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The True Cost of Interest-Only Mortgages

This Nanaimo Bulletin story stresses the importance of evaluating the total cost of borrowing when considering an interest-only mortgage.

Their example shows how a $200,000 interest-only mortgage costs about $13,500 more over 10-years than a traditional fixed mortgage.

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Last modified: March 19, 2007

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.