My mortgage comes up for renewal in May this year.

Currently I have my mortgage with Scotiabank. I am in a predicament : My I-130 for my US green card has been approved, which means that I would have my green card, hopefully by September this year.

It might be early / mid 2010 before I finally relocated to the US (I am a Canadian Citizen, by the way). Considering the housing market now, it doesn't seem to be a good idea, to sell my house now.

A couple of questions:

1. Would it be a good idea to go in for a 1 or 2 year closed mortgage at a fixed or variable rate?

2. Would you have any other suggestions that might be useful to me?

Since I am open to the idea of switching from Scotiabank to any other lender, if there are my fellow desis who are mortgage brokers/specialists, I'd love to hear from them.

Thanks in advance, for your inputs, suggestions and opinions. Hope to hear from you soon!