Do I pick a variable or a fixed rate mortgage?

On average, the typical increase in payment, (given rates id rise), is about $12 - $13 for every $100 borrowed

So, if your mortgage is in the $400,000 range, you should only see your payment fluctuate by about $48.

Also remember, that variable mortgages offer more flexibility, cheaper penalties, & allow you to switch to a fixed product should you decide