Finding the home of your dreams is certainly a challenge, but deciding between a fixed or variable rate mortgage can prove to be one of the more difficult home-buying experiences. As far as statistics go, it’s cheaper to go with a variable rate 88% of the time. At the end of the day though, it comes down to risk-tolerance, proper budgeting and personal preference. For more insight on the decision-making process, check out this article from the Vancouver Sun.

Vancouver Sun - July 27, 2010

Woman: “How was your date last night?"
Realtor: “He’s a charming fixer-upper. I may flip him.”

The Bank of Canada has raised its key interest rate to 0.75%, despite cautious revisions to Canada’s economic growth forecast. This is the second consecutive rate hike from the central bank, making Canada the only country in the G7 to raise rates following the recession. Click the link for the full article.

The Province – July 20, 2010