Are a Variable Rate Mortgages right for you?

Here are some questions to help you determine whether the VRM is the right financial tool for you.

  • I am ok with a fluctuating monthly payment if prime rate moves
  • I need a mortgage that will allow me to break it without penalty after 3 yrs in the term.
  • I want to take advantage of the lower interest rates that a below prime mortgage provides, regardless of what fixed rates are doing.
  • My credit is good and I have at least 5% down payment (purchases) or 10% equity (refinances).

Why should you choose GLM Mortgage Group?
“We Get You a Fast “YES” at the Sharpest Rate…Guaranteed”

Contact Us Now For a Free Consultation

We will call you back in no later than 90 minutes and help determine the right mortgage fit for you.

How Mortgage Rates Work

What I Need To Know About Variable Rates

  • What is a variable rate?
  • What are the pros and cons of a variable rate?
  • Understanding factors that impact variable rates
  • Understanding the 50 BPS rule

How Mortgage Rates Work

What I Need To Know About Variable Rates

  • What is a variable rate?
  • What are the pros and cons of a variable rate?
  • Understanding factors that impact variable rates
  • Understanding the 50 BPS rule

What Is a Variable Rate Mortgage?

As a Canadian, when choosing a mortgage, variable interest rates versus fixed interest rates are one key to finding the mortgage that is right for you. Fixed rate mortgages are typically higher than variable mortgage rates but will not change for the duration of its term, ensuring that your monthly payment will not increase due to market conditions. Variable mortgage rates also called floating mortgage rates are the opposite. They offer a lower initial rate but can fluctuate with the bank prime rate, leaving you more exposed in economic times when rates are on the rise. The variable rate mortgages in Canada are calculated based upon either adding or subtracting a percentage amount from the Bank of Canada Prime rate.

The variable rate mortgage has variable interest rates that adjust with the prime rate. The prime interest rate may go up or down and this may affect your monthly mortgage payments. When the prime rate goes up, more of your mortgage payment will go to pay down interest; and when the prime rate goes down, more of your mortgage payment will go to pay down principal. In the event that the variable mortgage rates rise past what your mortgage payment would cover in just interest payments, your payment can be adjusted upward or your amortization could be extended. Interest rate is affected by the Canadian economy and monetary policies, such as the prime rate, are set by the Bank of Canada.

  • Exceeded Our Expectations

    Our son-in-law and his wife recommended your company to us. We are so thankful that they suggested your…
    Vancouver Mortgage Broker Company to us. The content of information that you provided to us for our refinance was absolutely fantastic, couldn’t have been handled any better. We had a couple of glitches that came up but Wrenetta took care of them immediately and brought our stress level back down. I don’t think we have ever had such a smooth flowing experience in attaining a new mortgage. This experience exceeded our expectations. Paul & I are extremely overjoyed and blessed to have worked with this company and especially Wrenetta Sinclair. Wrenetta dealt with every problem immediately and every time I emailed her, I had a response with minutes. We highly recommend Geoff Lee and GLM MORTGAGE GROUP to anyone looking for finance/refinance. Thank you so very much.

    Paul & Betty Makarenko, Beeton Ontario

  • Beat Banks Rate Hands Down

    Geoff was awesome from the get go. Always answered any questions I had regarding the entire process whether… that was by email or phone. My mortgage was approved relatively easily and with a great rate. This mortgage broker beat my banks rate hands down. Thanks again Geoff and GLM. Would definitely use you guys again.

    Greg Wallace, Langley, BC

  • Geoff Knows What He Is Doing

    Geoff knows what he is doing! I met Geoff earlier this year and I have been extremely impressed with…
    his professionalism and dedication to his clients as a mortgage broker. If getting approved by the bank is challenging for you, Geoff can teach you what you need to do to get approved. He’s not about the sale, but helping people understand their options and teaching them what they need to do. If you like to get things done quick and painlessly Geoff at GLM Mortgage Group is your man!

    Rob Torrance, Langley BC

Outline your goals before choosing a mortgage

Before you decide whether to go variable or fixed, outline your goals. For example, If you are looking to pay down your mortgage debt as fast as possible, you will likely want a different product than if you want to maximize cash flow.

Variable rate mortgages versus fixed rates mortgages is only one of the things you’ll need to decide. It is also really important to consider other mortgage options you might not know about such as lump sum and flexible payments. You can talk through your goals with your mortgage broker to help you assess the options at a number of different lenders.

Run the numbers on different scenarios

Ask your mortgage broker to run the numbers on different scenarios. If interest rates rise by 1% in the next 5 years, how much more you will pay in interest, versus if rates stay put. How does the math change if rates go up by 2%? And how much will your monthly payment change in each of these scenarios.

You should know that many lenders will let you “fix” your payment even if you have variable rate mortgages. What this means is that as rates rise you’ll simply pay more towards interest than and less towards the principle. This is a way to have certainty with your monthly payment, but without paying the higher rate to go fixed.

Know yourself and how you feel

The third factor is your emotions. The GLM Mortgage Group provides this litmus test on whether to choose variable or fixed:  “If you are driving in to work and you hear that the Bank of Canada is raising rates, will this cause you to panic, pull over and call me? If so, you should go fixed. Variable clients need to be okay with fluctuation.”

Signing up for your first mortgage is a big deal. Ask questions to ensure that you get the best product for your circumstances, and when it comes up for renewal in five years ask these questions all over again. Don’t fall into the trap of renewing without thinking because you may miss out on getting the best deal available.

To learn more and to get the best variable mortgage rates contact the GLM Mortgage Group to get a fast ‘YES’ at the sharpest rate guaranteed.

If you want the best rate for a variable rate mortgage visit GLM Mortgage Group for all the options available to you.

What is the GLM Mortgage Group?

GLM Mortgage Group, powered by Dominion Lending Centres, is your Vancouver and Lower Mainland Mortgage Brokerage service. We are always ready to move forward with you to obtain the mortgage you need with the sharpest mortgage rate available. Whether it’s a fixed rate or variable rate mortgage you are after, we are dedicated to finding the best mortgage rates in Vancouver, including Home Loans, Consolidation Loans, Lines of Credit and more. No matter what you need, our team of Mortgage Specialists will follow through to find the best mortgage product that fits your individual circumstances. Our free online mortgage calculator keeps you informed on how much your mortgage payment will be as well as show how different mortgage rates will affect the mortgage you require.As your Vancouver mortgage broker, GLM Mortgage is committed to clear communication with our clients. We make sure you are informed on all the mortgage options available to you. We call you back within 90 minutes to make sure that you have the fastest service available.

We are not only available in Vancouver and the Lower Mainland, we are also available across Canada.GLM Mortgage Group is your Vancouver mortgage specialist. With over 22 years of experience in the investment industry we know how to wade through the challenging process of getting a mortgage. We provide smarter options to putting your mortgage in place. We know how important it is to have an experienced professional Mortgage Specialist available to walk through your mortgage experience and stay with you through to the very end.We get you a fast “YES” at the sharpest rate… guaranteed! Call us now so that you can get that mortgage you’ve been waiting for. We already have been working for you, making sure that you will have every option of a mortgage available to you. GLM Mortgage Group is on call for you!

Tools & Resources for Success!

Good Credit



GLM will help you to obtain and maintain good credit, which is critical for obtaining a mortgage. Our free Guide to Obtaining Good Credit outlines the steps required to quickly improve your credit.

Mortgage Calculator



When searching for a home, the first step is to determine what you can comfortably afford. Our free, easy-to-use mortgage calculator will help you determine the amount of your mortgage payments.

Mortgage Rates



GLM Mortgage Group always posts the best rates available anywhere. Our mortgage brokers have access to dozens of lenders, we’re able to find the best mortgage product and rate to match your unique needs.


 We work with you taking on even the most challenging cases turning a NO into a YES!