woah those rates are lower than i can get in canada right now...i got my mortgage in late 2001, renewed it on an annual basis, and it never went over 4% (thanks to president bush)

with rates coming down, wouldn't a variable mortgage be better if a 1 year fixed mortgage is not available?
maladroit Reviewed by maladroit on . interest rates cut to save the economy Fed cuts interest rate by 0.75 points Last Updated: Tuesday, December 16, 2008 CBC News The U.S. Federal Reserve has cut the country's short-term interest rate by three-quarters of a percentage point to a target range of zero to 0.25 per cent. That is the lowest level on record for the United States. In announcing the cut Tuesday, the Fed said U.S. labour and market conditions, consumer spending, business investment and industrial production are all falling. Rating: 5