1.Explain the impact and risk associated with the current market and variable rate interest rates for a homebuyer. When might a homebuyer consider a fixed rate over a variable rate and vice versa?

2. If you currently own a home: Do an analysis on your current mortgage. What is your current rate, term, amortization period and payment? Search for other mortgage options. Might it benefit you to switch? Discuss why or why not. Is there a prepayment penalty? The calculation is not necessary but if you are interested, I have materials to help you calculate it.