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Fixed-rate and variable-rate mortgages
Fixed-rate mortgages
Term |
Special rateⓘ |
High-ratio rate |
|---|---|---|
|
4.44% |
4.09% |
When to choose fixed
- You want the comfort of a predictable payment
- You want the options of a fixed term
- You want peace of mind by locking in a specific rate
Applies only to new mortgages of owner-occupied properties with an amortization of 25 years or less.
Variable rate mortgages
Term |
Special rateⓘ |
High-ratio rate |
|---|---|---|
|
4.75% |
4.45% |
When to choose variable
- Flexibility of annual prepayments of up to 20% without paying a prepayment charge
- You want the option to convert to fixed if rates go up
- You think interest rates won't increase
Applies only to new mortgages of owner-occupied properties with an amortization of 25 years or less.
Rates shown for the applicable term are CIBC’s special discounted rates and aren’t posted rates. Offer may be changed, withdrawn or extended at any time, without notice.
Annual Percentage Rate (APR) is the cost of borrowing for a loan expressed as an interest rate. It includes all interest and non-interest charges associated with the mortgage. If there are no non-interest charges, the annual interest rate and APR will be the same.
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