...that is the question really with the loonie getting stronger and all indications that an interest rate hike's looming large:
http://torontosun.com/News/Canada/2007/05/30/4219075-sun.html
http://finance.sympatico.msn.ca/savingsdebt/johncaspar/article.aspx?cp-documentid=4943374
Interesting conundrum...I think.
Not at all. Historically, variable whups fixed. But what the future holds, who knows?
Then one can go with the split mortgage, some fixed and some floating (this has been touched upon in past threads) to spread your risks- also cool. Of late I have been arranging a lot of these splits.
Amazing that none of these articles have touched upon this. Typical non-informed journalism.Discount in my opinion.
If you can live with floating rates go for it. If you wish to know a budget go for fixed. If you are in a quandary go for the mara-mari.
Good thoughts Raj and Investpro. I have to agree that over all Variable does whoop Fixed unless someone has a GREAT fixed rate (or have been spoilt by a previous good fixed rate mortgage ) ). While there's a hike in the horizon, I think this will be temporary. The USD will eventually rise, and the loonie will stablize. However, until then, we are stuck with higher rates; we too have a variable mortgage and the stron loonie with inflation is gonna whoop us soon
-B
Predictions by CIBC and RBC
http://www.allheadlinenews.com/articles/7007520729
http://www.thestar.com/Business/article/220707
slightly off topic...
Will the rising loonie have any impact on other expenses like car, gas, clothes and groceries?
Quote:
Originally posted by investpro
Not at all. Historically, variable whups fixed. But what the future holds, who knows?
Then one can go with the split mortgage, some fixed and some floating (this has been touched upon in past threads) to spread your risks- also cool. Of late I have been arranging a lot of these splits.
Quote:
Originally posted by investpro
Amazing that none of these articles have touched upon this. Typical non-informed journalism.
Quote:
Originally posted by heaven
Predictions by CIBC and RBC
http://www.allheadlinenews.com/articles/7007520729
http://www.thestar.com/Business/article/220707
slightly off topic...
Will the rising loonie have any impact on other expenses like car, gas, clothes and groceries?
Advertise Contact Us Privacy Policy and Terms of Usage FAQ Canadian Desi © 2001 Marg eSolutions Site designed, developed and maintained by Marg eSolutions Inc. |