Obviously variable interest rates are lower over time - fixed term mortgages have a premium over variable and in stably changing conditions thats baked into the

Obviously variable interest rates are lower over time - fixed term mortgages have a premium over variable and in stably changing conditions thats baked into the rate. The danger of variable rates is not that you might end up paying an extra 50 grand by the end of the mortgage. That's almost impossible. The danger is that you won't get to reach the end of the mortgage because at some point an interest rate spike makes you insolvent. A short, but sharp spike, that wipes out your savings.