“Variable-rate mortgages becoming more important to the market” – study.
The stricter stress test implemented by the federal government late last year will make variable rate mortgages which would end up being the relatively inexpensive options more enticing.
The best five-year variable rates available in Toronto since November 1 is at 1.83 per cent, while the lowest available fixed-rate product climbed slightly by 0.35 per cent, up to 2.44 per cent.
