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WHAT WILL BE MY 15 YR FIXED RATE MORTGAGE IF IT WAS 116 000 AT 5 5

 
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Hi! What will be my 15 yr fixed rate mortgage if it was 116 000 at 5 5? Jerome
0     In Mortgage Cont.15

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    Q. What are they predicting the 5 year fixed rate mortgage rate will be in 2012 in canada?


    It may go as high as 5.5%.

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    Q. Is it better to take a variable or fixed rate mortgage in ontario now?


    When you say better, what do you mean ? In terms of monthly payments it is lower. It also depends on what you plan to do in the future - sell the house after 3 years, keep the house, pre-pay as fast as you can, etc. The 2 types of mortgages have their own positives and negatives.

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