The interest rate on Canada’s most popular mortgage, the five-year fixed rate, has fallen to its lowest level in history – but what does that mean for homeowners and buyers?

In early June, HSBC made headlines when it began offering Canadians a five-year fixed-rate mortgage below 2%. Multiple brokers followed suit, and some are now advertising even lower rates.1 And while many Canadians have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today...

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