Originally Posted by
msommers
Those rates are pretty good. I had a meeting with the bank on Friday and his advice was to wait a bit as they're seeing bond yields trending down slightly, so fixed could come down. Right now things are in an inverted situation where 5 year fixed is less than 5 year variable, this is abnormal.
Your risk tolerance will play a big role here but 5.59% isn't crazy. The days of getting into the 2-3% range are probably gone for awhile.
Bank is right. Rates comes down very soon.
https://www.canadianmortgagetrends.c...yields-plunge/
"The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."
-H.P. Lovecraft