You may have noticed that different kinds of loans tend to have very different interest rates. For example, a typical 30-year mortgage today has an annual rate of about 6% (which is very low by historical standards). That might not seem like much, but 30 years is a very long time.
Imagine you’re buying a house, [...]
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Any information shared by Econ4U is provided for informational purposes only. The content is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. We recommend that you discuss your specific circumstances with an independent financial adviser.