How will your mortgage payments change?

Mortgage amount
Term (years)
Amortization (years)
Payment frequency

Pick two rates to compare

Rate 1
Rate 2

Monthly payment

5.0%

$1,163

4.5%

$1,107

Monthly difference

-$56

Total paid over 5-year term

5.0%

$69,793

4.5%

$66,417

Difference over a 5-year term

-$3,376

Total paid over 5-year term

5.0%

Total: $69,793

4.5%

Total: $66,417

Read the methodology

Credits: Graeme Bruce, Nael Shiab, Wendy Martinez, Robert Davidson