I finally had to pick between a 5-year fixed and a 7-year fixed on a strip mall deal.

The 5-year was at 5.8% and the 7-year was at 6.1%, and I went with the shorter term thinking rates might drop for a refi. It's been 18 months and I'm already sweating the rate environment for when my term is up. Anyone else gamble on a shorter term recently and how's it looking for you?

2 comments

2 Comments

the_charlie1d ago

My buddy did that on an apartment building last year, same idea. He's staring down the barrel now and it's not pretty, honestly. Kinda wish he'd just taken the longer lock.

terry_walker1d ago

Charlie's buddy is a case study in why you never cheap out on locks.