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If you were to take a mortgage loan in 2020 you would want a variable rate...

If you were to take a mortgage loan in 2020 you would want a variable rate mortgage.

True or false

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Answer #1

No, I will be wanting the fixed rate mortgage for a longer period of time at a lower rate because currently the mortgage loans are available at a lower rate of interest and I will be taking advantage of the lower rate of interest by taking the long-term mortgage and paying the long-term low rate of interest.

I will not be taking the variable Mortgage loan because it will just wait with the time period and increase my overall payment.

The given statement is FALSE.

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