time home buyers and/or people renewing their mortgages is what term to select and if they should take a risk and go with a variable mortgage in the hope rates will drop significantly. I would strongly suggest getting advice from a financial planner as well as from a skilled mortgage broker on what are YOUR best options going forward.
