Hello,
With the possible great financial crisis that might occur following all the measures taken to fight the Coronavirus, do you think that it would be wise to switch to a 10y fixed rate?
I know that 3.3% (with Boi for example) sounds expensive but if the rates increase dramatically to 5 or 6% for example or even more, you would be be very happy with your 3.3% for 10 years ...
My mortgage balance is 175K (LTV > 60%) and actual rate is 3.45% (fixed rate due to end in 1 year) and mortgage due to end in 21 years.
What are your thoughts on this?
Thank you
With the possible great financial crisis that might occur following all the measures taken to fight the Coronavirus, do you think that it would be wise to switch to a 10y fixed rate?
I know that 3.3% (with Boi for example) sounds expensive but if the rates increase dramatically to 5 or 6% for example or even more, you would be be very happy with your 3.3% for 10 years ...
My mortgage balance is 175K (LTV > 60%) and actual rate is 3.45% (fixed rate due to end in 1 year) and mortgage due to end in 21 years.
What are your thoughts on this?
Thank you