7 year fixed mortgage rates canada

As homeowners when you go for a mortgage at a fixed rate, then your payment remains the same for the entire duration. The rates for a fixed mortgage are usually a bit higher than a variable mortgage but there is more security in terms of knowing the exact figure that needs to be paid which isn’t the situation with the latter. RateGuru is a trusted name in the Canadian mortgage industry that offers some of the best fixed mortgage rates in Canada. Depending on your risk-taking ability and financial circumstances, we offer home mortgage solutions that are customized and profitable.

Going for 7 year fixed mortgage rates in Canada allows homeowners to renegotiate the rate of interest with lenders after the end of tenure. Though, one must not confuse it with the amortization period or the length of time to pay off your mortgage in full. And, there are no additional charges or penalty when a borrower shifts lenders after the seven-year period to renew his/her mortgage. This mortgage term is ideal for those individuals who have plans of living on the property for the long-term. Are looking at getting some advice on your upcoming mortgage? The Call Us NOW!


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*Calculation does not include mortgage insurance premium. Mortgage insurance premium will depend on your credit profile and the down payment amount. Assume an extra $20 per payment on average, over the amortization period of the mortgage.

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First Mortgage
First time mortgage doesn’t mean only the first home home that you buy. It can also mean the primary lien on the property you are planning to buy. It’s not about the level of home buying but the property itself. The term mortgage is a security for the lender.