DanDha : I agree with what you said, but I would like to know why it is like that.

Avaliye OP DanDha : My reasoning here is that, with all the layoffs and the banks tightening their lending, people can no longer afford to hold RE as an investment and they will be looking to dump it fast. They can’t get enough in rent to cover their mortgage and they are likely over leveraged that they risk bankruptcy come renewal while simultaneously they are on the cusp of fear of losing their jobs.

70727465 : More easing measures are expected in Canada, allowing for mortgages of up to 90% loan-to-value without the need for insurance by next year. Additionally, stress tests may be removed, making it easier for buyers to qualify.

Nekrosis : I got a variable in 2022. Everyone was telling me I was stupid, and should go fixed at 5.45%.
Don't worry, you weren't being dumb at the time.
See if you can break the contract and refinance, if there fees are less than the difference in interest you would pay over the 5 year term, it's a no-brainer

Lauren_investement OP Nekrosis : In 2022, a lot of people probably recommended the OP to choose a fixed interest rate due to concerns about rising rates, but looking back now, things always have two sides to them.

101550592 :

104247826 :

Laine Ford : no comment