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10-Year Fixed Mortgage Rates

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Historical 10-Year Fixed Mortgage Rates From 2006 – Today

10-Year Fixed Rate Mortgage

  • Mortgage rate is fixed over a 10-year term
  • 7% of Canadians have a mortgage terms between 6-10 years
  • 66% of Canadians have fixed mortgage rates
  • 10-year fixed mortgage rates follow 10-year government bond yields

Stay protected against interest rate fluctuations with long-term fixes

Traditionally, the 5-year fixed mortgage is considered as the granddaddy of mortgages in Canada, but the 10-year product has a new appeal. Borrowers usually steer clear from longer-term fixes and favor shorter term deals for the fear of missing out on great rates that become available later on. But, the low rates which are now available on longer term fixes are making long-term fixes increasingly attractive. It is extremely appealing to take the risk out of financing and budget your housing costs for the coming 10 years, whether you are an end-user with a long-term hold or an investor.

If you too want to fix your mortgage rate for 10 years, now is a fantastic time to do it with so many great rates on offer. You can then sit back, relax and know for sure what your mortgage payments for the coming 10 years will be. Another advantage of 10-year fixed mortgage is that you won’t have to go through all the inconvenience of re-mortgaging again in three or six years, working out costs, or worrying about equity in your home.

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