cf6d1145_kers_by_TMG_The_Mortgage_Group__Variable_Rate_Mortgage
[0] What are the risks? [Fixed Rate Mortgage] Fixed rates are set higher than variable rates because they compensate for prospective rate spikes. In addition, if rates drop, you can't take advantage of the savings without refinancing. [Variable Rate Mortgage] 
You're not insulated from spikes in mortgage rates. If rates shoot up, you could be paying more interest.
Variable Rate vs. Fixed Rate - Super Brokers by TMG The Mortgage Group
Variable Rate Mortgage