Quote:
Originally Posted by Gerbs
Same it'll be back at mid 3%'s. We made news when it hit 3% the first time in 2014ish - 2015? Or also stabilize at low 4's that's also okay with me. No more $2,600 mortgage in 2024, just $2,300 now  |
I can get out of my fixed mortgage in 26 months and if I can get back down to a 3% rate that'd be great - it'd knock nearly $2k off my payments (from $9k), that's basically the payments for a BGTS 4.0.
My guess is that there's one more increase this Spring and then the BOC holds it till end of year and then we start seeing rates come back down bit by bit next Spring 2024. Not sure a 3% rate will be on the menu by Spring 2025 if that's the case but I'll take whatever is on offer by then.
As for taking a 5 year fixed - I'd take a 3 year at this point and see where it goes but I think 3 year fixed is a bit higher than 5 years. Do the math on what you'd save if the 4th and 5th year are at 3% to see if it works out.
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
Last edited by supafamous; 02-06-2023 at 01:20 PM.
|