Variable-Rate Mortgage

What is a variable-rate mortgage?

Variable-Rate Mortgage Definition: A variable-rate mortgage refers to a mortgage term that changes based on market conditions. As your mortgage payments remain the same, the interest rate may vary, impacting the payment amount.

One of the main reasons borrowers choose a variable rate mortgage is its flexibility and potential to pay more towards the principal, significantly lowering the interest rate over time. However, an increase can lower the principal amount in each payment.

Jul 30 - Comparewise Mortgage Banner

Other mortgage terms:

Mortgage Help Centre:

BlogBrandsCards
Should You Hire a Mortgage Broker?
How to Get the Best Mortgage Rates in Canada
Top Mortgage Providers In Canada
Types Of Mortgages In Canada
National Bank
Source Capital
Growth Street Capital
Wealthsimple
Questrade
Newton.co
MyMarble
LendingMate
Refresh Financial Secured Credit Card
National Bank ECHO Cashback Mastercard
National Bank mycredit Mastercard
National Bank World Elite Mastercard

comparewise

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!