Variable Mortgage Trigger Rate Calculator

Use This Calculator To Estimate Your Variable Mortgage Trigger Rate

Please note that this is an estimation only and is based on a simplified calculation with annual compounding and a 30 year amortization period. Please contact your lender to find out what your actual trigger rate is.

When Do Variable Rates Change?

The variable rate is directly related to your lender’s prime rate, which  changes with the target rate set by the Bank of Canada, less a mortgage discount that you might be offered. Note that the prime rate can vary from lender to lender. Click here to find out what your current prime rate.

What Is A Trigger Rate?

When you get a variable mortgage, your monthly payments are based on your starting variable rate. Your monthly payments may stay the same even as variable rates go up. Once the variable rate goes higher than the “trigger rate”, your monthly payments will start to go up.

How Do I Get My Trigger Rate?

Your trigger rate is based on a number of things, including your starting variable rate (starting prime rate less a mortgage discount), your mortgage amortization period, and the number of payments you’ve made. Use our calculator above to estimate your trigger rate.

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