Glossary » Interest
Interest - An amount, expressed in percentile, that a borrower agrees to pay on borrowed money. In Canadian mortgages, mortgage interest is compounded semi-annually (twice per year).
| Mortgage Term | Rate |
| INTRO VARIABLE | 2.24% |
| 6 MONTH CLOSED | 4.75% |
| 1 YEAR CLOSED | 5.00% |
| 2 YEAR CLOSED | 5.49% |
| 3 YEAR CLOSED | 5.19% |
| 4 YEAR CLOSED | 5.29% |
| 5 YEAR CLOSED | 5.25% |
| 7 YEAR CLOSED | 5.90% |
| 10 YEAR CLOSED | 6.05% |