Loading…
5
Fixed rate mortgage was my only option until I ran the numbers on variable
For 8 years in Toronto I swore by fixed rate mortgages, thought variable was gambling. Then last March I sat down and did the math with a $650k renewal and realized I'd paid about $14k extra in interest over two terms just for peace of mind. What finally tipped me off was a coworker in Calgary showing me his variable rate savings during the last rate drop. Has anyone else stuck with one product out of habit and later found the other choice made more sense for their actual situation?
0 comments
Log in to join the discussion
Log In0 Comments
No comments yet
Be the first to share your thoughts on this discussion.