Sometimes even the "experts" can't predict where rates will go. If you're unsure about going fixed or variable, ask your Mortgage Consultant about splitting the mortgage component into two segments, half variable, half fixed!
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Most mortgage lenders use the 28-36 rule to determine what you can afford and how much money they're willing to lend you. The 28-36 rule states that your maximum household expenses shouldn't exceed 28 percent of your gross monthly income.
Discipline is key to initiate your savings towards financial goals over a long period of time. This way you can slowly and gradually increase your savings every year. Once you start prioritizing your spending, you will automatically start saving in a systematic way.