Simply put, with a fixed rate mortgage, the amount you pay in interests remains the same over the entire course of the mortgage term. This is generally spread across 15 to 30 years. However, there are variations based on how you wish to repay, which can be discussed with us upon consultation.
With an adjustable rate mortgage, the amount paid on interests fluctuates based on the indexes. Due to the nature of this type of loan there are variations of this loan that can be altered over its term, you can discuss with us to get a better idea of what suits your particular situation.