Quote:
Originally Posted by Monahammer
I locked in at a 5 year 4.39 last June. Same bank is offering 4.24% 5 year posted today. I was having people tell me to take the variable but I'd still be above my current rate on the variable today.
IMO there's a massive benefit to consistency and clarity in these times.
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I think there's a benefit to that in all times... being able to plan your finances with certainty years out is very important, I think.
That doesn't mean you don't take a variable, necessarily - you can often convert it to a fixed rate later on with little or no penalty. I'm hoping we see fixed rates under 4% in the next few months, which is good because I'm about to have a big chunk of new debt. Paying two mortgages simultaneously is going to be... not a lot of fun.