Quote:
Originally Posted by Rerun
Why do you think that? Do you think it would be a big mistake to wait a year before locking into a 5 yr fixed rate?
Currently the five year rate is approx. 0.69 to 0.99% higher than the best 1 year fixed rate.
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"monunmentally stupid" was probably a bit strong. You should be able to get 3.75 from a big lender right now on a 5yr fixed. It's safe to say it isn't going lower but over 5 years won't you lose a lot more if rates climb even a bit before locking than you would save preceding it with a 1yr fixed?