Fixed vs. Variable Mortgages: What Should You Choose? #shorts

Should you get a fixed or variable mortgage? One way to decide is to look at your budget. If you are running a tight budget, a fixed mortgage might be the way to go. Your payments will be consistent so you can easily work it into your budget. Now if you run a looser budget, a variable mortgage could work well. You can get a low rate today, and even if rates rise in the future, you'll still be able to budget for the payments accordingly.

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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

#retirement

[micheldevost]

Pro tip: get a CLOSED variable rate. The amount you pay won’t change even if rates go up (but the principal vs interest ratio will change to adjust). Helps me sleep better knowing my payments won’t change, but the duration may be a little longer. Cheers!

[dougdoty]

Normal I would agree
But I believe at this time we are expecting a rate increase.,