[mykalberta]

The only person I feel sorry for in that whole video is the guy with the beard.

When will people realize that if you are planning on actually living in a place, what does it help to possibly save a few 100 bucks to risk having your interest rate jacked. No one on varaialbe interest rate mortgages deserve any sympathy at all. They all had the chance to lock in longer term, 10 or 15 years at a rate which they could then plan for and they didnt, its their fault. Sure there banks and brokers are greedy but no one held a knife to these people and forced them to sign.

I am very glad I have a 10 year fixed 5.15 mortgage. Even if I lose a few hundered for the possibility of maybe getting a lower rate later on - I know that I can easily afford the monthly payment and it allows my to budget better. I think its possible the same thing could happen in Calgary in a few years when all the 5 year variable mortgages come up.