Fixed rate mortgages the new normal for first-time homebuyers
The economic impact of the pandemic has cemented decisions to choose fixed-rate mortgages for Canada’s first-time homebuyers.
According to a new report from BMO, 57% of those planning to buy their first home will lock-in a rate rather than opt for a variable rate, despite the current low interest rates.
Original Article Source Credits: Wealth Professional , https://www.wealthprofessional.ca/
Article Written By: Steve Randall
Original Article Posted on:
Link to Original Article: https://www.wealthprofessional.ca/news/industry-news/fixed-rate-mortgages-the-new-normal-for-first-time-homebuyers/334521