MORTGAGES
Rates
Lock in, or stay variable? The experts debate
Ideal mortgage depends on individual risk tolerance
Last Updated: Thursday, February 4, 2010 | 11:43 AM ET
CBC News
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A recent study found that 88 per cent of Canadian mortgage holders saved money by sticking with a variable rate over the past 10 years. But 68 per cent of Canadian homeowners have fixed-rate mortgages.
Mortgage planners Jas Grewal of The Mortgage Centre and Peter Majthenyi from The Mortgage Architects recently appeared on CBC's The Lang and O'Leary Exchange to weigh the pros and cons of the two options.
Their conclusion? There's no one-size-fits all solution — the ideal mortgage depends largely on your individual circumstances and risk tolerance.
Click on the video player above to see what the experts said.
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