Posthaste: Ouch — here’s how much variable-rate mortgages have cost Canadian homeowners ...Middle East

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Posthaste: Ouch — here’s how much variable-rate mortgages have cost Canadian homeowners
Breadcrumb Trail Links News Variable rate borrowers have paid 63% more in interest than fixed over past two years Published Sep 21, 2023  •  5 minute read Variable rate borrowers have paid 63% more in interest than fixed-rate borrowers over the past two years. Photo by Getty Images Article content Article content Good morning, Remember when variable-rate mortgages were all the rage. Canadians have traditionally tended towards a fixed-rate mortgage, but when the Bank of Canada lowered its benchmark interest rate to 0.25 per cent during the turmoil of the pandemic the popularity of the variable-rate soared. Even as late as July, 2022, 57 per cent of mortgag

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