I had the pleasure of being interviewed by Vancouver Realtor Mike Stewart on the topic of fixed vs variable. This is a very important discussion for many people these days and certainly a hot topic. My response is relatively simple, there are a few things you need to ask yourself first:

• How do you sleep at night?
• Can you afford a rate increase?

Now let’s break these two questions down. If have troubles sleeping easy not knowing what your payment could be next month i’s not worth the stress, go fixed. Can you afford a payment increase of 3-4%? If you can I would seriously consider “rolling the dice” going variable. Historically a variable rate is the better way to go.

I am always listening for your opinion so please feel free to comment below and check out my other blogs on this site. I am a Vancouver mortgage broker working with everything from first home buyers to investors. At the same time I do my best to education the public on how to be more financially savvy over all. If you would like to learn more about mortgages and over all real estate, please check out http://www.jessijohnson.ca.