Interest rates for borrowing money is at an all time low so why not take advantage of the situation. The attached articles approach to borrowing may be a little aggressive however the writer is more or less making a point that money is cheap. For starters, in the past over 80% of the time it has been proven variable rates are the better choice than fixed rates. With fixed rates being at all time lows, this may be part of the 20% where variable rates are not the better option versus fixed rates. With 5 year rates at or near 3.50%, locking in for 5 years at these low rates may be a great option. Consolidating high interest rate debt into your home mortgage at the low rate is also a great idea to consider in order to increase your monthly cash flow by paying less interest on your current debt. Other potential opportunities include borrowing for business start ups, placement into investments or purchase more real estate.
Information courtesy of Paul Cescon of Creative Mortgage Corp.
Information courtesy of Paul Cescon of Creative Mortgage Corp.
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