Should you lock in?
FixWise compares your current variable mortgage against the fixed conversion rate your lender is offering, using market-implied rate assumptions in the background.
A plain-language answer, backed by rate-path math.
The app starts with only the information most borrowers can find quickly: mortgage balance, current variable rate, remaining term, and the fixed rate offered by the lender.
It then projects staying variable against converting to fixed, including payment range, total interest, ending balance, and the break-even fixed rate. The result is framed as a model view, not a recommendation to convert or stay variable.
The market-implied curve reflects market pricing as of a point in time. It is not a guarantee or promise of future Bank of Canada decisions.
Should I lock in my variable mortgage rate?
FixWise compares your lender's fixed conversion offer with a projected variable-rate path. It does not give mortgage advice, but it helps show whether the numbers lean fixed, variable, or neutral based on the assumptions used.
What does FixWise use for future rates?
The model uses Canadian market-rate data to build a market-implied Bank of Canada policy-rate path, then applies the estimated lender prime spread and your variable-rate discount or premium.
Is the market-implied path a guarantee?
No. It reflects market pricing at a point in time. Actual Bank of Canada decisions, lender prime rates, and fixed conversion offers may be higher or lower.
Should I still speak with a mortgage professional?
Yes. The calculator is a starting point. Your mortgage contract, penalty exposure, plans to sell or refinance, and cash-flow comfort all matter before making a final decision.
Run the numbers, then talk through the result.
FixWise is designed to make the conversation sharper. It does not replace advice based on your actual mortgage contract.