As the name suggests, a fixed rate mortgage rate is one that does not change over the length of your mortgage term. Under a fixed rate, you would be paying the same amount in monthly mortgage payments regardless of changes to interest rates, which usually follow the Bank of Canada’s prim...
Fixed vs variable rate mortgage. Learn the difference between each type of mortgage, get to know the pros and cons first before making a final decision.
Deciding what type of mortgage works best for you can be a critical step in the home ownership process. When deciding between a fixed or variable rate mortgage, you'll need to decide which one works for your lifestyle and how comfortable you would be if, in the case of a variable rate ...
So, which type of mortgage should you choose? First, look at the current rates on offer. Occasionally, you can get fixed-rate deals that undercut their variable equivalents, but this situation is rare. In most cases, a variable-rate deal will be less expensive in the short term. But tha...
Mortgages aren’t one-size-fits-all. Here’s what you need to know about fixed vs. variable rate mortgages, so you can pick the one that’s right for you.
How can I tell if I have a fixed- or variable-rate mortgage? Fixed vs. variable interest rates in a nutshell When it comes to fixed and variable interest rates, remember that fixed rates won’t change in most circumstances. But variable rates may increase or decrease depending on the index...
Fixed expenses stay the same every month. They’re predictable and rarely change, making them easy to plan for. Examples of a fixed expense include: Rent or mortgage payment Child care costs Phone bill Internet bill Loan payments Subscriptions ...
See all TD rates 🤓Nerdy Tip When determining which offer is best for you, consider factors beyond the rate, like prepayment privileges and portability. Current mortgage rate update: May 22, 2025 If you're considering applying for a fixed-rate mortgage, you may want to get a move on. ...
Switching your mortgage from a variable to a fixed interest rate can help make your mortgage more affordable if rates are rising.
Fixed expenses remain constant within a budget, while variable expenses may change regularly. Examples of fixed expenses include rent or mortgage payments, while variable expenses can include things like groceries or entertainment. Budgeting for both fixed and variable expenses is important, and the...