Posted by: Daryl & Wendy Ashby | June 14, 2011

The Relevance (or Irrelevance)

61% of Canadians expect higher interest rates one year from now. 24% believe rates will stay the same.

These stats are from a recent 1,000-person CIBC-Harris/Decima survey. Respondents were also asked: If you had to choose between a fixed or variable-rate mortgage today, which would you select?

Their answers: •39% would choose fixed •32% would choose variable •25% were undecided Mixed opinion/confusion about rate selection is pretty typical.

Moreover, peoples’ opinions will change as rates change. If we were in the midst of rate hikes and you polled these same respondents, they’d lean more towards fixed rates (if history is a guide).

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