Replying to Avatar Nymmo

Folks need advice - looking to get a mortgage in Canada stick with 3 year fixed rate or go for variable rate (5.86 vs 6.83%)

What makes more sense given current interest rate trends?
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Cari₿ou Farm 1y ago

My opinion: variable. Logic: rates going down will be a primary lever they pull once shit hits the fan and it is very high probability that shit hits the fan in near future (6-12mo)

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Nymmo 7mo ago

Btw this was spot on - I picked variable and now down to 4.5% after 2 years vs the fixed I would have been stuck at 5.86% 🫡

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Cari₿ou Farm 7mo ago

👊🏽