Right now, typical variable rates sell for around 25 basis points less than most fixed rates, give or take. Photo by DEREK RUTTAN/POSTMEDIA NETWORK FILES

Human psychology is funny. It has a way of tricking people into prioritizing today’s gains over tomorrow’s risks.

Take mortgage rates , for instance.

Right now, typical variable rates sell for around 25 basis points less than most fixed rates , give or take.

That modest spread is enough to get many folks excited about variables again.

In fact, at Canada’s largest mortgage originator , Dominion Lending Centres Group — an anecdotal industry proxy — 47 per cent of prime borrowers took a variable rate in November. That’s a significant surge from 25.6 per cent in August.

Many of these folks are floating because they think Canad

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