ST Alpha - "Report: It makes more financial sense for Canadians to lock into a longer-term fixed mortgage than one with variable rates -- (link)" (Reading a Post)

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Report: It makes more financial sense for Canadians to lock into a longer-term fixed mortgage than one with variable rates -- (link)

Posted by Beaker (aka anniebecca) Mar 14 '14, 07:38

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http://www.cbc.ca/news/business/fixed-rate-mortgages-trump-variables-report-says-1.2570911 (www.cbc.ca)

Responses:

Variable is more popular in Canada perhaps? Or maybe it's just my circles in the US, but we fear variable -- nm - ty97 Mar 14, 07:49 1
- I wouldn't know the relative popularity, but my immpression is that most people go for fixed here too. -- nm - Reagen Mar 14, 07:54
Since I've started having mortgages, I've heard that "interest rates are about to skyrocket!" - Reagen Mar 14, 07:42 1
- this time they really mean it! -- nm - Beaker Mar 14, 07:44
*pets my 2.3% variable.* - Andie Mar 14, 07:41 13
- [deleted] 10
  - Stupid foreclosures in our neighborhood and a useless appraiser meant we got stuck at 3.875%. - spamlet Mar 14, 07:52
  - Right? My mother's rate in '79 was something like 18%. - Mel Profit Mar 14, 07:51 2
    - my mom told me a story about when they bought the house i grew up in (not their first house), and after 1 year - Andie Mar 14, 07:55
    - same for my folks. crazy to compare -- nm - Beaker Mar 14, 07:54
  - also, i don't know why on earch anyone bought a house in the 80s. -- nm - Andie Mar 14, 07:48 3
    - I think my parents paid 14% (fixed) on the house I grew up in. - ty97 Mar 14, 07:53 2
      - OTOH, what was the actual dollar value of the mortgage? -- nm - Reagen Mar 14, 07:54
      - your IM terrifies me. -- nm - Andie Mar 14, 07:53
  - [deleted]
  - for a 15 year that's great. -- nm - Andie Mar 14, 07:47
- wow! -- nm - Epiphany Mar 14, 07:45 1
  - i have good credit. :) -- nm - Andie Mar 14, 07:46

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