Canada: As fixed-rate mortgage rates decline, experts caution against longer-term mortgages

Global News has the story.

Canadians aiming to purchase a home this year have a lot of decisions to juggle, and those looking to secure or renew mortgage agreements have seen rates on some longer-term products drop.

For the first time in months, some five-year fixed rates are sitting around the five per cent mark.

But as fixed-rate mortgage rates start to come down, some brokers are warning against locking-in longer-term mortgages.

Global's Kyle Benning reports.