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My mortgage is coming due. Should I lock in?

Q: My mortgage is coming due. Should I lock in?

A: If you have one property and the discipline to watch it, take the current prime minus .5 per cent or 2.5 per cent. That rate may stay low till fall. If you have an investment property – go long, at least a 3.8 per cent or so -five-year term (in 1983, the rate was 16.5 per cent, in 1993 13.5 per cent.). These are lifetime low interest rates. If you believe that massive inflation is coming – rates will be higher. (This week, six countries increased their rates, including India and China)

About Ozzie Jurock

OZZIE JUROCK (FRI) is the author of Forget About Location, Location, Location. Ozzie Jurock is also president of Jurock Publishing Ltd.

Peter C. Newman in his book Titans called him a Real Estate Guru. Vancouver Magazine called him one of the 45 brightest people in Vancouver. Ozzie Jurock appears every 2nd Wednesday on Global TV News Hour. He also authored the book: Forget About Location, Location, Location and has written hundreds of published real estate articles in the Vancouver Sun, Business in Vancouver, the Globe and Mail, the Western Investor and dozens of magazines. (List of published articles.) Several thousand people have subscribed to his monthly and weekly newsletters Jurock Real Estate Insider and Jurock’s Facts by Email.

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