Tuesday, November 8, 2011

Variable-rate mortgages are so over.

Rob Carrick, the Personal Finance writer for the Globe and Mail says that with the variable rate mortgages being sold at prime which is 3% why would anyone want this product. There are 4 year fixed rate mortgages available on the market now at 3% or3.09% so why take the risk. Rates are not going to go down so for the first time in 10 years Carrick is saying go fixed rate. If you want to discuss variable vs fixed rate and how it would affect your monthly payments call me and we'll talk.
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