best mortgage deals as of Nov 2007 ?
Submitted by aenchevich on Thu, 22/11/2007 - 3:15pm.
Can someone pls tel me what is the best mortgage deal for a 2-4 year term right now (Nov 2007)?
Assuming that the rates will likely drop some more (right? I mean if we want to lower the cost of CAD vs USD? And everyone's been talking about this cause the "yanks" don't want to do business with us anymore due to our high $CAD...), so assuming that the rates would probably go down in the near future - I suppose a variable rate would be the best choice? And then possibly lock it after the rate drops (if it drops of course)? Or lock it if it doesn't drop in the next 2-3 months.
Any thoughts, anyone?
thx
Rates
The talk of the town is that the prime rates will fall another 25 bps this month, that said tahere has been an increase in fixed terms in the last few days of December. My advice is go variable and see what happens, historically it has always performed better, however having said that you have to be able to sleep nights with the thoughts that rates will fluctuate. If you cannot then stay fixed and live your life