Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Should I fix or should i stay Variable ??

Knut · 04-15-2010, 04:09 PM

I posted this in the power ring forum, but i thought i could get more exposure here.

http://www.canadianmortgagetrends.co...19-months.html

There are some estimates that the rates with increase 2.75% over the nexst 19 months.

So help me out here.

Currently I have a Prime- 0.75% Variable rate mortgage which expires in March of 2013. I can fix @ 4% before the weekend ends. What should I do ?

Predicting the future is tough here, but what is known is that regardless the banks will likely be increasing their fixed mortgage rates over the next year.

So... right now I pay 1.5%. IF i were to fix i would instantly have to pay an addtional 35% on my mortgage. However, if i fix in a year or two, i would likely be paying for a much larger increase.

Thoughts ??

04-15-2010, 04:09 PM	#1
Knut Join Date: Oct 2002 Exp:	Should I fix or should i stay Variable ?? I posted this in the power ring forum, but i thought i could get more exposure here. http://www.canadianmortgagetrends.co...19-months.html There are some estimates that the rates with increase 2.75% over the nexst 19 months. So help me out here. Currently I have a Prime- 0.75% Variable rate mortgage which expires in March of 2013. I can fix @ 4% before the weekend ends. What should I do ? Predicting the future is tough here, but what is known is that regardless the banks will likely be increasing their fixed mortgage rates over the next year. So... right now I pay 1.5%. IF i were to fix i would instantly have to pay an addtional 35% on my mortgage. However, if i fix in a year or two, i would likely be paying for a much larger increase. Thoughts ??