- Existing variable rates are crazy-low (as good as 1.68%), but lenders are less generous with discounts on renewal. Variable rate renewals are coming in at just over 2%, which is still very good.
- The spread between a variable rate and a 5-year fixed-rate is negligible; it’s now possible to lock in for 5 years at 2.09-2.24%. This usually translates into lower monthly payments and/or more rapid repayment of principal.
- (BTW: on a principal residence, you may do a touch better on rate)
If we’re going to invest in real estate, wouldn't it be great if we could predict the future? Well we can, sort of. Our economy is made up of remarkably predictable patterns that regularly repeat themselves over time. These patterns, called cycles, can give us clues...