Katie Wesney

In the kind of 4.75% to 5.5% range,

And that's up from the 4% to 5% range we were seeing just a few months ago.

And the longer rates obviously give you certainty, but you're paying a bit of a premium for that today.

And I think neither is wrong.

It depends entirely on how much rate movement your budget can actually absorb and what else you might be doing in terms of selling your home, etc.,

And I think the second decision you're thinking about is, am I going to split my mortgage or just have it in a single chunk?

And I think a lot of people right now are splitting their mortgages across terms, maybe like a chunk for one year, two year, three year.

It's not the mathematically perfect answer, but sometimes it's the psychologically sane one.

We're always talking about, Frances, how do I sleep at night?

And you're not betting everything on one outcome because, again, there's lots of uncertainty.

We can't predict the future.

So it's that sleeping at night test.

And the third one I always emphasize, and this is super important that I want people to clock right now, is that buffer piece.

Whatever they fix it, I'd really love if they have capacity to do so, that they have something in reserve within that structure.

So it might be a revolving credit facility, an offset that they can call upon, just in terms of...

I think the greatest risk right now isn't the rate itself.

It's having kind of no wiggle room if anything else moves at the wrong time.

You know, someone loses a job, a car breaks down, Murphy's Law.

So that buffer piece is really important when you're looking at your structure.

And if you're not sure, don't do it alone.