To calculate an amount for you, we've assumed the interest rate is fixed over the entire amortization period. In fact, interest is usually renegotiated at the end of each mortgage term, when rates may be higher or lower. Other options, such as a variable interest rate, can also result in a different payment amount. The qualifying interest used to qualify for mortgage loan insurance is the greater of the mortgage contract rate or the Bank of Canada's conventional 5-year fixed posted rate. For more information, contact your mortgage professional.