What’s Best for Canadians? Fixed Rate Mortgages or Adjustable Rate Loans?

With a fixed rate mortgage in Canada, the interest rate on the loan remains constant for the term of the loan. This is different from variable or adjustable rate loans where the interest rate may vary. So what’s best? Fixed rate mortgages or adjustable rate loans? What’s best for you depends on your current financial situation and future goals. Consider this...

If you receive a 30-year fixed mortgage at a 5.55% interest rate and a 5-year term, you are guaranteed this rate will not change for the term of the loan, in this case 5 years. If having a constant payment and remaining unaffected by fluctuations in the mortgage lending rates are important to you, then fixed rate mortgage products are a good choice.

A 20-, 25- or 30-Year Fixed Mortgage Offers Stability and Security

Many first time homebuyers will choose the stability and security of a 20, 25 or 30-year fixed mortgage to help them budget and manage their home ownership costs. Some of the best fixed rate mortgages are available through large mortgage and trust companies and are accessible to you through your MBN Mortgage specialist. They are typically offered at no charge.

So, What is Your Best Fixed Rate Available In Calgary, AB?

We are often asked ‘What is your best rate?’ The answer can be more complex than you might think. Before we simply state our lowest rate, we will always take the time to understand your situation and tailor the product and rate to fit your individual mortgage needs.

A range of factors such as credit, down payment, the mortgage term, the type and location of the property, and amortization can all have an effect on rate. However, for qualified applicants with strong credit and a proper mortgage strategy, you are often eligible for the best fixed rate mortgages available. We are here to ensure that your entire mortgage solution fits—and fixed mortgage rates can play an important role in your home ownership plan.

Are Fixed Refinance Mortgage Rates Available to Me?

Absolutely. Most mortgage companies offer fixed rate loans on a refinance, a home equity loan and on purchases. Visit our rates section to view current 1-year, 3-year, 5-year and 10-year fixed mortgage rates.

Find something lower out there? It does happen sometimes, and when it does, we challenge you to call us and ask for the competitor’s special. You will be surprised what you can learn.