Should we go for floating or fixed rates for a mortgage loan?

You mean now is fixed or floating rates offered or which is better fixed or floating?

Bank loans offer fixed then floating after 3 years. It idea is to have you refinance.

If the short term loan of 10 years or less bank mortgage loans are not bad due to current interest rates. And In event of crisis, there should be interest rate cuts to promote lending.

But for long term loans of >20 years fixed rates like HDB loans are better as it offers stability and no penalty for early repayment or partial repayment.

Have to plan for events of prolonged unemployment as well.