A Variable Rate Substitute

BillboardOne-year fixed mortgages are the next best thing to a variable rate. But a one-year term isn’t for everyone.

If you only need a short-term mortgage, that’s one thing. But if you’re trying to save money and not considering long-term rate risk, that’s another.

This week’s Globe and Mail column looks at 1-year mortgages in depth. More at: Meet the One-Year Fixed…

By the way, if you’re looking for the best 1-year rate, some of the lowest at the moment are from:

  • MCAP @ 2.39%
    • Available through brokers on purchases and refinances; 120-day rate hold
  • First Calgary Financial @ 2.39%
    • Available direct on purchases and refinances; Alberta only; 90-day rate hold

If you know of any other good 1-year deals, let us know and we’ll post them.


Rob McLister, CMT