- Joined
- Feb 25, 2009
- Messages
- 67
With the current 5 yr. fix at 2.04 % vs. variable of P-0.6 (1.85%), Will it be safe to say that better to take out a 5 yrs. fix now.
Love to hear your thoughts
Love to hear your thoughts
By registering with us, you'll be able to discuss, share and private message with other members of our community.
SignUp Now!With the current 5 yr. fix at 2.04 % vs. variable of P-0.6 (1.85%), Will it be safe to say that better to take out a 5 yrs. fix now.
Love to hear your thoughts
The 5 yr fixed typically has the worst penalty if you need to break the mortgage for any reason. I prefer variable or short term (1-3 year) fixed.
Sent from my iPhone using myREINspace
Royal Bank
Go with a variable rate if you may wish to sell prior to 5 year anniversary as max 3 month penalty unlike fixed rates. Line up mortgage with your property goals. Of long term then 5 year ok unless it’s well over 2%.
So in your case 2.04% is fine if you envision owning 5+ years although of course 1.8% is cheaper !!
Thomas Beyer, Asset Manager, Investor, Community Improver, Author, Father, Mentor www.prestprop.com
The 5 yr fixed typically has the worst penalty if you need to break the mortgage for any reason. I prefer variable or short term (1-3 year) fixed.
Sent from my iPhone using myREINspace
Also, 5 year fixed is at 1.85 today and less with certain conditions
Sent from my BBF100-2 using myREINspace mobile app