Wednesday, October 03, 2012

10 Year rate - Lock in or?

Here is a great look at locking into the 10 year rate. Especially as it's predicted that rates will rise again around 2016.

Peter Kinch's take is that you need to really think about the lending environment we'll be in when you renew now for a 5 year term. In 2017, after the hike, who knows what kind of rates will be offered?

I'm offended now by a 5.49% but I once had 7.15%. Second mortgages are often double these figures.

My bank manager likes to tell me about her 18% mortgage rate so we really really can't complain.

Watch the mortgage minute

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