A variable mortgage rate can move: a central-bank date alone does not predict your payment.
An adjustable-rate mortgage is tied to an index and your written contract terms. Payment can change with the initial period, margin, caps and adjustment frequency. This is educational information, not personalised financial advice.
Read the contract before reacting to rate news
A central-bank increase or decrease does not always reach every loan immediately or equally. Find your index, margin, next adjustment date, rate caps and the highest payment you could face.
Questions to write down for your lender
- Which index and margin determine my rate?
- When can my rate and payment change?
- What caps limit the first and later adjustments?
- What would my payment be under several rate scenarios?
Questions fréquentes
Does a central-bank decision change my loan the same day? Not necessarily: your contract, index and adjustment schedule determine the actual effect.
Compare the written information and ask your lender for a numerical explanation before making a decision.