pularity of variable-rate mortgages plummets to pre-pandemic levels

The article highlights the decline in popularity of variable rate mortgages in Canada, which have dropped to pre-pandemic levels. According to recent data, borrowers are increasingly opting for fixed-rate mortgages due to concerns about potential interest rate hikes in the future. Factors such as economic uncertainties and the desire for stability have contributed to this shift in preference. The article discusses the implications of this trend on the mortgage market and provides insights into the benefits and drawbacks of variable and fixed-rate mortgages.