i know. that's fine, as since the increases will be so minor 'every 2 yrs' going fwd (at least it has been until now). rates will prob go up a bit more than usual over say the next 10 yrs but meh, not gonna split hairs over calculating the difference.

not to mention i plan to try and pay off mine IN the next 10yrs so fuck dem bank s0n!

I'm getting 2yrs fixed in December and getting rid of this burden ASAP.

Let the firesale of homes begin

How come only 2 years? Just curious as to the strategy.

I'll have it paid off in less than two years if I do nothing.

Rates went up again. 2.79% for two years now.

Fixed and variable rates are just going to go up further, my thought was lock in now vs later when it's higher. I can already get the pre-recent-increase price.

If it makes you sleep better at night then lock in.

Just understand you are accepting to pay a premium out of fear that's not based on anything fundamental. For you to be on the losing end of this mortgage rates would have to go up by half a percent within 2 years (at a quarter you are breaking even).

On Wednesday, as he made his first public comments since July, Poloz said the bank’s decision to raise the rate a second time followed a string of unexpectedly strong economic numbers.

The bank's next scheduled rate announcement is scheduled for Oct. 25.

Before the speech, most analysts had been expecting the central bank to raise the benchmark rate a few more times over the coming year.