Mortgage renewal

[ionelv]

We recently early renewed our mortgage (2.99% fixed for 5 years effective late March instead of a PRIME-1.35% VAR effective early May, due to creeping rates).  I am curious how far will the rates change over the next 5 years and whether  the VAR would have been better or worse than the fixed rate over the five year period.

Comments

[ionelv]

By next rate reset (early Dec), we will have saved over $22k total so far (only 2.75 years into our mortgage).