Does this predict where rates are going?

No, and you should be sceptical of any calculator that implies it can. This tool lets you test scenarios you choose so you can see how sensitive your outcome is to rate changes.

What is a trigger rate?

On a fixed-payment variable mortgage, the trigger rate is the point at which your payment no longer covers the interest and your balance begins to grow. Adjustable-payment variable mortgages avoid this by changing the payment instead.

Fixed vs Variable Rate Comparison

Compare a fixed rate against variable-rate scenarios you choose. These are hypothetical paths for planning — nobody, including us, can forecast rates.

Mortgage amount

Fixed rate offered

Starting variable rate offered

Amortization

years

Term

years

Hypothetical rate scenario

These are scenarios, not forecasts

The variable path shown is a hypothetical you selected. Clover Mortgage does not predict interest rates, and neither should any calculator. Use this to see how sensitive your outcome is, not to decide what rates will do.

Fixed costs less under this scenario

$13,240

Over a 5-year term, the difference in interest between the two under the "unchanged" scenario.

Fixed versus variable over the term
	Fixed	Variable
Starting payment	$3,317.50	$3,472.57
Payment at end of term	$3,317.50	$3,472.57
Interest over term	$125,741	$138,981
Principal repaid	$73,309	$69,373
Balance at end of term	$526,691	$530,627

Interest over the term

Fixed$125,741

Variable (this scenario)$138,981

Break-even average variable rate: 4.49%
Fixed rate offered: 4.49%

Variable-rate paths shown are hypothetical scenarios for planning only. Clover Mortgage Inc. is a licensed mortgage brokerage. This calculator provides estimates for information only and is not an offer of credit, an approval, or financial advice.

Every mortgage is different. A Clover Mortgage broker can confirm what you actually qualify for across more than 50 lenders — at no cost to you.

All calculators

Fixed costs less by

$13,240

Common questions

Does this predict where rates are going?: No, and you should be sceptical of any calculator that implies it can. This tool lets you test scenarios you choose so you can see how sensitive your outcome is to rate changes.
What is a trigger rate?: On a fixed-payment variable mortgage, the trigger rate is the point at which your payment no longer covers the interest and your balance begins to grow. Adjustable-payment variable mortgages avoid this by changing the payment instead.