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What is a fixed rate mortgage?
The key features of a fixed interest rate mortgage are:
- The rate doesn't change for the duration of your term.
- Your payments stay the same.
- You don't benefit from rate decreases in the market before your
term renews, but you are protected from rate increases.
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Related questions
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What’s a mortgage term? Learn more about mortgage terms; the period that your mortgage contract is in effect at the agreed-upon interest rate. -
What term length should I choose for my mortgage? Choose the term length for your mortgage based on your goals and risk tolerance. -
What mortgage rates are offered by National Bank? Discover our current mortgage rates for your home purchase or mortgage renewal. Choose a customized rate for more flexibility. -
What is a variable rate mortgage? A variable rate mortgage can change as the market fluctuates. Your payments can either go up or down depending on the rate. -
What is a fixed rate mortgage? Discover the key features of a fixed rate and see how it can protect you from interest rate increases when the market fluctuates.
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