In a recent article published by Le Devoir, Véronique Caron, a Multi-Prêts mortgage broker, shared her perspective on the current market situation. She outlines a reality that affects many homeowners and prospective buyers: interest rates are fluctuating, uncertainty remains… but some options can help stay one step ahead.
“Currently, variable rates are around 4.25%, while five-year fixed rates are around 4%. They are very close,” she notes. Even though the policy rate is currently on hold, there is no certainty about what will come next. In fact, “bond market volatility has led to a slight increase in fixed rates,” Véronique adds.
Locking in your rate: a strategy with its advantages
For those considering buying or renewing their mortgage in the coming months, it is possible to “lock in” a rate up to six months in advance. As Véronique Caron explains: “You won’t be bound by it, and if rates drop in the meantime, you can still switch to a lower rate.”
This type of option provides flexibility and helps reduce anxiety related to market fluctuations. It is a simple way to protect your plan without locking yourself into it.
Being well supported to make better decisions
In this uncertain context, getting ahead also means giving yourself time to think about the right strategy. And for that, our mortgage brokers are here to present clear, concrete options tailored to your situation.