Short-term, fixed-rate mortgages are gaining popularity among Canadian homebuyers, partly due to expectations that interest rates will fall in the coming years, a report from the Canada Mortgage and Housing Corporation suggests.
Homebuyers are increasingly choosing fixed-rate, shorter-term mortgages instead of the standard five-year agreements, according to the report. The trend has been growing since 2023, and has surged since the beginning of this year.
