Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - What's your forecast for mortgage rates for the next 12 to 18 months? Advice wanted.

Cowperson · 05-07-2009, 10:38 PM

Focus on this question first . . . . if interest rates were to rise, would you be able to afford an increased payment?

If the answer is "no," then lock in your rate immediately to give yourself certainty regarding affordability. The direction of rates is pretty much irrelevant to your situation since you can't afford rolling the dice.

If the answer is "yes," short, variable rates would probably be the cheapest approach. Even when we see rates beginning to rise, it is likely we'll only go back to what we saw through much of the 2000's, which are historically fairly average.

Cowperson

05-07-2009, 10:38 PM	#22
Cowperson CP Pontiff Join Date: Oct 2001 Location: A pasture out by Millarville Exp:	Focus on this question first . . . . if interest rates were to rise, would you be able to afford an increased payment? If the answer is "no," then lock in your rate immediately to give yourself certainty regarding affordability. The direction of rates is pretty much irrelevant to your situation since you can't afford rolling the dice. If the answer is "yes," short, variable rates would probably be the cheapest approach. Even when we see rates beginning to rise, it is likely we'll only go back to what we saw through much of the 2000's, which are historically fairly average. Cowperson __________________ Dear Lord, help me to be the kind of person my dog thinks I am. - Anonymous