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After the Hike: Fixed or Variable?


After the Hike: Fixed or Variable?

It’s the perennial question homebuyers ask themselves and one that’s getting a lot of attention these days: should I go fixed or variable?


And the answer may have just become a little more complicated now that the Bank of Canada (BoC) has raised its overnight target rate to 1.50%.


The rate increase, which affects variable rate mortgages and Home Equity Lines of Credit (HELOCs), as well as the BoC’s statement that suggests more rate hikes are on the way, are weighing on consumers trying to decide between fixed or variable mortgage rates.


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