Currently, the best rates are 3 yr fixed 4.49% & 5 yr variable rate of P-1.15%. With the Bank of Canada starting their rate cutting cycle, I recommend taking the 5-year variable. The market is forecasting 0.75% cuts by the end of 2024 and a total of 1.50% in a year. That would bring the variable rate to 4.05% and possibly lower after a year.
