Glossary

Fixed rate
A fixed mortgage rate is an interest rate that remains the same for the entire duration of the mortgage contract. Your interest payments do not change, even if market rates go up or down.
Variable rate
A variable mortgage rate (SARON) is an interest rate that changes regularly in line with the SARON reference rate, to which the bank adds a margin. Your interest charges can therefore increase or decrease over time, depending on how market interest rates develop.
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