tag:blogger.com,1999:blog-37378399.post4780771713163277269..comments2008-07-22T00:23:51.316-04:00Ottawa Guyhttp://www.blogger.com/profile/12558527698737914440noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-37378399.post-66009897564885490542008-07-22T00:23:00.000-04:002008-07-22T00:23:00.000-04:00Variable rates have been quite low this year and for the last 5 years or so. We're sitting at 4.75% prime right now and with discounts you can get a 4% rate with some lenders . As well, most variable rate mortgages are convertible to a fixed term with fully discounted rates. On the flipside, there are people who still like the certainty of a fixed rate mortgage , those rates are still quite low right now as well at around 5.5%. Either way you cant really go wrong right now as rates are historically low.Darinwww.torontomortgagesite.comnoreply@blogger.comtag:blogger.com,1999:blog-37378399.post-10844112125612869732008-06-17T11:07:00.000-04:002008-06-17T11:07:00.000-04:00You could go variable, but adjust the amortization period so that your payments are the same as they would have been if you locked in for 5 years. This way you pay down more principal and you'll be in a better position if interest rates rise.Michael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.com