During a time when safety is a top priority across the country (and the world), Canadians seem to be finding unique areas within which to go out on a limb. To take a little risk, as a treat.

And one of these daring outlets is, evidently, the selection of mortgage types.

According to new data from RATESDOTCA, interest in variable-rate mortgages increased 147% from October 2020 to 2021, “indicating a seismic shift” in how Canadians are approaching mortgage products.

Last fall, only 12.96% of Canadians who started a quote on RATESDOTCA selected a variable-rate mortgage, while 87.5% selected a fixed-rate. This month, meanwhile, 31.97% opted for variable-rate, while the percentage of those choosing fixed-rate dropped to 68.03%.

Continue to read on: STOREYS