Rate compare
What a rate difference really costs
A quarter point sounds small until it compounds. Put your offer next to another rate, or next to what people with similar mortgages signed, and see the gap in dollars: monthly, over your term, and across the full amortization.
B · 4.19% fixed is the cheaper mortgage. $85.51 less every month, and $7,414 less interest over the 5-year term.
Monthly payment
$85.51 less with B · 4.19% fixed
Interest over the 5-year term
$7,414 less with B · 4.19% fixed
Owing at term end
$2,283 less owing with B · 4.19% fixed
If both rates held for the full 25-year amortization, which is an assumption, the pricier mortgage costs $25,654 more in interest all-in.
Amortization schedules
Yearly totals; tap a year for its monthly detail, which opens on both sides so the rows stay aligned. The Excel download has every month for both mortgages.
A · 4.50% fixed
| Year | Interest | Principal | Balance |
|---|---|---|---|
| ▸ 1 | $22,066 | $11,142 | $488,858 |
| ▸ 2 | $21,559 | $11,649 | $477,208 |
| ▸ 3 | $21,029 | $12,179 | $465,029 |
| ▸ 4 | $20,475 | $12,734 | $452,295 |
| ▸ 5 | $19,895 | $13,313 | $438,982 |
| ▸ 6 | $19,289 | $13,919 | $425,063 |
| ▸ 7 | $18,656 | $14,552 | $410,511 |
| ▸ 8 | $17,994 | $15,215 | $395,296 |
| ▸ 9 | $17,301 | $15,907 | $379,389 |
| ▸ 10 | $16,578 | $16,631 | $362,759 |
| ▸ 11 | $15,821 | $17,388 | $345,371 |
| ▸ 12 | $15,029 | $18,179 | $327,192 |
| ▸ 13 | $14,202 | $19,006 | $308,186 |
| ▸ 14 | $13,337 | $19,871 | $288,315 |
| ▸ 15 | $12,433 | $20,775 | $267,540 |
| ▸ 16 | $11,488 | $21,721 | $245,819 |
| ▸ 17 | $10,499 | $22,709 | $223,110 |
| ▸ 18 | $9,466 | $23,742 | $199,368 |
| ▸ 19 | $8,385 | $24,823 | $174,545 |
| ▸ 20 | $7,256 | $25,952 | $148,592 |
| ▸ 21 | $6,075 | $27,134 | $121,459 |
| ▸ 22 | $4,840 | $28,368 | $93,091 |
| ▸ 23 | $3,549 | $29,659 | $63,431 |
| ▸ 24 | $2,199 | $31,009 | $32,423 |
| ▸ 25 | $788 | $32,423 | $0 |
B · 4.19% fixed
| Year | Interest | Principal | Balance |
|---|---|---|---|
| ▸ 1 | $20,550 | $11,633 | $488,367 |
| ▸ 2 | $20,057 | $12,125 | $476,242 |
| ▸ 3 | $19,544 | $12,638 | $463,604 |
| ▸ 4 | $19,009 | $13,174 | $450,430 |
| ▸ 5 | $18,451 | $13,731 | $436,699 |
| ▸ 6 | $17,870 | $14,313 | $422,386 |
| ▸ 7 | $17,264 | $14,919 | $407,468 |
| ▸ 8 | $16,632 | $15,550 | $391,917 |
| ▸ 9 | $15,974 | $16,209 | $375,709 |
| ▸ 10 | $15,287 | $16,895 | $358,814 |
| ▸ 11 | $14,572 | $17,610 | $341,204 |
| ▸ 12 | $13,826 | $18,356 | $322,848 |
| ▸ 13 | $13,049 | $19,133 | $303,715 |
| ▸ 14 | $12,239 | $19,943 | $283,772 |
| ▸ 15 | $11,395 | $20,787 | $262,984 |
| ▸ 16 | $10,515 | $21,668 | $241,317 |
| ▸ 17 | $9,597 | $22,585 | $218,732 |
| ▸ 18 | $8,641 | $23,541 | $195,190 |
| ▸ 19 | $7,644 | $24,538 | $170,653 |
| ▸ 20 | $6,605 | $25,577 | $145,076 |
| ▸ 21 | $5,523 | $26,660 | $118,416 |
| ▸ 22 | $4,394 | $27,788 | $90,628 |
| ▸ 23 | $3,217 | $28,965 | $61,663 |
| ▸ 24 | $1,991 | $30,191 | $31,471 |
| ▸ 25 | $713 | $31,471 | $0 |
Standard Canadian mortgage math: fixed rates compound semi-annually, variable monthly, payments monthly. Estimates for information only, not a mortgage offer or financial advice; your lender's exact schedule can differ by rounding conventions and payment date.