[quote=Rich Toscano]Just to get this on record, I think you guys are very overconfident in your ability to predict interest rates.[/quote]
Not to speak for the crowd, but I’m pretty sure we all know we’re taking a semi-educated guess and we could very well be wrong. But as with anything else in life, we gotta lay our money down somewhere so we need to give it a little thought.
Year after year now I’ve been betting on rising rates. Year after year that’s bit me in the arse.
In 1992, we bought our first single family residence (we’d owned condos before). In 1992, my wife’s sister bought their second single family residence. We went fixed rate. They went variable. With every refi, we’ve both selected the same path…us fixed, them variable.
Want me to tell you who won on those bets? Hint: it wasn’t me.
