Tap Canadian and you could win $1000*!
Complete 5 eligible Interac® Debit transactions from July 1 - August 31 for your chance to win.
Learn more.An open mortgage means you can pay off the mortgage or transfer it to another financial institution at any time, penalty-free.
Typically, open mortgages have a variable interest rate, meaning the rate can go up or down as market rates change.
A closed mortgage means you are locked into a fixed term that ranges from 6 months to 5 years. Closed mortgages can have a fixed rate or a variable rate and will incur a pre-payment penalty if paid out or transferred to another financial institution before the end of the term.
Check out our current mortgage rates or book a meeting with an advisor to review which mortgage option is best for you.
