Fixed VS Variable ?

Both fixed and variable mortgages have their own advantages and disadvantages.

Advantages of a Variable Rate Mortgage:

  • When rates go down you benefit from that immediately and will see your payment drop – this means more towards the principal and less interest so your mortgage is paid off faster!
  • Historically variable mortgages have been significantly lower in rate than fixed mortgages
  • Variable rates off you the freedom to convert at any time to a fixed rate mortgages especially when you see rates rising at no cost – your Jencor Mortgage advisor will keep you informed

Advantages of a Fixed Term Mortgage:

  • The fixed rate offers the security of locking in your rate
  • You may prefer peace of mind – the same mortgage payment every month with a guarantee not to change for the term
  • You will know exactly how much principle and interest you are paying with each payment
Dale Green

Dale Green

REALTOR®
CENTURY 21 PowerRealty.ca
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