In a fixed-rate mortgage, the interest rate that you qualify for remains the same for a specific amount of time. This period of time, called the mortgage term, can range anywhere from 6 months to 10 years depending on your preference.
Choosing this product can bring stability to your financial situation. Your mortgage rate and payment will remain exactly the same for however long your selected term is.
The main benefit of a fixed-rate mortgage is having a product that is not susceptible to market swings. For some, this is the most important aspect to consider when selecting a mortgage product.
Take a look at our fixed rates or call us for a quote.