Fixed or variable?

The Globe and Mail had a feature a while ago about whether you should choose a fixed or variable rate mortgage when you buy or refinance, which included this handy summary of the issues. As noted in the article, if you are less comfortable with risk or are certain that you won’t be moving or refinancing within the term of your mortgage, you are likely better off with a fixed rate; if you think you might move before the end of the term or you are comfortable with fluctuating interest rates, then you are likely better off with a variable rate. Ultimately, you should speak to your mortgage broker and be very informed about your decision before you make it.