Merix Financial Lowers Variable Rate to Prime - .25!

Variable rates have slowly been lowering and today Merix Financial (only available through Brokers) has the lowest variable rate currently at prime minus .25% = 2.00%. Since CMHC has forecasted rates to stay steady into mid 2010 and a moderate increase for the rest of that year, I say go variable and hold it for a while. A 3 year is a good option since on renewal rates for variable may be down to prime-.50 or better. Maybe even back to the old prime-.80 before the credit crunch. So, don't lock in at prime for 5 years right now, too much yet to happen and 3 years really isn't that long!