Fixed-rate mortgages lock you into payments for years, which hurts if you plan to sell or refinance within months. The right rate depends on what you actually plan to do with the property.
There's some times to fix interest rates, but then there's times not to. Because if you fix interest rate on it for 3 years, for example, but your outcome was to actually sell that property in 12 months' time, or you want to get the equity out, or you want to refinance, you want to go and do this, then you've just signed an agreement which removes your flexibility, which is what you needed. So when you're looking at every individual deal, you have to understand what's my purpose behind this property. So I always want to have flexibility. I always want to have liquidity, right? It's one of the key things.
