Quote:
Originally Posted by Qwerty
I just renewed for 3 year at 4.79% after my 5 year fixed at 3.39% expired. Missed the entire low COVID rate period. Do I kick myself for not going variable 5 years ago, during COVID I sure did, last year+ no. Hindsight is 20/20.
I know Variable beats Fixed "always" long term, but to know exactly what my payment is every month and being comfortable with it saves me the mental stress which is worth the "premium" of being fixed.
Do what is right for you, none of us know what the correct answer is.
Also, if you have cash laying around and don't think you can beat 5% (after tax) in the markets, use it to pay down your mortgage as that is like getting a 5% return on your capital.
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And a very critical point- it’s a
riskless 5% return.
Pretty good if you ask me.