“Canadians are highly motivated to repay their mortgages as quickly as possible,” says Dunning. “The surveys find consistently that each year about one-third of. The most popular type of mortgage.
This term sits in the middle of the available mortgage term lengths, that is, between 1 and 10 years, thus has risk-neutral average popularity. The majority of younger borrowers prefer the 5-year fixed mortgage rate in Ontario, while older age groups prefer variable rate mortgages.