Читать книгу Complete Home Buyer's Guide For Canada - Geraldine Santiago - Страница 14

A closed mortgage usually offers the lowest interest rate available at any given time. It’s a good choice if you’d like to have a fixed rate to work your budget around for a few years. However, closed mortgages are not flexible, and there are often penalties or restrictive conditions attached to prepayments or additional lump sum payments. It may not be the best choice if you might move before the end of the term.