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A comment on Bank of Canada increases overnight rate target to 1 per cent. Parent comment

Re:Bank of Canada increases overnight rate target to 1 per cent by rconti on Wednesday September 06, 2017 @01:08PM (#15185269)
Mortgages are typically longer than 5 years.
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Re:Bank of Canada increases overnight rate target to 1 per cent by tostitos1979 on Wednesday September 06, 2017 @01:14PM (#15185321)
Exactly. In a US 30 year mortgage, it is reasonable to expect a borrower to pay it off. In a 5 year mortgage, you will typically refinance after 5 years (unless you hit the jackpot in the interim).
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Re:Bank of Canada increases overnight rate target to 1 per cent by sliverstorm on Wednesday September 06, 2017 @07:18PM (#15187919)
That sounds obnoxious, being forced to refinance 5 times. Why not a 30 year 5/5 ARM? (Rate adjusts every 5 years to market rate)
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