Ask me anything. Anything at all. And I promise you an honest, straightforward answer. I’m here to help and I’m happy to do so. Don’t be shy because there’s no such thing as a stupid question. If you haven’t been selling real estate every day for the past 20+ years like I have, no one expects you to have all the answers. But you SHOULD know as much as possible because there’s a lot of money involved, your money, and because we’re talking about your home, the place where you spend most of your time. This recurring blog post is dedicated to answering any questions you may have, big or small, easy or hard, no matter who you are. So go ahead. Ask me anything. Here is my answer:

Should We Choose a Variable Rate, Short Term or Long Term Mortgage?

There’s no right or wrong answer to this question because everyone’s financial situation is different, everyone has a different level of risk tolerance and no one has a crystal ball. But rates are SO low right now that the chances of them increasing are much greater than the chances of them going lower. In fact, most experts predict that rates will soon start to rise. So if you can afford your current mortgage payments and don’t want to run the risk of them increasing over the next several years to a point where they become uncomfortable, or even worse, unaffordable, lock in to a long term mortgage, maybe even a 10  year mortgage. You’ll sleep much better and enjoy your home even more.