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      09-25-2021, 10:26 AM   #21
tom2021
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Drives: 2017 BMW X3 xDrive28i
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Quote:
Originally Posted by 2000cs View Post
Thanks. I understand 2-5 but why pay down the mortgage assuming it is a fixed rate mortgage?
In Canada, we only can get mortgage rate fixed for maximum 5 years.
The mortgage is amortized for 25 years and the term is renew every 5 years.
Off course, there are variants of amortization years, variable rate, 1 to 5 years fixed rate.
Appreciate 1
2000cs2902.00