Mortgages -- Fixed or Variable? Term?

[AdamL]

I have a mortgage ready to go for 170k, all I need to do is pick my interest rate method.

Fixed for 10 years is 5.99, 5 years is 5.25.

There is also the option of variable rate.

I'm just getting out of University looking for full time work, so low payments at this time would be helpful... but, I realize interest rates are about as low as they're going to get right now.


What do you guys recommend? Anybody here have any speculations as to where the interest rate is heading? Canada is pursuing a zero inflation policy right now and I expect them to keep that. So I expect rates to rise, but I'm not sure how to judge how much.