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What to take Fixed or Variable

04 Oct

This is a typical question I hear on a regular basis.  I wish I had a crystal ball to answer this however everyone has there own tolerance.  When you look back at the rate charts for the last 25 years statistically clients have been in a better financial position taking a variable rate mortgage however there are risks.  Should rates change in an upward direction so will your current mortgage payment.  The plus for this is you always have the option to lock in to a fixed rate but just know you can’t go back without paying a penalty.  many clients feel secure with a variable as they watch the rates, watch the economy and take advantage of our strategies to save thousands in interest.  There are some clients who just don’t gamble and feel better laying there head down at night knowing they don’t have to worry there mortgage interest rate will increase for them

 
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Posted by on October 4, 2011 in Uncategorized

 

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