So here we are extolling the virtues of variable and 3-year fixed rates, and along comes this 'bombshell' from the Globe and Mail:
Why two-year fixed-rate mortgages are now the best option for homebuyers
The author, a respectable long-time personal finance writer, states:
"The best time to have taken out a three-year mortgage was a year ago. Today, shorter is better, and flexibility is the name of the game. Two-year fixed-rate mortgages are the new ideal option for borrowers looking to take full advantage of incoming lower rates."
Oh snap!
Have we been championing variables and 3-year fixed rates for months in error?
Sweet Mother Mary, no.
Turns out, this story has some alternative facts. Luckily, math and history keep things real.
You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
