That makes sense...until it doesn't. Our relatives who got an adjustable rate mortgage, on the assumption that rates only ever go down, really paid a hefty price.

Undisciplined

We have fixed rates in Canada but you can only get a 5 year term and then you have to renew at whatever the prevailing rate is. It is still based on a 25 or 30 year mortgage period. I do think 10 year terms are available but they are rare.

Fixed is more common now since rates began to rise but from the 90s to 2020, other than a couple blips along the way, rates pretty much only went down so it made sense to get variable because you would get a better rate.

econ

Is the Treasury Market ok?

grayruby

We have fixed rates in Canada but you can only get a 5 year term and then you have to renew at whatever the prevailing rate is. It is still based on a 25 or 30 year mortgage period. I do think 10 year terms are available but they are rare. 

Fixed is more common now since rates began to rise but from the 90s to 2020, other than a couple blips along the way, rates pretty much only went down so it made sense to get variable because you would get a better rate. 