Should you do a variable for fixed mortgage?

Many people, even though they don’t like the variable pay increase, stick with that variable because they feel it’s at or near the top level and they don’t want to continue with it if it does. It is likely that this will decrease in the future. We find that many people also choose variable mortgages because they often have lower penalties than a fixed-rate mortgage (if they end up having to break it) when interest rates rise in recent months, or even a year, or even more.

People choose to pay higher amounts while others contact their lenders to ask if they can extend the amortization period. Depending on your family or needs, different scenarios make sense for some but may not work for others.