http://mortgagevancouver.wordpress.com Tips, Advice, and Explanations from a Vancouver Mortgage Broker Thu, 27 Nov 2008 03:04:38 +0000 http://wordpress.com/ hourly 1 http://mortgagevancouver.wordpress.com/2008/11/23/fixed-rate-or-variable-rate-mortgage-which-is-best/#comment-76 maybbq Thu, 27 Nov 2008 03:04:38 +0000 http://mortgagevancouver.wordpress.com/?p=171#comment-76 Agreed. If there is only 4.9% 5-year fix and p+1% variable to choose from, I prefer the fixed. Although there might be another small cut next month, P wouldn't go below 3% in next 2 years, but likely up to 5 or higher later. However, by far I am still comfortable with my current p-2.3 (after the first 3 months p-0.65 variable 6 years term, that is, after January 2009). Variable is like gambling, having fun when rate cuts but hurts otherwise :) No one knows how it goes after 6 years, maybe then fixed rates getting higher again (comparing to variable)? Agreed. If there is only 4.9% 5-year fix and p+1% variable to choose from, I prefer the fixed. Although there might be another small cut next month, P wouldn’t go below 3% in next 2 years, but likely up to 5 or higher later.
However, by far I am still comfortable with my current p-2.3 (after the first 3 months p-0.65 variable 6 years term, that is, after January 2009). Variable is like gambling, having fun when rate cuts but hurts otherwise
No one knows how it goes after 6 years, maybe then fixed rates getting higher again (comparing to variable)?

]]> http://mortgagevancouver.wordpress.com/2008/10/08/bank-of-canada-lowers-prime-rate-banks-do-not-follow/#comment-55 j2eeblogger Sun, 12 Oct 2008 20:52:46 +0000 http://mortgagevancouver.wordpress.com/?p=130#comment-55 Nice article. Hope the credit crunch can be solved effectively or the whole world is gonna hurt. Nice article. Hope the credit crunch can be solved effectively or the whole world is gonna hurt.

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