If you have an adjustable rate mortgage, a change to the MCAP Prime Rate will impact both your interest rate and your mortgage payments.
If a change to the prime rate occurs during a payment cycle, the payment amount will not change until the following mortgage payment date, however the amounts applied to principal vs. interest will be adjusted based on the new rate.

If you have a fixed rate mortgage, a change to the MCAP Prime rate will not impact your mortgage payments.

If you would like to contact us via email we can be reached at service@mcap.com or by telephone, at 1-800-265-2624.