In Canada, you have the option of taking a fixed rate or variable rate mortgage, with the latter offering a more attractive rate (for example 3-year fixed was 3

In Canada, you have the option of taking a fixed rate or variable rate mortgage, with the latter offering a more attractive rate (for example 3-year fixed was 3.14% while 3-year variable was 2.85%). You can roll the dice on increasing interest rates but I locked in on a fixed rate because I knew the rates would be going up 3-4 more times in the next 3 years.