A variable-rate mortgage has an interest rate that is not fixed for the full mortgage term. It can either have an annual rate update or an initial fixed rate before switching to a variable rate.

Aaron Broverman is the Managing Editor of Forbes Advisor Canada. He has almost 20 years of experience writing in the personal finance space for outlets such as Bankrate, Bankrate Canada, ...

When you apply for a bank account or financing, the interest rate you receive can give you a sense of how much you’ll earn in returns — or pay to borrow money. However, not all interest rates work the ...

Fixed-Rate and Variable-Rate Certificates of Deposit (CDs) stand out as two widely sought-after forms of time deposit provided by banks, each presenting distinct advantages to investors. A Fixed-Rate ...

Westpac's lowest variable rate has fallen 10 basis points to 5.24% p.a. (5.25% comparison rate*) – a special offer advertised to owner-occupiers with loan-to-value ratios (LVRs) of up to 70%. That ...