Three or four weeks ago the 5 year fixed term interest rate was at 6.94%, now it is 7.46%! Oh well. Atleast we are not locked into 8.5% like some other friends of ours. The 4 year term is the same, but 3,2 and 1 terms are better - I just don't see any point in fixing for one or two years so 5 years it is! I doubt it's going to go lower.
Now to decide how much to fix.
Originally thinking 150k (leaves a little under $150k variable). The fixed portion only allows $10k extra payments for the term, so having variable isn't negotiable in my books. I like to have a bit of freedom.
Hmmmm. Decisions Decisions!
interest rates :(
August 13th, 2009 at 08:29 am