This conversion from a variable rate mortgage to fixed rate can be done any time without penalties. Every 3 months, ING Direct variable rate mortgage interest rate will be adjusted to reflect their prime rate. Variable Rate Mortgage by CanEquity Mortgage Canada The variable rate mortgage of CanEquity is based on a five year term. They are the ones responsible for bringing together mortgage lenders and their borrowers. As opposed to bank officers, mortgage brokers are not employees of the lending companies they work for. Instead, they work independently as free lance agents who are on the look out for borrowers looking for a good mortgage. In today's market, the mortgage interest rates are much lower than they were in the mid-1980s to the 90s. But within the next year or two, financial experts have come up with predictions mostly outlining the rise of mortgage interest rates. A sad fact however, is that with mortgage interest rates, there are no certainties and no guarantees. Amortization Mortgages: What the experts say According to Philip Russel, assistant professor of finance at Philadelphia University, an amortization mortgage is "the systemic payment plan - such as a monthly payment - so that your loan is paid off over the specified loan period." Based on his given definition, we can therefore safely conclude that an amortization mortgage is an amount of money that is to be paid off by a certain date. By turning the value of your home into cash, reverse mortgages gives you virtually unlimited funds without having to move and even without repaying the loan every month. There are several ways to give you the cash from reverse mortgages. You can get cash from a reverse mortgage all at once or in a single lump sum. This means that the 80 20 mortgage loan has a fixed rate for the first five years. However after the initial five years, the payment for the 80 20 mortgage loan interest rates is adjusted annually. Others structure their 80 20 mortgage loans in a slight different way. 80 20 mortgage loans have the 20 percent piggyback dependent on the prime rate.