Spotlight: Time to reconsider a variable mortgage rate?

Due to the Bank of Canada's rate increases, the variable rate mortgage has seen low uptake among mortgage consumers, as most have chosen a fixed rate mortgage over a variable one. However, if the rate of a variable rate mortgage is the same or lower than a short-term fixed rate, it could offer a quicker route to budget relief once rates start to drop. Thus, it is important to consider all variables and factors before making a decision on a rate.

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