I'd like to personally thank my mortgage broker for talking me into a variable rate mortgage. My cautious and risk averse nature made me a natural for the fixed rate mortgage. If I'd listened to my fears, I'd be paying nearly 6% now.
Instead, my current interest rate is 3.1%. That's right. 3.1%!
I'm thinking of canceling the depressing, world-is-going-to-hell-in-a-handcart, nay-saying newspaper and pumping the extra money into my mortgage.
yay for variable rate mortgages and taking little risks! Yes, they say that the slow and steady predictable fixed-rate tortoise usually wins over the unpredictable hare - but they never said anything about the bi-polar hare who takes naps every now and then then jumps ahead when the tortoise thinks it is getting close.
ReplyDeleteThat made very little sense.
Sorry.
Yay for variable rates!