Mastering Fixed Rate vs. Variable Rate Mortgages: The Ultimate Guide in 2024!
Variable-rate & Adjustable-rate mortgages VRM’s (Variable Rate Mortgage) & ARM’s (Adjustable Rate Mortgages) are based on the prime rate in Canada. This means that the amount of interest you pay on your mortgage could go up or down, depending on the Prime. When considering a variable-rate mortgage, some individuals will set standard payments (based on…