Canada’s economy has so far managed to avert recession and shrug off the fastest rate-tightening cycle in the nation’s history. And one of the key reasons for that is due to the prevalence of fixed-payment variable-rate mortgages, which experts say have cushioned borrowers from the full impacts of the Bank of Canada‘s rate hikes. Fixed-payment variable rates, which are offered by banks such as TD, BMO and CIBC, mean the borrower’s monthly payment remains the same as rates increase, while […] 

Canada’s economy has so far managed to avert recession and shrug off the fastest rate-tightening cycle in the nation’s history. And one of the key reasons for that is due to the prevalence of fixed-payment variable-rate mortgages, which experts say have cushioned borrowers from the full impacts of the Bank of Canada‘s rate hikes. Fixed-payment variable rates, which are offered by banks such as TD, BMO and CIBC, mean the borrower’s monthly payment remains the same as rates increase, while  Mortgage Rates & Mortgage Broker News in Canada