Mortgage Decisions
My mortgage is coming up for renewal sooooo what to do. Interest rates are at a all time low with a 1 year @2.5% & a 2 year fixed @ 2.8% or variable rates @ prime(today @2.25%) +.8 Such great deals as compared to the 16% mortgage we held in the 80's. After 1 month of working numbers backwards & forwards I decided that I wanted the flexibility & the lowest rate so I decided to go for the cheapest interest rate offered on the 1 year term. This is always such a difficult decision for me but I have been smart on the decisions I have made in the past & hope that this will also prove to be a wise choice. It is always a bit of a gamble.