Go to Main Content

Advertisement

By MoneySense Staff on May 17, 2010
Estimated reading time: 1 minute

Homeowners have it both ways

By MoneySense Staff on May 17, 2010
Estimated reading time: 1 minute

Combination mortgages increasingly popular.

This article is 15 years old. Some details may be outdated.

Advertisement

As we face the inevitable summer interest rate hike, an increasing number of Canadian homeowners are opting for combination mortgages, in which part of the principal is paid off at a fixed interest rate, and part is paid off at a variable rate. According to RBC, the trend “indicates that Canadians are trying to maximize low interest rates while at the same time retaining the security of a fixed mortgage.” Which sounds a bit like having your cake and eating it too, but then, what’s the point of having un-eatable cake? Other interesting news from RBC’s most recent home ownership poll: more men than women prefer variable rate mortgages, fewer Canadians are planning to buy a home this year than last, and mortgage debt loads, as expected, are going up.

Comments Cancel reply

Related Articles

Canadian couple in their first home happy the BoC held its rate.

Making sense of the Bank of Canada interest rate decision on June 4, 2025

Making sense of the Bank of Canada interest rate decision on June 4, 2025

The Bank of Canada in Ottawa

BoC held its rate on June 4—here’s why

The Bank of Canada held its key rate at 2.75%, citing high uncertainty, tariffs and more.

BoC held its rate on June 4—here’s why

Smiling female CEO wearing glasses talking with company subordinates, discussing business strategies. Colleagues negotiating in positive atmosphere, working at laptops. Cooperation, leadership concept

How to negotiate a job offer to get better benefits

Yes, workplace benefits are negotiable in Canada. Here’s how to get creative and ask for perks that fit your...

How to negotiate a job offer to get better benefits

A woman reads messages on her tablet

Fraud and Scams

Relationship fraud and romance scams: What Canadians need to know

Relationship fraud and romance scams: What Canadians need to know

A person is seen holidng a Nvidia computer chip

What’s behind the Nvidia rally?

Nvidia rallies as the rest of Wall Street drifts after a U.S. court blocks many of Trump’s tariffs.

What’s behind the Nvidia rally?

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House on Wednesday, April 2, 2025, in Washington.

Are there tariffs on Canadian goods in the U.S.?

Carney welcomes U.S. court ruling striking down some U.S. tariffs

Are there tariffs on Canadian goods in the U.S.?

A man smiles at a mirror at the dentist's office

Canadian Dental Care Plan news: All age groups can now apply

As of May 29, Canadians of all ages can apply for dental care coverage. Find out if you’re eligible...

Canadian Dental Care Plan news: All age groups can now apply

A person is seen handing keys to a house to another person.

Buying your first home? Here’s how to get ready to make an offer

Saving up for a down payment is just the first step. Here are the other costs many Canadian home...

Buying your first home? Here’s how to get ready to make an offer

A man looks worried as he checks a credit bill on his phone

Missed credit payments grew by 4% in the first quarter of 2025

More Canadians are missing credit payments compared with last year, according to a report from credit bureau Equifax.

Missed credit payments grew by 4% in the first quarter of 2025

A Scotiabank sign is shown on a shopping mall in Ottawa.

Three of Canadian banks release their earnings

Profits are a mixed bag for Canada’s big banks, but Scotia CIBC and BMO all admit concern for borrowing....

Three of Canadian banks release their earnings