Posted 11/21/2012 08:18 (#2708930 - in reply to #2708136) Subject: Re: Variable? NO WAY!!!
easy - 11/20/2012 19:21
Whats the variable rate? Because thats what I would probably do. We've got years of flat before we go up.
Variable rates for the most part caused "the 80's" and all the pain those times inflicted. Guys were told a few years before that int. wouldn't go up and variable was the way to go--then payments MORE THAN DOUBLED. Do you like sleep? If so, NO WAY DO A VARIABLE-rate loan. Extremely risky--foolish would be a better name for it.
And I agree, the interest rates are about a point to a point and a half high. I bought a farm in March for 15 yrs fixed at 4.125.