The Globe and Mail reports in its Monday edition that it is no surprise that rate shoppers are increasingly interested in variable-rate mortgages. In a Globe special, Penelope Graham writes that with the Bank of Canada's benchmark rate falling to 3.25 per cent today from 5 per cent in June -- and more decreases expected in 2025 -- variable mortgage rates are set to become the cheapest borrowing option by the second half of next year. Economists are split on just how much more the bank's benchmark lending rate will come down. For example, Bank of Montreal analysts are calling for a final rate of 2.5 per cent, while Scotiabank leans more conservative at 3 per cent. However, borrowers can bank on a few more cuts before the BoC is through. Following its most recent rate cut on Dec. 11, the best five-year variable mortgage rate in Canada eased to 4.35 per cent and could dip to the mid-threes by next year, depending on how deep the bank's cuts go.