caamp: SHOULD I SIGN FOR A VARIABLE OR FIX MORTGAGES RATE - 09/15/09 10:09 AM
The question that all mortgage borrowers ask us most often:
Is it better to opt for a fixed- rate mortgage or variable rate mortgage? For several years, the classic answer was always: it depends on your cash flow and your tolerance for risk, but the variable rate mortgage or short term has been more advantageous in the long term. Example:
During the period 1950 to 2000, a Canadian borrower would have paid on average $ 22 000 in interest over costs on a mortgage of $ 100 000 amortized over 15 years, opting for fixed rate mortgages for five years instead … (1 comments)

 

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