Fixed vs. variable mortgage rates

Today, I agree with Larry MacDonald. Today, he recommends variable-rate mortgages over fixed-rate. The reason I agree? It actually has to do with something Michael James once said: that if you're going to pay a bank to take all the risks for you, they're going to charge you for it. In this case, a fixed-rate mortgage is the bank's way of taking all the risk on your behalf, and like every other service a bank provides, it stands to reason that they will charge you more than it's worth.