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What’s the difference between a fixed and a variable rate?

A fixed rate remains the same for the duration of the mortgage term. This means that your payments will stay the same too.

With a variable mortgage rate, the interest rate and payment amount can go up or down depending on market fluctuations.

When you take out a mortgage loan you can choose between a fixed rate, a variable rate or a combination of the two.

The All-In-OneTM Home Equity line of credit comes with a variable rate.

The made-to-measure mortgage has a variable rate for the line of credit portion, and for the loan portion, you can choose between a fixed rate, a variable rate or a combination of the two.

Check out the current mortgage rates and talk to your mortgage advisor who will help you choose the best option.

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TM ALL-IN-ONE is a trademark of National Bank

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