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https://www.cibc.com/en/personal-banking/mortgages/resource-centre/variable-rate-mortgage.html https://www.cibc.com/en/personal-banking/mortgages/resource-...
by _whiteCaps_ 4y ago
https://www.cibc.com/en/personal-banking/mortgages/resource-centre/variable-rate-mortgage.html https://www.cibc.com/en/personal-banking/mortgages/resource-...
In variable rate mortgages, the amount going to principal vs interest changes. The monthly payments remain constant.
- humanlion87 4y agoUntil you hit a trigger rate (depending on the mortgage specifics) at which point you have to start increasing your payments.
- lupire 4y agoOK, eventually they have to pay more. Still painful.