Fixed Vs. Variable: the Train Is on the Tracks

March 11, 2010

Do you remember when you were a kid and you stood on the train tracks on a hot summer day peering into the distance for the coming train? Then suddenly, in the distance, a single light appeared suspended in mid air and the shape of a massive train hurdling towards you sent your heart racing. It was the ultimate game of chicken. How long could your nerves last before you had to step off those tracks and into safety?
While mortgages are nowhere near as exciting as that childhood thrill, we can draw a parallel to the game of chicken and staying in a variable rate mortgage today. Current economic data indicates that the era of historic low interest rates may come to an end promptly and it is advisable to reassess your mortgage to determine if it is time to lock in.
Currently it is possible to lock your variable rate mortgage into a 5 year fixed at a rate anywhere between 3.89-3.99%. The train is on the tracks… what will you do?
Mortgages are very dynamic and the guidance that we offer is based on the circumstances of each individual. If you would like to review your mortgage to make sure that you are still on track please call us to have a quick chat. 416.461.0204
Chris Molder – Son Of A Broker


Christopher Molder

Mortgage Broker

Christopher is a mortgage broker based in Toronto, Canada. And a son of a broker too. He’s a second generation mortgage broker. Following in his father’s steps he joined the family mortgage business straight out of university.