Should you do a variable for fixed mortgage?

Cripps Realty
Oct 13, 2023

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.

Sign up to discover human stories that deepen your understanding of the world.

Free

Distraction-free reading. No ads.

Organize your knowledge with lists and highlights.

Tell your story. Find your audience.

Membership

Read member-only stories

Support writers you read most

Earn money for your writing

Listen to audio narrations

Read offline with the Medium app

--

--

Cripps Realty
Cripps Realty

Written by Cripps Realty

Voted #1 Top Choice Real Estate Agency of 2023, 2022, 2021 & 2020 in Barrie

No responses yet

Write a response