Paying off mortgages quickly is often a topic, how much faster it happens compared to the US is another thing. Typically, you decide on how you are going to ap

Paying off mortgages quickly is often a topic, how much faster it happens compared to the US is another thing. Typically, you decide on how you are going to approach the interest rate, and for how long. Owners can lock in for a fixed interest rate, or a variable rate that changes with prime. Term is most often 5 years, but latesly shorter or more flexible mortgages are more popular, sometimes between 2-4 years, and some folks who might take a risk on a 5+ year mortgage rate. The variable rate mortgages out performed fixed rate mortgages for nearly 15-20 years. The tables turned in the past year or two.