Quote:
Originally Posted by V
So on ratehub I can get a 5 year fixed mortgage at 2.35% or a 5 year variable at 1.84%. Going by that, I would only lose on variable if Prime goes up by a full percent in less than 2.5 years, basically, to keep it simple.
It looks to me like something like that has only happened once since 1994.
That said, I have a family and a large mortgage, so locking in at half a percent higher right now is probably worth some piece of mind.
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Exactly what i'm thinking. I think you put in your assumption that you'll get the posted rate at 2.5 years of 3.35%. That's a long time to watch to markets.