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Quite often the question we get asked as a mortgage agent revolves around the trigger rate and trigger point in a variable rate mortgage. Although the concept is easy to understand but difficult to remember because of the overlap in names. Here is a wonderful read that not only clarifies the concept for those looking for a variable rate mortgage but also it explains how this will lead to a rise in their payments even if the payments were kept fixed earlier on when the mortgage began.

https://www.canadianmortgagetrends.com/2022/08/variable-rate-mortgages-are-about-to-trigger-payment-increases/

Variable-rate mortgages are about to trigger payment increases - Mortgage Rates & Mortgage Broker News in Canada There's been a lot of discussion recently about how variable-rate mortgage holders could face their "trigger point." We're going to explore what that means, and the implications for borrowers.