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A Fixed vs. Variable rate mortgage is a question I am asked almost daily. With prime rate at 5.25% and the key indicators (bond yields low and the Canadian dollar high) the pressure is on the bank of Canada to keep rates low to hedge against inflation. If I were to pick between the two mortgage options, I would choose a variable rate mortgage with an option to lock in. This gives you the best of all mortgage products and the security to obtain a fixed mortgage rate should mortgage rates inch upward – which again is highly unlikely given the current economic factors at play. Now may also be a great time to consider moving from a higher fixed rate mortgage to a lower rate. A quick review of your mortgage will determine if changing is the best strategy for you. Paying out a penalty in many cases can save thousands in the long run. My goal is to help as many people as I can structure their finances to build long-term wealth. I’m here to help 604 649-5991 or toll-free 1-800-687-9020