In this episode of “Fixed and Variable Rates Explained” Greater Vancouver and Coquitlam Realtor Krista Lapp and Vancouver Mortgage Broker Evangeline Villanueva address the answer to the most common question about fixed and variable rates: what is the difference?

Note that this brief answer only reflects the basic difference between the two: fixed rates result in the same payments throughout the term, while variable payments can fluctuate as the bank’s prime rate changes. Watch our “To Lock In or Not” video for details about the more important differences between the two 1) Interest costs 2) Pre-payment penalties.

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Krista Lapp is a Licensed Real Estate Agent Realtor providing services in Coquitlam, Port Moody, Port Coquitlam, Pitt Meadows, Maple Ridge, Burnaby, Langley and Greater Vancouver.. Creating valuable relationships and happy clients has always been at the heart of Krista’s beliefs. With over 20 years of sales experience and being a successful entrepreneur, her level of professionalism, customer service, sales & marketing and integrity always result in exceptional client satisfaction. Krista is qualified for the Medallion Club, recognizing the top 10% of Realtors in Greater Vancouver.​