From: "R." 
Newsgroups: misc.consumers.house
Subject: Re: How to decide when to switch from variable to fixed
Date: Fri, 01 Apr 2005 03:15:07 GMT

Hi, Sophie - Rate is variable from the get go, rates are at hisoric low, and 
we are buying for the long term. Have definitely decided on variable rate 
mortgage, but do expect rates to go up somewhat in the next 2-4 years. 
However, they need to go up a fair bit for the new rate to be anywhere near 
where fixed rate mortgages are now. That's what makes it challenging about 
deciding how long to hold on - was just wondering if any others had rules of 
thumb they liked to use.

- R.
"scordelia"  wrote in message 
news:1112281112.998681.225020@o13g2000cwo.googlegroups.com...
> Some questions for you--
>
> How long will your rate be fixed until it adjusts or is your rate
> variable from the get go? (In the US it usually a 3 or 5 year term)
>
> Are rates in Canada at an historic low across the board?
>
> How long do you plan on staying in this property?
>
> Sophie
>