Agreed that it’s almost always better to go variable than fixed. The lender is setting both rates, and they’re going to pad the fixed rate using their knowledge and experience to ensure they usually come out ahead. That said, we’ve always gone with a fixed rate because it feels better knowing exactly how we’re going to be sitting at the end of the term and changes in the rates don’t affect us until renewal time.
Agreed that it’s almost always better to go variable than fixed. The lender is setting both rates, and they’re going to pad the fixed rate using their knowledge and experience to ensure they usually come out ahead. That said, we’ve always gone with a fixed rate because it feels better knowing exactly how we’re going to be sitting at the end of the term and changes in the rates don’t affect us until renewal time.