I plan to buy a home in the near future. When should I decide on whether to select a fixed or variable mortgage?
Actually, this should be a last-minute decision. The financing market changes often enough so that the best financing mode one month may not be the best the next month. If you expect to live in the house for a long time and you feel that interest rates will increase, you may lean toward a fixed rate. An equally sound case can be made for the lower initial interest offered on variable rate mortgages. If you don’t expect to live in the home for a vey long time, the variable rate mortgage would be the answer.
Related Questions
- The full specification of the conversion kit is now available here and individual parts prices will be announced in the near future. Can I buy the donor car directly from M-Sport?
- I plan to buy a home in the near future. When should I decide on whether to select a fixed or variable mortgage?
- Can I get pre-approved (not just pre-qualified) for a mortgage before finding a home to buy?
