Whats people's gut filling about fixing or varaible ATM

[MoreHPformyXR6]

My current home loan is a discount variable rate loan with ING (current interest rate 6.99) with no ongoing fees etc. My budget could still cope if current resevre bank rates increase a full 2 basis points not that i would like it. If I fix my loan for 5 years @ interest rate 7.15 - the fee to fix is $290 (no ongoing fees) just the intial fee & then after the 5 years it reverts back to INGs standard variable rate which is .50% more than the dicount product I signed up for. So after 5 years if I switch back to discount variable products its another fee of $290. (which I think is unfair) I think it should revert to the product you have/signed up for. Its probally worth it for me but do people thing the reserve will continue to lift rate's much over the next two or so years?