If you’re a homeowner in Kitchener-Waterloo (or hoping to be one soon), chances are you’ve heard the great debate: fixed or variable? And honestly, it’s one of the top questions I get as both a REALTOR® and Mortgage Agent.
The good news? You don’t need a finance degree to figure it out — just a little clarity (and maybe a coffee ☕).
Fixed Rate: The Set-It-and-Forget-It Vibe
What it means: Your mortgage payment stays the same for your full term.
Why people love it: Peace of mind. In a world where gas, groceries, and Netflix subscriptions all seem to go up… knowing your mortgage won’t is pretty comforting.
Best for: Homeowners who like predictability, tight budgets, or those planning to stay in their home for the long haul.
Variable Rate: The Flexibility Play
What it means: Your payment may change as interest rates shift.
Why people love it: Potential to save money if rates go down. Also, variable mortgages often come with lower penalties if you need to break your mortgage early.
Best for: Buyers who are comfortable with a little risk, or who might sell/refinance before their term is up.
What’s Happening in 2025?
In Waterloo Region, I’m seeing many homeowners lean fixed right now. After a few roller-coaster years, people are craving stability. But — variable rates can still make sense if you’ve got wiggle room in your budget and don’t mind some ups and downs.
My Take?
It’s not about right or wrong — it’s about you. Your lifestyle, your budget, and your comfort level with risk. That’s where a good mortgage conversation comes in (and yes, I know a gal 😉).
👉 Thinking about your next move? Let’s chat mortgages + MLS® today.