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Check out today's best mortgage rates in Canada by type and term.
| Insured ? | 80% LTV ? The rates in this column apply to mortgage amounts between 65.01% and 80% of the property value. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | 65% LTV ? The rates in this column apply to mortgage amounts that are 65% of the property value or less. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | Uninsured ? | Bank Rate ? | ||
|---|---|---|---|---|---|---|
Insured 4.64% | 80% LTV 4.19% | 65% LTV 4.19% | Uninsured 4.99% | 4.99% | ||
Insured 3.99% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 4.44% | 4.53% | ||
Insured 3.69% | 80% LTV 3.79% | 65% LTV 3.79% | Uninsured 3.9% | 4.39% | ||
Insured 3.84% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.39% | 4.44% | ||
Insured 3.69% | 80% LTV 3.55% | 65% LTV 3.55% | Uninsured 3.69% | 4.19% | ||
Insured 4.19% | 80% LTV 4.24% | 65% LTV 4.24% | Uninsured 4.89% | 5% | ||
Insured 5.04% | 80% LTV 4.34% | 65% LTV 4.34% | Uninsured 5.24% | 6.09% | ||
Insured 3.9% | 80% LTV 3.95% | 65% LTV 3.9% | Uninsured 3.9% | 5.95% | ||
Insured 3.45% | 80% LTV 3.45% | 65% LTV 3.45% | Uninsured 3.5% | 4.24% | ||
Insured N/A | 80% LTV N/A | 65% LTV N/A | Uninsured N/A | N/A | ||
Insured 5.45% | 80% LTV 5.45% | 65% LTV 5.45% | Uninsured 5.5% | N/A |
There are three main drivers behind mortgage rates in Abbotsford and Canada at large:
The Bank of Canada influences mortgage rates through its policy rate. The Bank’s objective is to keep inflation in the target range of 1% to 3% and preserve the value of the Canadian dollar. It achieves this by setting the target overnight rate, also known as the policy rate.
As of today, the policy rate is 2.25%. The central bank uses the target rate to influence how the banks set their own rates and acts as a barometer for the rate at which banks borrow and lend among themselves.
The higher the inflation, particularly if it’s above 3%, the higher the likelihood of a rate hike. Though inflation does not directly affect mortgage rates, the Bank tends to raise rates to cool down economic activity and force homebuyers to retreat from the market. It’s worth noting that government bond yields, which influence fixed rates, are affected by inflation as well, in addition to factors like oil prices, geopolitical tensions and broader economic conditions (which currently remain uncertain).
Banks, credit unions, monoline lenders and other financial institutions compete to attract borrowers across Abbotsford and beyond. During competitive market conditions, lenders may offer better rates. Shopping around and comparing multiple lenders — including local British Columbia credit unions like Coast Capital Savings — can often result in a better mortgage rate.
While you may be able to get the best mortgage lenders Abbotsford, that doesn’t mean you’ll automatically get the lowest rate. Mortgage interest rates in Abbotsford and across Canada are determined based on a number of factors.
1. Down payment
Typically, you’ll get a lower rate if your down payment is less than 20%. That’s because you must also buy mortgage default insurance, which protects the lender in the event you’re unable to make your regular payments. When you make a down payment of more than 20%, you don’t have to buy mortgage default insurance and the lender is taking on more risk and charges a slightly higher rate.
The rules regarding down payments are set by the federal government. These are the required minimums:
2. Credit score
Mortgage companies in Abbotsford and across the country also look at your credit score (which is between 300 and 900) to calculate their mortgage rates. Abbotsford lenders (and all lenders) look at your score to determine what kind of borrower you are. If you have a low score, you’re considered to be a risky borrower. If you have a high score, you’re considered to be a more trustworthy borrower. You’ll also be more likely to get one of today’s best mortgage rates in Abbotsford if your score is excellent (760 or higher).
3. Debt service ratios
To qualify for a mortgage loan, lenders in Abbotsford will also look at your debt service ratios. The first ratio they look at is the gross debt service (GDS) ratio. This provides a snapshot of what you’re spending on housing. This is made up of your mortgage payments, property taxes, heating costs, and condo fees (if you’re buying a condo) divided by your salary before tax. Ideally, your household GDS ratio should be under 35%, but some lenders will allow it to be as high as 39%.
The other ratio lenders review is your total debt service (TDS) ratio. This includes both your housing costs and debt payments. The TDS is your GDS plus any debt payments and divided by your pre-tax income. Lenders like a household’s TDS to be lower than 42%, but some will allow it to be 44%.
4. Employment and income
And the last thing that lenders will look at is your annual income, how long you’ve been at your current company, and if you’re a full-time, part-time, or contract worker. Self-employed workers will be required to provide some additional documentation, such as bank statements, copies of your tax returns, and proof that all your taxes have been paid.
Whether you’re buying a house or a condo, mortgage rates in Abbotsford won’t vary depending on the type of property you buy.
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How do these mortgage types differ? Conventional (low-ratio) mortgage requires a down payment of 20% or more, with no mandatory insurance, while a high-ratio mortgage requires a down payment of below 20%, plus mandatory insurance.
Which mortgage type offers cheaper rates? As of August 2026, the average conventional 5-year fixed rate is 4.17%. That’s 17 bps above the average high-ratio 5-year fixed rate, which stands at 4.00%.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 09/25 | 4.53% | 4.49% |
| 10/25 | 4.50% | 4.42% |
| 11/25 | 4.45% | 4.44% |
| 12/25 | 4.58% | 4.45% |
| 01/26 | 4.58% | 4.46% |
| 02/26 | 4.57% | 4.63% |
| 03/26 | 4.38% | 4.30% |
| 04/26 | 4.31% | 4.10% |
| 05/26 | 4.26% | 4.13% |
| 06/26 | 4.15% | 3.95% |
| 07/26 | 4.17% | 4.00% |
| 08/26 | 4.18% | 4.02% |
Last Updated: September 1, 2026
How do these mortgage rates differ? A fixed rate mortgage is a rate fixed over a period of time. Interest rates and the mortgage payments remain the same (and consistent) over that mortgage term. A variable rate mortgage is different. While the mortgage payment remains constant, the interest rate payments fluctuate with the prime interest rate.
Which rate is cheaper? As of August 2026, the 5-year fixed rate is 4.13%. That’s 46 bps above the 5-year variable rate, which stands at 3.67%.
| Month | Fixed | Variable |
|---|---|---|
| 09/25 | 4.68% | 4.89% |
| 10/25 | 4.76% | 4.78% |
| 11/25 | 4.73% | 4.58% |
| 12/25 | 4.79% | 4.60% |
| 01/26 | 4.70% | 4.54% |
| 02/26 | 4.62% | 4.56% |
| 03/26 | 4.44% | 4.36% |
| 04/26 | 4.26% | 4.18% |
| 05/26 | 4.19% | 3.67% |
| 06/26 | 4.11% | 3.61% |
| 07/26 | 4.13% | 3.67% |
| 08/26 | 4.13% | 3.69% |
Last Updated: September 1, 2026
New mortgage loan values have been trending upward throughout 2025, reaching the average of $482,618 in Abbotsford and $360,597 in Canada by the end of Q4 2025.
Here are all the average new mortgages loan values in Abbotsford from 2022 to 2025:
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canada | $368,936 | $371,063 | $363,654 | $325,612 | $320,298 | $314,540 | $338,522 | $327,899 | $323,537 | $332,825 | $349,364 | $343,271 | $356,831 | $350,281 | $360,986 | $360,597 |
| Abbotsford-Mission | $536,466 | $543,122 | $502,166 | $442,016 | $427,160 | $440,206 | $510,851 | $455,749 | $464,162 | $482,911 | $483,402 | $482,497 | $481,055 | $474,378 | $491,704 | $497,925 |
Scheduled monthly payments have been trending downward throughout 2025, reaching the average of $2,634 in Abbotsford by the end of Q4 2025.
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $2,124 | $2,364 | $2,532 | $2,561 | $2,578 | $2,600 | $3,017 | $2,934 | $3,029 | $2,900 | $2,869 | $2,755 | $2,681 | $2,589 | $2,658 | $2,634 |
Closing costs are one-time fees that property buyers must pay upon purchase. These costs may include:
Abbotsford imposes its land transfer tax by applying a tax-bracket system to the property’s purchase price.
There’s a lot of jargon used when discussing mortgages, such as a mortgage term and an amortization period.
The mortgage term is the amount of time your contract lasts. When the term ends, you can renew the contract with the remaining balance at a new rate with the same lender or you can find a new lender. The most popular term is for five years, but terms of six months to 10 years are also available.
The amortization period is the length of time you have to pay off the entire mortgage balance. The most popular amortization period is 25 years. If you have a high-ratio mortgage, you’re only allowed to get an amortization of 25 years or less. If you have a conventional mortgage, some lenders will allow your amortization period to be as long as 35 years.
When you do a mortgage rates comparison of Abbotsford lenders, you may see a huge difference between open and closed mortgage rates.
Closed mortgage rates are usually lower than open mortgages. The reason? Closed mortgages come with a number of restrictions, such as costs to break your mortgage as well as a limited number of additional payments and a maximum percentage you’re allowed to pay annually.
Open mortgage rates are higher than closed mortgages because they’re more flexible and there are fewer restrictions. If you want to make an extra payment every month without having to pay a penalty, pay off a large portion of the mortgage anytime, or pay off the remaining amount you owe whenever you want, you’re usually allowed to do so when you have an open mortgage.
Having a great rate is important, but there are other factors that can increase your savings:
LowestRates.ca works with top banks and brokers to bring you competitive mortgage rates from lenders in Canada. All you have to do is answer a few questions, and in minutes you’ll be provided with today’s mortgage rates. There’s no obligation, but you can choose to speak with our broker partner to secure your best rate and see if you're eligible for more savings.
Yes, it’s safe — you no longer need to visit a bank branch or mortgage broker’s office in person to apply for a mortgage. It’s becoming increasingly common for Canadians to apply for mortgages online. LowestRates.ca only works with reputable, trustworthy financial institutions. Your credit score won’t be affected and your information is secure. We don’t share your information with anyone unless you want to connect with a mortgage broker. We take care of the heavy lifting by comparing the market for you and can connect you with the best mortgage lenders in the country.
We have a strong selection of lenders on LowestRates.ca including the big banks and many independent providers and we’re adding more lenders all the time. This ensures we’re always delivering you a competitive rate. Even if you’re not ready to commit to anything, you can use our site as a starting point for research (it’s totally free, and you’re under no obligation).
The better informed you are, the more likely you'll negotiate a better deal for yourself. And, really, that’s what we care about the most.
Taras Trofimov
About the Author
Taras is the Content Manager for LowestRates.ca. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like The Globe and Mail, Autoblog and MSN Autos.
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