Variable or Fixed that is always the question. This article I came across in the National Post, gives reasons for both options. For most of our clients we suggest the fixed. It takes the guess work out of your payments, and helps you create stability in your monthly budget.
Also just a side note, I tried out the BMO Mortgage Mate, and was quite surprised the rates they offer for a 4 and 5 year fixed are quite a bit higher than what we are able to offer our clients!
If you want more mortgage advice feel free to give us a call! 403.320.1833