“…the percentage spread between discounted 5-year fixed and variable rates has tumbled over 110 basis points in the last few months.  That’s reduced the variable-rate advantage markedly.”*

      ”Highly discounted 5-year fixed rates are now in the 3.89% range, less than 1/2 point from the lowest we can remember. They’ll probably go even lower in the short term.”*

      “…the 5-year fixed isn’t the only term benefiting from the recent plunge in yields. There’s tremendous value in 1- and 3-year terms as well.”*

      To read more click this link http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2010/08/dramatic-sentiment-shift.html