Heading into this week's rate council huddle at the Bank of Canada, mortgage borrowers wield four pressing questions. Let’s unpack those with some likely answers.

So here we are extolling the virtues of variable and 3-year fixed rates, and along comes this 'bombshell' from the Globe and Mail:

Why two-year fixed-rate mortgages are now the best option for homebuyers

The author, a respectable long-time personal finance writer, states:

"The best time to have taken out a three-year mortgage was a year ago. Today, shorter is better, and flexibility is the name of the game. Two-year fixed-rate mortgages are the new ideal option for borrowers looking to take full advantage of incoming lower rates."

Oh snap!

Have we been championing variables and 3-year fixed rates for months in error?

Sweet Mother Mary, no.

Turns out, this story has some alternative facts. Luckily, math and history keep things real.

What would a lifelong interest rate trader pick for his mortgage? We wanted to find out, so MLN spoke with Kevin Abarbanel last week.

Abarbanel is a former head futures trader for BMO Nesbitt Burns. He's been trading short-term interest rate futures full-time for over three decades, longer than virtually anyone else in Canada.

Abarbanel's own trades were responsible for over 10% of BAX futures trading volume for over a decade. If there's anyone who knows what drives Canadian interest rate markets, it's him.