I will be retiring in 2 years with very limited funds so the bottom line is to make the best use of my limited funds.
Will be retiring completely debt free as far as Credit Card liabilities......just a $180000.00 mortgage which is coming up for renewal.
I have a choice of 2.75 percent...closed for a 1 year term.......or.......
10 year mortgage...closed...at 3.88 percent
Should I try to take advantage of the lower interest charges with the 2.75 ..or lock in for 10 years so at least I will know my mortgage payment won't rise as the interest rate rises are coming soon.
Any advise would be greatly appreciated