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Fixed vs Variable Rate Calculator

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

Fixed Monthly Payment
$2.1K/mo
at 4.04%
Variable Monthly Payment
$2K/mo
at 3.30% (initial)
5-Year Savings
$5.1K
Variable saves
Breakeven Variable Rate
4.86%
Avg rate to match fixed

Mortgage Details

Purchase Price
Down Payment (%)
%
Down: $100K (20%) · Loan: $400K
Amortization
Fixed Term

% Interest Rates

Fixed Rate
%
Variable Rate
%

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)
bps
Rate Change Speed

First 5 Years

Most Canadians renew within ~5 years.

FixedVariable (Base)Variable (Best)Variable (Worst)
Interest$75.9K$70.7K$52.5K$80K
Principal$51.3K$52.9K$59.3K$49.9K
Balance$348.7K$347.1K$340.7K$350.1K
Base saves: $5.1K (variable cheaper)

First 10 Years

Captures one renewal cycle.

FixedVariable (Base)Variable (Best)Variable (Worst)
Interest$140.3K$129.9K$129.9K$129.9K
Principal$114.1K$116.6K$116.6K$116.6K
Balance$285.9K$283.4K$283.4K$283.4K
Base saves: $10.4K (variable cheaper)

Full 25 Years

Full amortization cost.

FixedVariable (Base)Variable (Best)Variable (Worst)
Interest$236.1K$210.4K$210.4K$210.4K
Principal$400K$391.3K$391.3K$391.3K
Balance$0$8.7K$8.7K$8.7K
Base saves: $25.7K (variable cheaper)

Keep going

Your next 3 moves
Best Mortgage Rates

Compare current Canadian lender rates.

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True Cost of Owning

Full monthly carrying cost breakdown.

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Affordability Calculator

Re-check your budget with today's rates.

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