Monday, April 25, 2011
Fixed Vs. Variable Rates: Pay Yourself Instead of The Bank - AOL's WalletPop Canada
The number one question I get from home owners is the never ending, "fixed vs. variable" rate debate. And although it depends on a number of factors (your personal preference along with the accuracy of your crystal ball to predict where interest rates are headed), real estate expert Don Campbell, and president of the Real Estate Investment Network has a unique twist on the old argument.
Campbell touts opting for a variable rate mortgage, but being disciplined enough to make the payment that a five year fixed would offer thus paying more on your principle and paying off your mortgage sooner and less interest over time.
Read the full article here: http://www.walletpop.ca/blog/2011/04/25/pay-yourself-instead-of-the-bank/