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What is a variable rate mortgage? 

Here are the key features of a variable interest rate mortgage:

  • The rate can change as the market fluctuates, over the course of your term.
  • Your payments can change as the rate changes.
  • You benefit from rate decreases in the market during your term, but you are exposed to rate increases.

Good to know:
You can choose a capped variable rate. Your rate will move with the markets but will never exceed a maximum threshold set in your contract.

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