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Rob Carrick, David Larock answer your mortgage questions

The stakes have never been higher for making the right choice in a mortgage. Housing prices are high, and mortgage rates are as low as most people have ever seen.

Does that argue for locking into a long-term mortgage of five or even 10 years? Or, is it better to cruise along with the lowest rates possible by going with a one-year fixed or variable-rate mortgage? Also, there's a lot of talk these days about whether Canada's housing market is headed for a decline. How might a big drop in prices affect your next mortgage renewal?

On May 23, Globe and Mail personal finance columnist Rob Carrick and mortgage broker David Larock joined us for a live Google hangout to answer readers' mortgage questions. You can replay the video below.

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