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Mortgage Broker News | 14 Mar 2014, 10:13 AM Agree 0
A long-stalled overnight rate has had brokers embracing the variable-rate mortgage but will a new forecast from a major bank convince them that fixed is superior, once again?
  • Mark Fidgett | 14 Mar 2014, 11:46 AM Agree 0
    Ukraine, Venezuela, Middle East, Africa, Asia… revolution and conflict in all of the energy producing countries...might want to re-think that one. #Justsaying
  • Okanagan Broker | 14 Mar 2014, 12:29 PM Agree 0
    Skip the "debate" and simply do what is in your CLIENT's Best Interest! probably 90% of my clients select FIXED simply for the security & stability it provides, and when you are a 1st time buyer, or have young kids, or we are pushing the limits of GDS/TDS at the time of approval a Fixed rate IS the best way to go...Sure, the Variable likely will offer some savings, but for the "average" consumer STABILITY/SECURITY is what they seem to want...and I cannot disagree...
  • Omer Quenneville | 14 Mar 2014, 04:24 PM Agree 0
    fixed is superior, once again... Ive never known fixed to be superior. And the statement about variable has been the best choice since 1975. Think twice before you lock your clients into a fixed rate with a costly discharge penalty or nontransferable TD collaterial mortgage. You are right, put your clients first and their wallet and go variable. I challenge anyone here to show me one person that lost on variable. I can give you lists of people that got burned on fixed.
  • Faye Drope | 14 Mar 2014, 06:22 PM Agree 0
    I don't see the rates rising either. Of course do what is right for your clients that is a given, however if were just debating fixed vs variable I think Variable is the answer. Mark your analogy is correct however Quebec and their little moaning party could spark movement in the bond markets. There is where I see any threat if there is one.
  • Mike Maguire | 18 Mar 2014, 12:35 PM Agree 0
    What about the IRD penalties. Fixed are certainly the best option for banks as we are now seeing IRD penalties on 2.99% rates. Big reason to take a variable and never end with a huge penalty.
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