Should I switch to fixed?

[resjudicata]

@rcflyer23 I like steep drops

 

[dlang10]

@dpierre No matter what you think rates will do, you don’t know. If warren buffet doesn’t bet on interest rates I wouldn’t recommend it either. Go with what makes you more comfortable

 

[inuyasha8629]

@dpierre I just switched to fixed 3 months ago (5.40%) whatever you do we are all fucked living in Canada. Good luck

 

[hassack]

@inuyasha8629 Wow, that's very high. I got mine renewed at 5.02% for 3yrs this month. The rate was after the Jun rate hike, otherwise it could be 4.8%.

 

[pepsah]

@dpierre it's already too late at this point to switch though

 

[samwoods622]

@pepsah I thought the same when fixed was 4.5.

 

[resjudicata]

@pepsah Why?

 

[danialclarcke]

@resjudicata Debt crisis. If they raise rates too high then the economy dies

 

[rob1288]

@pepsah Unless it goes to 10%

 

[allyce]

@dpierre There’s a reason banks are calling people to lock I a fixed (hunt: they aren’t trying to do you a favour)

 

[relling]

@allyce Because they don't want to deal with people with 150 year amortizations and a bunch of foreclosures.

They did not beat inflation yet and rate hikes are going to speed up again.