Fixed vs. Variable: Which Mortgage Rate Is Right for Me?

Choosing between a fixed and variable mortgage is one of the biggest financial decisions you'll make as a first-time home buyer, and it's about more than just getting the lowest rate. Today on the podcast, I break down how each option works, what it could mean for your budget, and how to choose the best fit for your long-term goals and changing interest rates. As always, my goal is to help you understand your options so you can make a confident decision that supports your homeownership journey. What you’ll hear today: - How fixed mortgage rates and variable mortgage rates are determined in Canada and what causes them to change - The pros and cons of a fixed versus variable mortgage for first-time home buyers in Ontario - How interest rate changes can affect your monthly mortgage payment, cash flow, and long-term financial plan - What mortgage penalties look like if you need to refinance, sell your home, or break your mortgage before the end of your term - When it makes sense to choose a fixed rate for payment stability versus a variable rate for greater flexibility - What to know before switching from a variable mortgage to a fixed mortgage, or vice versa, during your mortgage term If you found this episode helpful, please leave a like and share with me any questions you’d like me to answer in future episodes. For those of you who are ready to create a mortgage strategy that works for your goals, book a free call with me and let’s get you a step closer to being a homeowner. I’ll see you next time. Specific Questions?  Ready to get started? **Book a free call with Brianna:** www.Bricallme.com Join my mailing list: https://briannagoslinmortgages.myflodesk.com/mortgagebites Website: http://www.briannagoslinmortgages.com Instagram: https://www.instagram.com/briannagoslinmortgages Facebook: https://www.facebook.com/brianna.goslin.mortgages LinkedIn: https://www.linkedin.com/in/briannagoslinmortgages