My mortgage renews next week and I've gone with 4.29% fixed for 5 years. We plan to have the house fully paid off over those 5 years with some extra payments along the way.
I've accepted that the likely outcome is variable over 5 years probably works out better, but I valued the certainty of the rate over the rest of my mortgage much higher and it eliminates any stress relating to rate changes. The fact that we're nearing the end of the mortgage as well helped minimize the impacts of the rate.
__________________
Much like a sports ticker, you may feel obligated to read this
|