Totally agree.  The problem in Canada is there is no such thing as a long term mortgage, the longest you can lock a rate is 7 years but you start paying points above 5 after the lock it goes to full variable or lock in for 5 more years at much higher rate.  I would not be surprised if the government has to step in this time around and force the greedy banks to change the rules.  I'm shocked they have allowed banks to thieve like this for decades.