I was advised to get a 30 year fixed, which I got on a jumbo at 3.5%. I am fortunate enuf that I could pay it off, but I make much more than the 3.5% leaving it invested. Add to that inflation and over the 30 years you beat the bank.
Millions of people in UK now facing 7% on mortgages which were 2% when they started them only a few years ago. May not sound a lot in percentage terms but means monthly payments doubled or tripled. Not sure what a jumbo is but I know a lot of people would kill for a 30 year fix at 3.5% 😀
I was advised to get a 30 year fixed, which I got on a jumbo at 3.5%. I am fortunate enuf that I could pay it off, but I make much more than the 3.5% leaving it invested. Add to that inflation and over the 30 years you beat the bank.
Millions of people in UK now facing 7% on mortgages which were 2% when they started them only a few years ago. May not sound a lot in percentage terms but means monthly payments doubled or tripled. Not sure what a jumbo is but I know a lot of people would kill for a 30 year fix at 3.5% 😀