Locking in your mortgage could save you money

OTTAWA — Homeowners with variable-rate mortgages have seen their rates go up over the past year as the Bank of Canada has raised its key interest rate target four times.

And now, with economists expecting the central bank to hike its target interest rate again next week, those who have continued to stick with the variable-rate option may again be thinking about converting to a fixed-rate mortgage.

Scott Evans, a financial planner at BlueShore Financial in North Vancouver, B.C., says you...

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