National

Amidst inflation which mortgage to chose?

Darpan News Desk The Canadian Press, 09 Oct, 2023 10:14 AM

It is a conundrum that has faced countless homebuyer in recent years -- choosing a fixed- or variable-rate mortgage

That question has taken on even more significance following the Bank of Canada's recent run on rate hikes.

Meridian Credit Union's Allison Van Rooijen says she's seeing borrowers increasingly opt for fixed-rate mortgages because of the stability they offer.

Another trend she notices among fixed-rate borrowers is they're opting for shorter terms than the typical five-year loan as they take a wait-and-see approach to where interest rates are headed next.

Prev Next

MORE National ARTICLES

Who will become Manitoba's next premier? A look at party leaders vying for the job

Manitoba's provincial election is to take place Tuesday. Here's a look at the leaders of the province's three parties that have seats in the legislature.

Who will become Manitoba's next premier? A look at party leaders vying for the job

Diwali fireworks advisory issued despite warnings it might be discriminatory: emails

An Environment Canada advisory that singled out Diwali fireworks as a reason to prepare for poor air quality last October was issued despite multiple warnings from some staff about it being discriminatory. The advisory was edited and an apology issued within hours as complaints poured in to the national weather service the morning the annual Indian festival of lights was set to begin.

Diwali fireworks advisory issued despite warnings it might be discriminatory: emails

RCMP confirm Indigenous teen missing in Williams Lake has been found safe

RCMP Staff Sgt. Kris Clark says the 13-year-old is safe. He did not say where she was found. An earlier release from the Williams Lake detachment said she was not believed to have left the Cariboo city.

RCMP confirm Indigenous teen missing in Williams Lake has been found safe

Fire in Vancouver's Kerrisdale neighbourhood destroys or damages five businesses

Vancouver Fire and Rescue Chief Karen Fry says in a social media post that flames broke out before midnight Sunday prompting a three-alarm response to the large fire. The blaze involved five shops on 41st Avenue between Maple Street and East Boulevard, including two restaurants, a bakery, a yogurt shop and a vegetable market.

Fire in Vancouver's Kerrisdale neighbourhood destroys or damages five businesses

Winter tires now required

B-C's winter driving regulations are now in effect. Winter tires or chains are required on most highway routes throughout the province from the start of October to the following spring.

Winter tires now required

2 in hospital after Cloverdale collision

One man is in custody following a collision that sent two pedestrians to hospital yesterday afternoon. The pedestrians, a 24-year-old man and a 24-year old woman, were transported to hospital with serious injuries. A suspect was arrested in the area shortly after the collision.