Mortgage terms : a study of optimal term selection in Canada, 1960-1994 / prepared for: Market Analysis Centre, Canada Mortgage & Housing Corporation; prepared by: Mary McDonough Research Associates. : NH15-930/1996E-PDF

"Canadian households who are either renewing an existing mortgage or getting a mortgage for the first time continue to be confronted with the issue of which is the optimal mortgage term choice. Indeed, the question for most mortgage borrowers remain - should they lock into a longer term rate or should they go short and roll their mortgage over continuously into short terms? The objective of this technical paper is to address several key issues related to mortgage term selection. The paper first compares, on an historical basis, the relative costs of consistently choosing a short-term rollover strategy versus locking into a five-year term mortgage. The historical analysis encompasses the period from 1960 - 1994"--Executive summary.

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