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Strategies & Market Trends : Ride the Tiger with CD
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To: Boolish who wrote (201626)7/28/2011 9:05:28 AM
From: Veteran98   of 313046
 
I think you made the right move. I was fortunate enough to make enough money for my son and daughter in their TFSA's so that they were able to have a nice down payment and get their own places earlier this year. We were faced with the same decision and chose to lock in for 5 years .... I was influenced by what happened when I bought my first home in the mid 80's at 10% which shortly proceeded to skyrocket to 15%.. Nothing like uncertainty to cause stress in your life and locking it in eliminates that stress. It gets stressful enough at times just trying to maintain unclouded judgement when trading and having your mortgage interest rate starting to skyrocket is certainly not something you need to distract you. They may be able to keep rates low for a while but imo it's getting pretty close to being a game of chicken when it comes to betting that they will stay low much longer...
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