Quote:
Originally Posted by Muta
Sooo... should I suck up my ego, bite the bullet and lock my mortgage in (ie. equivalent of buy low sell high, haha)? Or has that ship sailed and now I should ride out my variable rate in the hopes rates go down later... got 2.5 years left until renewal  |
Honestly, this is an extremely personal question as you, and only you know your own risk tolerance. If these rates and the potential for higher rates in the near future are causing you to lose sleep, then maybe lock for 3 years and revisit at the end of the term.
Fwiw, a buddy of mine bought a new house in Feb this year and went variable. Each rate hike is painful. And he doesn't have the luxury of locking in for a short term. He basically has to lock for 5 years. Which is another set of headaches.