- Interest rate stays the same for the entire term.
- Monthly payments stay consistent—no surprises.
- Great for long-term budgeting and peace of mind. - Ideal if you want stability and predictability.
Variable Rate Mortgage
- Interest rate moves with the market
- Often starts lower than fixed rates
- Payments may increase or decrease over time
- Ideal for flexible budgets and risk-tolerant borrowers - Can often be converted to a fixed rate later