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lowside67 · 06-14-2017, 02:21 PM

I work in commercial banking and our rates went up 0.20% in the past 2 days as a result of the significant uptick in expectation of Cdn rates rising. I currently have a closed variable at 2.00% and I would absolutely be converting to a fixed right now if I was not expecting we would be buying a new place soon. The closed variable is only 3 months' interest as a penalty - this is easily a better deal than taking a much higher rate on an open variable as was discussed above.

Mark

06-14-2017, 02:21 PM	#26
lowside67 Old School RS Join Date: May 2004 Location: Port Moody Posts: 4,641 Thanked 4,157 Times in 1,262 Posts Failed 130 Times in 80 Posts	I work in commercial banking and our rates went up 0.20% in the past 2 days as a result of the significant uptick in expectation of Cdn rates rising. I currently have a closed variable at 2.00% and I would absolutely be converting to a fixed right now if I was not expecting we would be buying a new place soon. The closed variable is only 3 months' interest as a penalty - this is easily a better deal than taking a much higher rate on an open variable as was discussed above. Mark __________________ I'm old now - boring street cars and sweet race cars.