@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 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%.
@dpierre No. Eventually rates will revert to the mean. Look at bond yields in the last 40 years. Every time there’s a huge spike, it crashes. I have no illusions the same won’t happen again.
@silvastrings And just because the rates will likely be lower than they currently are at some point in the future, doesn't necessarily mean that you can carry the higher costs you might see in the interim.
@dpierre I wouldn't. They can't raise rates much more without full-on killing the economy. It's not a good idea to fix at the top of rates. That's the equivalent of buy high sell low.
The banks prey on over leveredged Canadians. Those who get scared and act irrationally. Those who are not financially educated