Free Quiz — 2026
Fixed vs Variable Mortgage Quiz — Get Your Personalized Recommendation
The fixed vs variable decision isn't about predicting rates — it's about your personal situation, risk tolerance, and timeline. Answer 5 questions and get a recommendation built for you, with live rate data.
Best Fixed Rate
4.89%
Best Variable Rate
5.45%
How long are you planning to stay in this home?
Understanding Your Result
The quiz weighs five key factors that drive whether fixed or variable makes sense for your situation. No single factor is decisive — it's the combination that matters.
Points Toward Fixed
- → Staying 7+ years (riding out full term)
- → $400 payment increase would cause stress
- → You expect rates to rise
- → Very unlikely to break the mortgage
- → Need certainty in your budget
Points Toward Variable
- → Moving within 2–4 years (lower penalty)
- → You have financial flexibility for payment swings
- → You expect rates to fall or stay flat
- → Job change or move possible before term ends
- → Comfortable with uncertainty for savings
Current Rate Comparison
| Product | Rate | $500,000 | $700,000 | $900,000 |
|---|---|---|---|---|
| 5-Year Fixed (Broker) | 4.89% | $2,877/mo | $4,028/mo | $5,178/mo |
| 5-Year Variable (Broker) | 5.45% | $3,037/mo | $4,252/mo | $5,467/mo |
| 3-Year Fixed (Broker) | 4.74% | $2,834/mo | $3,968/mo | $5,102/mo |
Monthly payments shown for 25-year amortization. Rates as of today — updated hourly.
Fixed vs Variable: The Historical Data
Historical analysis of Canadian mortgages consistently shows that variable-rate borrowers pay less interest over full mortgage lifetimes in most rate environments. A Bank of Canada study found that variable-rate mortgages cost less than fixed-rate mortgages in approximately 75% of historical periods going back to the 1980s.
The notable exception was 2022–2023, when the Bank of Canada raised rates by 475 basis points in 18 months — the fastest tightening cycle in Canadian history. Variable borrowers experienced significant payment increases during this period, though rates have since been cut substantially.
The key insight: the choice is not about predicting rates — it's about how much payment variability you can absorb and how likely you are to break your mortgage early. Read the full analysis in our Fixed vs Variable comprehensive guide.