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What the wlb for women in Citi pune??
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For my pcos ladies on metformin, interesting news article. Be careful out there. The good news I hear is that metformin leaves the body pretty quickly so in 2 days you won't have it in you anymore. https://www.google.com/amp/s/www.forbes.com/sites/victoriaforster/2020/04/05/researchers-warn-that-covid-19-treatment-t
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Fixed always variable never
With a fixed rate, the risk of changes in the interest rate is on the bank. With a variable rate, that risk stays with you. The fixed rates are higher because the bank wants a premium for taking on that risk.
The question is are you risk adverse or not. The current situation with interest rates should not influence your decision. No one here could tell you for sure if the rates will go up or down in the future.
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With a variable rate you have to refinance within the next 5 years. If rates drop great, if rates don’t drop you’re screwed.
With a fixed rate, if rates drop you can refinance. If rates don’t drop, you’re fine.
In my opinion with variable rates you are risking a lot for minimal return. I personally stay away from them but you are free to do as you wish.
Fixed. It’s a known quantity
Remember in 2008 when a huge part of the foreclosure crisis was variable rates finally matured
Recommend you use Excel and model out life of loan, then look at 5 year intervals.
Use actual quoted rates and you should get the cap rates, one is max rate change after fixed period, one is max rate change any other period, and one is max rate. So you might have a 7% variable, fixed for seven years, then can change a max of 2% every six months and completely max out at 12%.
Model out your payments year by year. You can look at worst case scenarios to see your max downside. In worst case scenario you’ll eat through any savings from lower payments about 1-2 years after fixed period ends.
I chose fixed, there was like 0.5% difference, so not worth it.
Fixed
That’s a tough question. How much is the difference? My theory is if the difference is exciting, variable can’t do much damage as the rates are very unlikely to increase significantly in the coming years. Even if you do fixed, look for best rates for shorter time periods and then refinance as soon as you get the chance
Thank you all for your inputs. I am looking at a 5 year term loan and wondering how much better a fixed rate would change in 5 years vs a variable rate that could increase further going into next year.
No one has that answer
25% fixed, 75% variable for me. I am not risk averse. Worked well for me. I am constantly putting all bonuses against the variable part of the mortgage but keeping the monthly payments the same. The result is that the property value grows while my debt decreases.
Depends on your life situation as well. I am on $250k+ and single.