Fixed vs. Variable Mortgage

Things to consider: Variable rate and fixed rate mortgages both have their advantages and disadvantages. Historically speaking, homeowners tend to pay lower rates with variable mortgages, but these mortgages are also vulnerable to fluctuations because they're tied to the Bank of Canada's prime rate (which is announced eight times per year). Fixed rates, on the other hand, are typically higher than variable rates, but their rate is consistent throughout the term of the mortgage.

Here are a few questions to help you determine which type of mortgage is right for you. To view the list, please Click Here.