Submitted by Daniel on Wed, 2006-09-20 01:12.

Garth's Summer Report to Halton Residents (in Acrobat PDF format).


Interest rates have been rising, so should you lock in to a fixed-rate long term home loan?

My advice is to stay short, and stay with a below prime or variable-rate mortgage. You will have lower monthly payments, get rid of your debt faster, and still retain the flexibility to convert your mortgage in the unlikely event rates really jump. Remember that historically, borrowers have always been money ahead by not paying the extra interest required to lock into long-term loans.

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