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Today's Special: 2.36% 5-year Closed VR Mortgage
The interest rate is usually compounded monthly and fluctuates with the prime rate at the chartered banks. Statistically speaking, in the last 30 years in Canada, homeowners with variable rate mortgages saved money 90% of the time. I recommend a VRM also because of its favourable pre-payment penalty is limited to only 3 months' interest. Call me for more details. the press agree.