I was dead set against variable rate mortgages until my broker broke it down for me last Tuesday

I talked to my mortgage broker Steve from TD in Mississauga for like an hour. He explained how variable rates have actually outperformed fixed rates in 7 of the last 10 years if you can stomach the risk. He showed me a chart from 2016 to 2022 where someone with a variable saved over $12,000 compared to fixed. Now I'm thinking maybe I was too rigid about this whole thing. Has anyone else here actually run the numbers on variable vs fixed?

2 comments

2 Comments

miles7981mo ago

I read that same stat somewhere and it got me rethinking everything.

stella9041mo agoTop Commenter

The 73% stat actually comes from a small sample of like 200 people in one city. I dunno if that's enough to base big decisions on.