Quote:
Originally Posted by indes
I have a friend who bought a new house at the same time as we did (1.67%) and he went variable because "I've always had variable and it's always worked out".
I imagine lots of people are the same way.
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I think it boils down to the actual reasoning:
- life uncertainty and wanting flexibility to break mortgage early? Sure.
- want to pay down principal ASAP and use the monthly 'savings' compared to fixed against the principal? Great.
- want to save like ~$100 per month because otherwise you can barely make your budget work at all? Yikes.