when getting a new mortgage or if you are renewing our current mortgage, the big question is do you go with a variable (floating rate) or take the security of a fixed rate. In recent years a number of lenders will allow you to have both mortgages, under the umbrella of one mortgage. In laymen terms they are called combination or hybrid mortgages, where the lenders will allow you to take advantage of the very low variable rate for a potion of your mortgage and put the rest in a secure fixed rate. This gives you the best of both worlds. When using a mortgage broker you will always get the wholesale rates as well as the right advice to determine if this type of mortgage is best for you. Please click here for the complete article form National Post.
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