Geoff's mortgage is up for renewal and he has come to see you to discuss his options. He is considering a 5-year fixed rate mortgage at 5.24% or a 5-year varliable rate mortgage at 5.0%. Geoff is single, 32 years old and works as a computer programmer. He finds it difficult to make ends meet each month and sometimes he has to rely on his credit card to fund the difference. You anticipate that interest rates are expected to rise in the next year. Which option would you recommend to Geoff? Why?

Geoff's mortgage is up for renewal and he has come to see you to discuss his options. He is considering a 5 -year fixed rate mortgage at 5.24% or a 5 -year varliable rate mortgage at 5.0%. Geoff is single, 32 years old and works as a computer programmer. He finds it difficult to make ends meet each month and sometimes he has to rely on his credit card to fund the difference. You anticipate that interest rates are expected to rise in the next year. Which option would you recommend to Geoff? Why