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What is the Fix or Float Calculator for?

The Fix or Float Calculator helps you figure out whether you should fix your mortgage interest rate for more security or float it to potentially gain more savings in your interest payments.

Interest rates can remain stable for a period of time, and become unpredictable at another. While you can never be completely sure as to how interest rates may turn out, you can always prepare and take advantage of potential trends by either fixing or floating your rate.

Fixing your rate allows you to keep your rate as is, regardless of how unstable these could turn out over time. Note that some banks may charge a fee for this service. On the other hand, floating your rate allows you to take advantage of potentially favourable. However, this also exposes you to the risk of being drawn into higher, more expensive rates.