@ckat For the variable to be worth it, the prime interest rate would have to drop by a whole 0.7% over a 3 year period.
Which is 3 quarter basis point drops.
But of course things could also just go up again if the economy happens to make a resurgence in a year.
3 years honestly isn’t all too long to lock in. You come out ahead of the rates rise, and the rates would need to fall by at least 0.7% over 3 years for it to be worth.
Which is 3 quarter basis point drops.
But of course things could also just go up again if the economy happens to make a resurgence in a year.
3 years honestly isn’t all too long to lock in. You come out ahead of the rates rise, and the rates would need to fall by at least 0.7% over 3 years for it to be worth.