Fixed-Rate Mortgages

A fixed-rate mortgage is a home loan where the interest rate remains constant throughout the entire repayment period, typically 15 or 30 years. This means your monthly payments stay the same, providing stability and predictability in budgeting. Because the interest rate doesn’t change, you'll always know how much you owe each month, regardless of fluctuations in the economy or interest rates. Fixed-rate mortgages are popular for their simplicity and peace of mind, especially for those planning to stay in their home long-term, ensuring consistent payments and protection from rising interest rates.