Five years ago we signed up for the Bank of Montreal's 6 year "variable, below prime" rate offer. The first three years are locked in, the last three are open. We've stayed with it since rates have only dropped. We got 0.85 below prime. The banks' prime, not the Feds'. They don't offer this product anymore
Today, the Bof M prime is 2.5%, so we're at 1.65%. We have another year on this mortgage. I don't think I'll ever see this kind of rate again, but I'm enjoying it while it lasts
