Quote:
Originally Posted by Azure
The amount of variable rate mortgages is stunning. Did people honestly not realize interest rates were going to go up again? Locking in at 2.2%, versus variable rate 2% and 'oh so much cheaper', but not thinking we are due for a big increase? Or am I missing something?
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You have to remember that everyone's an expert and 100% of those variable rate holders were going to time the market perfectly and lock in before rates started to increase.
