Fix it stay variable.
I currently have two years left on my three year variable mortgage at 3.79 with TD. The best rate TD will offer me on a two year fixed is 4.59 or I can take a five year fixed at 4.79. Now I realize most people would say just stick with the variable and roll the dice, but in my opinion, I think the bank of Canada is going to do two rate hikes before the year ends and if that’s the case, my rate will be at 4.29 to start 2027. From what I have seen online most people believe that by mid 2027 we will have had four rate hikes which would bring my variable rate up to 4.79. So essentially I could be in mid 2027 with the same rate that I could lock in for right now for five years. Is there anybody that has an opinion on whether they’re locking in for five years at 4.79 is a foolish move. I think as long as Donald Trump is an office with these tariffs we are going to have a very strained economy, even if the Iran war or to end tomorrow, I still think you have to make it out of his presidency before things might turn around as far as interest rates go. I used the fix wise mortgage calculator based on my scenario and it says it would lean to stay variable, but when I change the circumstances, assuming that we have two rate hikes before the end of the year, it is strongly saying I should lock in.