Should you go with a short or long-term mortgage?

Historically speaking, over the last 20 yrs it has made sense more than 75% of the time to go variable or short term vs. longer term fixed products.

A longer-term mortgage is worth considering if you have a busy life and don't have time to watch mortgage rates. 4, 5 and 7-year mortgages let you take advantage of today's rates, while enjoying long-term security knowing the rate you sign up for is a sure thing.

If you want to keep your mortgage flexible, you can explore a shorter-term mortgage that usually allows you to take advantage of lower rates and save.