My current rate is 2.34 I locked into a 5 year fixed that is set to renew in April 2025. Feel like I am right in the middle so I am looking for advice. Do i sign a variable mortgage and wait for rates to come down even more as predicted by the end of 2025 then switch over to a fixed when it gets somewhat close to my current rate?
All this stuff seems pretty confusing. To add to the confusion like Erik, i am going through a separation, i had been pre approved to take over the mortgage myself, is it as simple as just assuming the remaining portion of the mortgage or do i do nothing until April? I have a separation agreement from the lawyers, do I just take that to my bank get approved and mortgage doesnt change until its time for renewal in April?
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