10 year fixed mortgage rates in Canada would typically be higher than short term mortgage because the former puts the lender in a riskier situation. It is also the most risk-averse selection of mortgage for home buyers because the monthly payments remain constant throughout the period and are safeguarded from any market fluctuations. Further, this duration of loan repayment must not be confused with amortization period or the time to repay your entire mortgage amount. After the 10-year period, homeowners have to renew their mortgage with a new lender if they are not satisfied by the current rate offered by the existing lender.
RateGuru is here to assure you the best-fixed mortgage rates in Canada with the flexibility to choose a new mortgage that suits your specific needs. Our experienced team of licensed mortgage professionals is here to streamline the entire mortgage process with a clear understanding of each of the risks and rewards associated with them. With the right expertise and knowledge, we guarantee lower mortgage rates compared to other mortgage companies with effective debt consolidation strategies. If you too are in the processes of mortgaging, give us a call to get the best deal!
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