Quick question?
Variable or fixed?
Variable or fixed?
Mortgage rates
- Thread starter ToSlow
- Start date
Quick answer: It’s different for everyone.
You want predictability and peace of mind? Fixed
You wanna ride the tariff / inflation / global event wave? Variable
I wanted the latter…went from 2.79% fixed to 1.1% and then all the way to 5.9%
Do not recommend…won’t do it again.
Now at 3.45% and anxiously waiting to see what happens next.
You wanna ride the tariff / inflation / global event wave? Variable
I wanted the latter…went from 2.79% fixed to 1.1% and then all the way to 5.9%
Do not recommend…won’t do it again.
Now at 3.45% and anxiously waiting to see what happens next.
Hoping the rates are going to drop again, i've got till Nov to make the choice
POWERMAN
Well-known member
I had to renew in Nov last year. Ended up going with Fixed just for peace of mind. Went up $300/month - I can live with it for the next 3 years.
I knew things 'could' get a bit sketchy once the new administration was established in the US.
Rumour has it rates could drop 2 more times this year...but who's to know..
I knew things 'could' get a bit sketchy once the new administration was established in the US.
Rumour has it rates could drop 2 more times this year...but who's to know..
I have to make that choice in Jan 2026. We’re on a fixed and it would be grea to if the rates continue to drop and we can renew on a lower fixed.
It’s also the first time in my life being on a fixed and it was a very well timed decision! Usually we get 5yr terms but this time we got a 3 yr term and it’s worked out well.
Not sure if you deal with brokers, but for me, that’s the way to go.
you’ve got time to shop around. I’m also hoping for some rate drops…but that means economy is
…My payments went (approx) 980->800->1264->1033 bi weekly during the fun times.
If I find fixed again sub 3% I’m locking in.
Have a great broker if you want someone to talk to.
If you don’t mind, send me a message…thxyou’ve got time to shop around. I’m also hoping for some rate drops…but that means economy is
My payments went (approx) 980->800->1264->1033 bi weekly during the fun times.
If I find fixed again sub 3% I’m locking in.
Have a great broker if you want someone to talk to.
If anyone really knew what was best , there would not be two options and brokers would all own Ferraris .
I was always fixed because I knew I could cover that amount and keep the house for x yrs . Friends went variable and either told me how much they saved or how much more it was costing .
Fixed allowed me to take a Twenty five yr mortgage, use two a month payments that would pay it out in twenty one yrs . With a couple windfalls it was gone in nineteen. Fixed served my needs .
I paid a high of nine point five and was on a fixed mortgage that crazy yr they went to seventeen, fixed for five yrs helped me jump that wave , but that was just luck on my part . Just remember banks are not your friend , thier job is to give you as much much credit as they can , swallowing the interest in on you .
Sent from my iPhone using GTAMotorcycle.com
I was always fixed because I knew I could cover that amount and keep the house for x yrs . Friends went variable and either told me how much they saved or how much more it was costing .
Fixed allowed me to take a Twenty five yr mortgage, use two a month payments that would pay it out in twenty one yrs . With a couple windfalls it was gone in nineteen. Fixed served my needs .
I paid a high of nine point five and was on a fixed mortgage that crazy yr they went to seventeen, fixed for five yrs helped me jump that wave , but that was just luck on my part . Just remember banks are not your friend , thier job is to give you as much much credit as they can , swallowing the interest in on you .
Sent from my iPhone using GTAMotorcycle.com
We went fixed from 13% to 12.5% over five years, bridging the 22% in between. Scary days.
Looks like lots of houses going on the market now,
People can’t afford a 1.5 million and up home, when the interest rates went up last time the lenders set prices higher. Leaving a lot of people scrambling now as they have a 4500 or monthly mortgage payment
People can’t afford a 1.5 million and up home, when the interest rates went up last time the lenders set prices higher. Leaving a lot of people scrambling now as they have a 4500 or monthly mortgage payment
For the tail end of my mortgage I'll be staying fixed, did variable in the past with no issues, but now I prefer stability in my monthly payments etc.
I live on a pretty rural road and almost every property/farm/home is up for sale
I live on a pretty rural road and almost every property/farm/home is up for sale
