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Fixed vs Variable

Real Canadian rates, real math, no guesswork

Checking rates...
Rate Options
Fixed Rate
%
Locked for full term
Variable Rate
%
Prime - 0.90%

Current Prime: 4.45%

Mortgage Details
$
BoC Rate Path Scenario

How do you expect the Bank of Canada to move rates? Timing matters.

Soft Landing
4 cuts in Year 1
-1.00%
Recession
6 cuts, 18mo
-1.75%
Sticky Inflation
2 hikes
+0.50%
Rates Hold
No changes
0.00%
Custom
Build your own
?
Build Your Rate Path
Month

BoC announcements are roughly every 6-8 weeks.

Analysis Results
Recommended
Variable Wins
Under Soft Landing scenario
Save $4,320
over 5-year term
Fixed
4.59%
Payment: $2,808/mo
Total Interest $0
Principal Paid $0
Balance at End $0
VS
Variable
3.55%
Starting: $2,498/mo
Total Interest $0
Principal Paid $0
Balance at End $0
Variable Break-Even Point
Prime drops to 4.00%
If prime drops below 4.00%, variable wins. Currently at 4.45%.
What If Prime Changes?

If prime stayed at each level for the full term (your analysis above uses your custom rate path, so numbers may differ):

Interest Paid Year by Year
Fixed
Variable
Monthly Payment Breakdown
Fixed (constant)
Variable (adjusts with rate)
Year Fixed Payment Variable Payment Variable Rate Monthly Diff
Risk Assessment
Rate Risk (Variable)
LowMediumHigh
Medium - Rates could rise
Sleep-at-Night Factor
VariableEitherFixed
Consider client's risk tolerance
Smart Insights
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Estimates for educational purposes only, not financial advice. Actual rates and penalties depend on your lender and full situation.

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