Interest rates are headed up. What it means for variable and fixed mortgage rates

taxslave

taxslave

Hall of Fame Member
Nov 25, 2008
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Vancouver Island
Not surprised. Bank shares must pay (large)dividends. Glad I worked hard and invested wisely. Now as long as the government doesn't tax me out of my assets I will survive this.
 
T

Taxslave2

House Member
Aug 13, 2022
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The general idea is to get a fixed rate when rates are going up and variable when rates are dropping. Sometimes it is beneficial to buy out of a high rate. Usually 3 months interest. Just have to do the math and see if it works.
The loan# manager at the bank is probably not the best sou of information on this.
 
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