Should you choose the piece of mind of a fixed rate or the statistical edge of a variable?
If you ask the experts they’ll likely cite the benefits of variable rates but with important caveats, primarily your appetite for risk.
In this Business News Network interview, Peter Majthenyi of Mortgage Architects leans towards variable but acknowledges the comfort of fixed rates.
CIBC economist Benjamin Tal says, “you’d probably still be better off with variable, but don’t expect huge benefits. Two or three years ago it was thousands of dollars, but now it’s basically peanuts.” Source: Financial Post
In this MSN Finance article, John Caspar offers a complex economic analysis that makes a good case for both fixed and variable rates.
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