It all depends on your financial situation as some people feel comfortable fixed amount per month where as some are ok with rate flucating and they can adjust the payment accordingly. For last 6 year i have been with open variable which is little more than closed variable but gives you peace of mind of moving away in case needed.

-----------------------------------------------------------------
Manoj Rastogi

The current difference between fixed and variable mortgage is about 1.5%..

Lets say u take a 200000 morgage and interest dont move up much u could have saved 6000$ in 2 years..

Personally with low growth rate i dont see interest rates moving up significantly..

This makes Variable rates better ... but ofcourse there is risk of statements i say may not hold true and u have to factor in that risk..

As far as closed and open..
Closed is better if u know u will hold house for 5 years as u will get lower rate
Open is better if u want flexiblity to change the loan provider or pay off sooner or sell u house.

Quote:

---

Originally posted by Aashu

In your opinion, in today's market one should go for closed variable, open variable or fixed ?

---