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As fixed-rate mortgage rates decline, experts caution against longer-term mortgages

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Canadians aiming to purchase a home this year have a lot of decisions to juggle, and those looking to secure or renew mortgage agreements have seen rates on some longer-term products drop.

For the first time in months, some five-year fixed rates are sitting around the five per cent mark.

But as fixed-rate mortgage rates start to come down, some brokers are warning against locking-in longer-term mortgages.

Global's Kyle Benning reports.

For more info, please go to https://globalnews.ca/news/10219789/fixed-mortgage-rates-canada-january-2024/

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Category
U.S. & Canada
Tags
global news, housing, houses
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