Posted 11/21/2012 21:51 (#2709975 - in reply to #2708930) Subject: Re: Variable? NO WAY!!!
What is the basis of your prediction that rates will go up?
I anticipate steady rates for at least three more years.
Five years ago the prime rate was 7.5%. Can't remember for sure but I think the fixed rate would have been 8% or a little more. I chose the variable rate option which was .75% under. Prime is currently 3.25% so I'm paying 2.5%. Every situation is different. This works for me. Good Luck.
Lock interest for 15 or 30 years ??
