Quote:
Originally Posted by MaDMaN_26
A Realtor once told me that there has never been a 5 year period in the last 50 some years (he said I could pick any start and stop date as long as it was five year spread) where fixed mortgages out performed open or floating mortgage rates... so as long as you are ok with the interest moving and your payments fluctuating a little, that is maybe the way to go as well. In the end though you have to do what your most comfortable with... no sense being stressed or worried about it.
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First off, variable rate mortgages in Canada do not have fluctuating payments. Rather, changes in interest rates changes the term length.
Second, although what the rest you have said is mostly true, if you're a first time homebuyer, you can usually find smoking great mortgage deals, fixed rate mortgages included.