With low interest rates, is it time to reconsider your mortgage?
Filed Under Main Content · Tagged: Amp, Borrowers, Cloverdale, Fixed Mortgage, Fixed Rate Mortgage, Home Statistics, Invis, Low Interest Rates, Mortgage Consultant, Mortgage Interest, Mortgage Rate, Mortgage Rates, Senior Mortgage, Vancouver Sun, Variable Mortgage, Variable Rate
Vancouver Sun- With mortgage rates low and more likely to go up than down, some borrowers may want to think long and hard about whether they want a long and hard — fixed, that is — mortgage rate.
The first question is whether to go fixed or variable when borrowing to buy a home. Statistics show that 88 per cent of the time, a variable mortgage is cheaper than a fixed-rate mortgage, said Feisal Panjwani, senior mortgage consultant with Invis-Feisal & Associates Mortgage Consulting in Cloverdale. But the problem with a variable rate is that it is just that: It changes over the life of the mortgage…
With low interest rates, is it time to reconsider your mortgage?
