Best feature: Low variable rate that follows prime
Pay features: 1 extra payment allowed per year, can increase payment amounts
Renewal term: 3 years
Rate Guarantee: 130 days
Don’t want to lock in a rate? No problem! The rate you pay on your Variable Rate mortgage follows the prime lending rate. Your rate goes up if the prime rate increases, and if the prime rate goes down, the interest you pay will also go down.