Mike Oxlong is the resident mortgage broker. I'm sure he'll be along before too long to offer an opinion. Usually I'd go short term but this may not be the time to do that. If you google Moshe Milevsky of York University he does studies comparing going short vs. going long and he's found that going short wins over 80% of the time, but he's now saying that this might be one of those one-in-five times that long wins. There are very good five-year rates right now. Mike Oxlong will be able to help you.
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