The 10 year fixed product does not seem to be a popular one amount mortgagors. Over the years, 10 year fixed term rates have went up and down and sometimes can pay off and sometimes it does not. You have to be careful if you are choosing to go with a 10 year fixed. For example, 10 year fixed 12 month ago was at a very low 3.79%. Compared to today’s 3.39% 5 year, you could say it would pay off to have that rate for 10 years. This would pay off if rates were to significantly increase in the coming years, which is always a possibility. According to economists, this is exactly what is going to be happening with fixed rates. Variable rates will increase as well, but not as much as fixed are predicted to rise.