If you’re shopping for a new mortgage, or coming up for renewal, you likely wish you had a crystal ball. Picking the “right” mortgage rate is tricky at the best of times, but it requires an extra dose of strategy when borrowing costs are trending lower.
Today’s variable mortgage rates remain elevated, and there’s plenty of uncertainty about how much lower they’ll go – and how quickly. Locking into a fixed-rate mortgage, however, could find a homeowner stuck with a high-interest mortgage long after rates start to ease.
So what’s a savvy borrower to do?
A common strategy over the past year has been to take out a fixed-rate
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