If you’re considering taking out a new mortgage, or renewing an existing one, the most fundamental question is whether to choose fixed rate or variable rate. Here’s how it works.
Apart from during our recent rate hike cycle, the last time interest rates were at our current level was back in 2007. A variable mortgage costs the same now, how about home prices?
When interest rates rise, the real estate market is impacted. It might not be panicking in the streets, but it definitely impacts the number of sales, the average price and what’s coming next.
