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Does 10 yr fixed rates make sense now?…

percentageFixed rates are still low…  and a question I seem to get asked more often these days is, “when does it make sense to take a 10 year fixed rate?”  And the answer, for me, is almost never.

Today, you can find a good 10 yr fixed rate under 3.70%.   That’s a historical low rate for a 10 yr term.   When you hear ‘record low’, it’s worth taking a look.


  • peace of mind… there is something to be said for knowing what your payments will be for the next 10 years.   It’s like buying insurance.
  • we are at historical low 10 year rates.
  • if you paid your mortgage out after the 5 year mark, your penalty is capped at 3 months interest (a hidden provision in our mortgage laws…. I’m sure the Bankers are trying to get this removed too). Continue reading “Does 10 yr fixed rates make sense now?…”
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