Fixed vs. Variable Rate Mortgages: Which One’s Right for You?

Choosing between a fixed or variable mortgage rate is one of the biggest decisions you’ll make when financing your home, and it really comes down to your comfort level and goals.

With a fixed-rate mortgage, your interest rate stays the same for the entire term. That means your payments never change, simple, predictable, and great for budgeting. If you like stability and want to “set it and forget it,” a fixed rate can offer peace of mind, especially in times when rates are fluctuating.

A variable-rate mortgage, on the other hand, moves with the market. When interest rates go down, your payments or interest portion can decrease, but when rates rise, they can go up. Variable rates can save you money over time if the market trends lower, but they do come with a bit more risk.

As a mortgage professional, my job is to help you understand which option fits you best — not just today, but long-term. We’ll look at your comfort level, financial goals, and what’s happening in the current rate environment so you can make a confident, informed decision.