Fixed vs Variable Rate Calculator

Compare total interest costs across scenarios. See how rate paths affect your mortgage.

Fixed Monthly Payment

$2,120/mo

at 4.04%

Variable Monthly Payment

$1,960/mo

at 3.30% (initial)

5-Year Savings

$5,137

Variable saves

Breakeven Variable Rate

4.86%

Avg rate to match fixed

Mortgage Details

Purchase Price$500,000

Down Payment (%)

Down: $100,000 (20%) · Loan: $400,000

Amortization

Fixed Term

% Interest Rates

Fixed Rate4.04%

Variable Rate3.30%

Scenario Controls

Fixed stays constant for the selected term. Variable moves with the benchmark. Use the sliders to stress-test rate paths.

Rate Direction

Rate Stress (bps over {i.term} years)100 bps

Rate Change Speed

First 5 Years

Most Canadians renew within ~5 years.

FixedVariable (Base)Variable (Best)Variable (Worst)

Interest$75,876$70,738$52,501$79,961

Principal$51,336$52,857$59,317$49,864

Balance$348,664$347,143$340,683$350,136

Base saves: $5,137 (variable cheaper)

First 10 Years

Captures one renewal cycle.

FixedVariable (Base)Variable (Best)Variable (Worst)

Interest$140,281$129,906$129,906$129,906

Principal$114,142$116,618$116,618$116,618

Balance$285,858$283,382$283,382$283,382

Base saves: $10,375 (variable cheaper)

Full 25 Years

Full amortization cost.

FixedVariable (Base)Variable (Best)Variable (Worst)

Interest$236,058$210,360$210,360$210,360

Principal$400,000$391,257$391,257$391,257

Balance$0$8,743$8,743$8,743

Base saves: $25,698 (variable cheaper)

Keep going

Your next 3 moves

Best Mortgage Rates

Compare current Canadian lender rates.

Open

True Cost of Owning

Full monthly carrying cost breakdown.

Open

Affordability Calculator

Re-check your budget with today's rates.

Open

Fixed vs Variable Rate Calculator

Compare total interest costs across scenarios. See how rate paths affect your mortgage.

Fixed Monthly Payment

$2,120/mo

at 4.04%

Variable Monthly Payment

$1,960/mo

at 3.30% (initial)

5-Year Savings

$5,137

Variable saves

Breakeven Variable Rate

4.86%

Avg rate to match fixed

Mortgage Details

Purchase Price$500,000

Down Payment (%)

Down: $100,000 (20%) · Loan: $400,000

Amortization

Fixed Term

% Interest Rates

Fixed Rate4.04%

Variable Rate3.30%

Scenario Controls

Fixed stays constant for the selected term. Variable moves with the benchmark. Use the sliders to stress-test rate paths.

Rate Direction

Rate Stress (bps over {i.term} years)100 bps

Rate Change Speed

First 5 Years

Most Canadians renew within ~5 years.

FixedVariable (Base)Variable (Best)Variable (Worst)

Interest$75,876$70,738$52,501$79,961

Principal$51,336$52,857$59,317$49,864

Balance$348,664$347,143$340,683$350,136

Base saves: $5,137 (variable cheaper)

First 10 Years

Captures one renewal cycle.

FixedVariable (Base)Variable (Best)Variable (Worst)

Interest$140,281$129,906$129,906$129,906

Principal$114,142$116,618$116,618$116,618

Balance$285,858$283,382$283,382$283,382

Base saves: $10,375 (variable cheaper)

Full 25 Years

Full amortization cost.

FixedVariable (Base)Variable (Best)Variable (Worst)

Interest$236,058$210,360$210,360$210,360

Principal$400,000$391,257$391,257$391,257

Balance$0$8,743$8,743$8,743

Base saves: $25,698 (variable cheaper)

Keep going

Your next 3 moves

Best Mortgage Rates

Compare current Canadian lender rates.

Open

True Cost of Owning

Full monthly carrying cost breakdown.

Open

Affordability Calculator

Re-check your budget with today's rates.

Open