The Globe and Mail reports in its Saturday edition that it is hard to overstate how much is riding on inflation getting back to the Bank of Canada's 2-per-cent target. Guest columnist Robert McLister writes that if it does, as financial markets expect, in 2024, debt jugglers and Canada's real estate market might just avoid an economic face-plant. That is the likely scenario according to the forward rate market, which projects future interest rates based on the hedging and speculation of bond traders. However, if inflation throws a curve ball and lingers near 3 to 4 per cent, we are in for a rough ride. Amid the uncertainty, hedging interest rate exposure makes sense, and one way to do that is with a hybrid mortgage. Hybrids let you split your mortgage into two or more rate types. A fixed-payment variable rate mortgage is a smarter play for risk-tolerant borrowers who want to play the odds but still want some payment protection. For hybrid borrowers who want their payments to move down with prime rate, but who can handle potential payment increases, an adjustable-rate mortgage is best. Most hybrid lenders offer fixed-payment variable rates. Scotiabank and National Bank are two that let your payment float with prime.