68% of Canadians choose a fixed rate mortgages.

Fixed: With a fixed rate mortgage, your rate and monthly payment will stay constant throughout the term of your mortgage.

Variable: With a variable rate mortgage, your rate will change together with the prime lending rate (of your lender).

80% of Canadians choose a 5-Year term.

The mortgage term is the amount of time you commit to the rules, conditions, and interest rate you agreed upon with your current lender. It is the duration of your current mortgage contract.