what s the difference between fixed and variable interest rates 
fixed interest rates remain constant throughout the lifetime of the debt this means they aren t susceptible to changes in the economy so if you have a mortgage with a fixed rate of 6 it will never change until you pay off the debt variable interest rates on the other hand are privy to change based on the interest rate environment when interest rates drop or rise the rate on your loan will follow suit so your loan may be come cheaper or more expensive depending on if rates drop or rise 