Mortgage Types, Mortgage Calculator, Interest Rates

Fixed rate mortgages : 

Interest rate is locked in for a specific period called a term.

Variable rate mortgages : 

Rate of interest may change if rates go up or down.

Closed mortgages : 

The mortgage cannot be paid off early without paying a prepayment charge.

Open mortgages :

The mortgage can be paid off at any time during the term, without having to pay a charge.

Below you may find mortgage calculators and a recent comparison for 5-year fixed closed mortgage rates: