Why mortgage brokers tend to favour variable rates over fixed (opens original article in a new tab)

Mortgage brokers tend to favor variable rates over fixed rates because they offer lower rates, easier qualification, and lower break fees, making them more competitive than banks.

• Mortgage brokers favor variable rates over fixed rates due to lower rates and easier qualification.
• Brokers have access to multiple lenders, allowing them to offer more competitive rates than banks.
• Variable rates are preferred by brokers because they result in lower break fees and are more flexible for borrowers.