Fixed-Rate Mortgage

What is a fixed-rate mortgage?

Fixed-Rate Mortgage Definition: A fixed-rate mortgage is a loan to buy a home or property with a fixed interest rate for the duration or term of the loan. It’s a popular choice for many consumers as a fixed-rate mortgage because it’s predictable throughout the entire term of the loan, and they know how much they will pay every month.

In most cases, fixed-rate mortgages are amortized loans, and it is a locked-in loan, which means it does not fluctuate, so you’ll always pay the same amount every month, even if the market changes. Many borrowers prefer fixed-rate mortgages when they invest in property.

Jul 30 - Comparewise Mortgage Banner

Other mortgage terms:

Mortgage Help Centre:

How to Get a Shared Equity Mortgage
How to Save for a Mortgage Down Payment
How to Get a Joint Mortgage
How to Use a Mortgage Calculator
Equitable Bank
Credit Verify
Consolidated Credit Canada
Walnut Insurance
National Bank Syncro Mastercard
Capital One Guaranteed Secured Mastercard
CIBC Dividend Visa Infinite Card
PC Financial World Elite Mastercard


Didn’t find the information you were looking for?

Send us your questions and we will get back to you.

Car loan?
Personal Loan?

Top deals await you just a short
application away!