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Volatility in the Canadian economy and mortgage market has continued over the past few quarters. Stubborn inflation is potentially colliding with an upcoming recession, giving the Bank of Canada even more reasons to raise interest rates. They are signaling a time may come when rates do not increase, but that time has yet to come for homebuyers.
British Columbia homebuyers can find cheap mortgage interest rates for B.C. on LowestRates.ca. We bring you the lowest B.C. mortgage rates from 50+ Canadian banks and brokers, and there's no obligation to take the rate we offer.
Finding low mortgage rates has never been easier. All you have to do is enter a few pieces of information, and in just three minutes, we'll show you the best current mortgage rates in B.C. — just like that. Mortgage rates for houses in B.C. come in all shapes and sizes, with different term lengths, amortization periods or fixed vs. variable rates.
Keep reading to learn more about how much you can save on your mortgage and to get up to speed on the current state of the B.C. housing market.
For most Canadians, buying a home will be the biggest investment they'll ever make. It's a decision that does not come lightly, mainly because of the financial burden it puts on the purchaser. That's where financing and mortgages come in. For the uninitiated, a mortgage is simply a loan you get to help you finance the purchase of a home, land or other real estate.
Typically, the borrower pays back the loan in intervals over a set period. Those payments come with a cost, known as interest, which is determine by your mortgage rate.
Several factors like the Bank of Canada's policy rate, inflation, financial institution's prime rate, bond yields, and monetary policy play a key role in determining mortgage rates. As inflation has crept into our daily budgets, current mortgage rates in Ontario have also been on the rise. Mortgage lenders will take into account all these factors and your personal finance situation (including your credit score, income, expenditure, among other things) to determine a mortgage rate for you. While no two lenders will offer the same rate, it is best to compare rates by different lenders.
As of January 2023, BC had a population of nearly 5.5 million and accounted for about 20% of new housing construction in Canada. This will influence the mortgage rate given demand for housing.
Depending on the type of mortgage you get (fixed or variable), most rates are determined by the Bank of Canada policy rate. That is the rate that banks and lenders in British Columbia will use to set their interest rates for mortgages. The good news for people living in larger cities in British Columbia is that there is competition, and lenders are trying to attract business. As a result, rates may be lower than more rural areas where the competition is lower.
Also, monetary policy also plays a major role in determining mortgage rates. As inflation has crept into our daily budgets, current mortgage rates in Ontario have also been on the rise.
However, living in a large city like Vancouver comes with a high cost of living. It may be difficult to afford a mortgage in a city like that combined with other costs. It’s important that you know what you can afford, what type of home you’ll need and discuss options with various lenders.
Bigger cities have more lenders, because of a higher population available for business. This creates an environment of competition among lenders, who then offer rates to attract your business. In big cities like Vancouver or Toronto, you will find rates to be lower than the mortgage rates available, say in Saskatoon.
The average home price in B.C. rose by 0.66% year-over-year according to the British Columbia Real Estate Association (BCREA) with a provincial average home price of $998,159. This makes British Columbia one of the most unaffordable housing markets in Canada. Even if rates are comparable or cheaper in larger geographic areas, housing costs are still high.
Banks in British Columbia are federally regulated by the Financial Consumer Agency of Canada and the Office of the Superintendent of Financial Institutions (OFSI). Banks in British Columbia that are members of the Canadian Deposit Insurance Corporation (CDIC) will also need to follow CDIC’s by-laws.
Credit unions in British Columbia are provincially regulated by the BC Financial Services Authority (BCFSA), formally known as the Financial Institutions Commission (FICOM). Provincial laws that BCFSA administers include the Credit Union Incorporation Act, Financial Institutions Act, and the Mortgage Brokers Act.
In 2022 the BC government improved its Mortgage Brokers Act with the Mortgage Services Act. This gives the provincial regulator (the BC Financial Services Authority) more powers to investigate and discipline brokers, giving the consumer more protection and transparency.
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 4.69% | 80% LTV 4.19% | 65% LTV 4.19% | Uninsured 5.59% | 5.49% | ||
Insured 4.04% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 4.54% | 4.79% | ||
Insured 3.87% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.24% | 4.29% | ||
Insured 3.99% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.44% | 4.39% | ||
Insured 3.91% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 3.91% | 4.09% | ||
Insured 4.39% | 80% LTV 4.24% | 65% LTV 4.24% | Uninsured 5.19% | 5% | ||
Insured 5.04% | 80% LTV 4.34% | 65% LTV 4.34% | Uninsured 5.29% | 6.09% | ||
Insured 4.15% | 80% LTV 4.3% | 65% LTV 4.3% | Uninsured 4.4% | 6.35% | ||
Insured 3.95% | 80% LTV 3.95% | 65% LTV 3.95% | Uninsured 4.05% | 4.25% | ||
Insured N/A | 80% LTV N/A | 65% LTV N/A | Uninsured N/A | N/A | ||
Insured 5.25% | 80% LTV 5.25% | 65% LTV 5.25% | Uninsured 5.25% | N/A |
5.10%
4.39%
7.24%
Comparison sites like LowestRates.ca, give you the ability to compare the cheapest British Columbia mortgage rates from the best mortgage lenders in your area. Want to know what the current mortgage rates are in Canada right now? LowestRates.ca aggregates live mortgage rates — all day every day. We then connect you with mortgage brokers who get rates from a variety of lenders.
Then, just fill out the form above to try our free, no-obligation service and you could be on your way to saving big on your next home.
In fact, LowestRates.ca mortgage rates average more than two whole percentage points lower than the bank rate. People who use our service have the potential to save thousands of dollars each year on their mortgage payments with the cheapest mortgage rates in British Columbia.
With numbers like that, it’s no surprise that Canadians are increasingly using comparison sites to find the lowest mortgage interest rates in the country.
Our mortgage rate comparison service is Canada-wide and provides quotes from 50+ banks and brokers. So, whether you live in British Columbia, Alberta, Ontario, Quebec or anywhere in between, our mortgage rates are tailored to your needs. It’s fast, free and simple to use.
Mortgage rates in British Columbia are determined much as they are in the rest of the country. A generation ago, it wasn’t uncommon to see mortgage rates top double digits. But for a good portion of the last decade, the rates have remained historically low. Unfortunately for current mortgage holders and those seeking to buy a home, rates have been on the upswing as inflation has remained high.
Variable mortgage rates are determined by commercial banks’ prime rates, which are mainly swayed by the Bank of Canada’s key interest rate. That means an increase in the key interest rate almost automatically leads to a similar increase in variable mortgage rates. The Bank of Canada will typically raise its key interest rate in an effort to combat inflation, which is exactly what has been happening over the past several months.
Fixed rate mortgage loans are primarily influenced by the yield on Canadian government bonds (bond yields) of corresponding maturity. The correlation between the fixed rates and the yield on five-year Canadian government bonds is almost a near match. This is the case because bond rates represent the benchmark for financial institutions’ cost of funds.
Mortgage default insurance is a protection for the lender if you don't (or can’t) make your mortgage payments. It's required for all mortgages where the down payment is less than 20% of the purchase price.
You can find out more by using the LowesRates.ca Mortgage Default Insurance Calculator.
If you’re buying a home in Canada, there are two main types of mortgages based on the size of your down payment: a conventional mortgage or a high-ratio mortgage.
The difference between a conventional mortgage and a high-ratio mortgage is really about the percentage value of your loan. In other words, if you borrow up to 80% of the value of the property you are buying, this would be considered conventional. If you are borrowing more than 80% of the value of the property, this would be considered a high-ratio mortgage.
Which is Cheaper?
The good news about getting a high-ratio mortgage is that it requires the borrower to take out mortgage default insurance. Although this can add to the cost of the mortgage, it keeps rates down, because without it, default risk would be higher and so would interest rates. Lenders can offer lower mortgage rates when mortgages are protected by default insurance because the risk of default is spread across multiple home buyers.
Mortgage qualifying rules contain an existing stress test for high ratio mortgages, where clients have to qualify at the current Bank of Canada benchmark rate of 4.5%. Conventional mortgages will also incorporate a stress test when qualifying, using the higher of either the 5-year benchmark rate or the original contract rate plus two percentage points.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 07/24 | 5.09% | 4.86% |
| 08/24 | 5.28% | 5.07% |
| 09/24 | 5.17% | 4.97% |
| 10/24 | 4.78% | 4.52% |
| 11/24 | 4.74% | 4.46% |
| 12/24 | 4.81% | 4.61% |
| 01/25 | 4.82% | 4.64% |
| 02/25 | 4.73% | 4.45% |
| 03/25 | 4.57% | 4.29% |
| 04/25 | 4.51% | 4.14% |
| 05/25 | 4.59% | 4.35% |
| 06/25 | 4.71% | 4.58% |
Last Updated: July 1, 2025
The most important decision for homebuyers, next to finding a home, is deciding which mortgage rate suits your financial needs. There are two types of mortgage rates: Fixed rate and variable rate.
With the best fixed mortgage rates B.C., it's guaranteed that the interest rate will stay the same for a specific period of time. With this type of rate, you will always know exactly how much your mortgage payments will be. Fixed-rate mortgages are more popular than variable rates in Canada, particularly the 5-year fixed mortgage. Fixed rates can be secured up to a term of 10 years, but homebuyers who want to avoid locking in a long-term mortgage rate can seek out a term as short as six months.
It is important to look at the Canadian bond yields, which reached their peak in October 2023 then subsequently declined in 2024. The 5-year bond yield (that leads the 5-year fixed mortgage rate pricing) jumped to a high of 4.46%, which can be attributed to the markets re-pricing after expectations that the Bank of Canada rate could stay higher for longer. However, the yields mellowed down in 2024 as markets were optimistic about Bank of Canada’s rate cut in the second half. The BoC went for its first rate cut in two years on June 5, 2024, and then again in July. The 5-year bond yield has come down at 3.02% (Aug. 6, 2024) and if the BoC rate cut trend continues, it is likely to favor the 5-year fixed mortgage rate.
Variable mortgage rates in B.C. and the rest of Canada can fluctuate throughout the term of the mortgage based on market conditions. The pro for some homebuyers is that if current mortgage rates decrease, more of your mortgage payment goes toward paying off the principal. If rates increase, more of the payment goes toward interest. The downside of variable mortgage rates is that some homebuyers may not like the uncertainty of fluctuating rates. It’s best to talk to your mortgage broker about your specific needs.
Take a look at 5-year variable vs. 5-year fixed mortgage rates in B.C. over the last year.
| Month | Fixed | Variable |
|---|---|---|
| 07/24 | 4.89% | 6.01% |
| 08/24 | 4.97% | 6.17% |
| 09/24 | 4.99% | 6.28% |
| 10/24 | 4.70% | 5.75% |
| 11/24 | 4.62% | 5.36% |
| 12/24 | 4.74% | 5.23% |
| 01/25 | 4.82% | 5.06% |
| 02/25 | 4.65% | 4.92% |
| 03/25 | 4.52% | 4.68% |
| 04/25 | 4.37% | 4.52% |
| 05/25 | 4.72% | 4.80% |
| 06/25 | 4.74% | 4.87% |
Last Updated: July 1, 2025
The best mortgage interest rates available in British Columbia and across Canada are influenced by various factors. Lenders must consider certain financial elements that could increase or decrease their burden when deciding whether to approve your mortgage and what rate they can offer. Here are the main factors that will affect your mortgage rate:
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The average value of new mortgage loans in British Columbia has seen its ups and downs. Starting in the first quarter in 2019, the average value of new mortgages was $344,204, significantly higher than the Canadian average of $258,241.
The values only rose fairly steadily in British Columbia up until the second quarter of 2022, when values dropped from $491,960 to $487,366. The drop continued until about the second quarter of 2023 where they have been more volatile.
Some of that comes from an overheated real estate market that reached a peak in 2022 where the average MLS listing price was $1.1 million according to BC Real Estate Association. In February of 2023 that number dropped by 14.7% to $941,575.
Interest rates have been coming down lately and the market has shifted, with prices maintaining relative high pricing. As the rates have come down, and inflation has abated, a higher value of new mortgage loans can be seen.
| Geography | 2022 - Q1 | 2022 - Q2 | 2022 - Q3 | 2022 - Q4 | 2023 - Q1 | 2023 - Q2 | 2023 - Q3 | 2023 - Q4 |
|---|---|---|---|---|---|---|---|---|
| Canada | $ 361,001 | $366,163 | $363,654 | $325,612 | $320,298 | $314,450 | $338,522 | $327,889 |
| Provinces | ||||||||
| British Columbia | $484,941 | $491,960 | $487,366 | $ 439,719 | $429,370 | $439,590 | $465,283 | $454,516 |
Average monthly payments for new mortgage loans have increased over the past few years. The chart shows that as interest rates began to rise, so did payments. In Q1 2021 payments jumped from $1,860 to $1,977 and then again to $2,055 in Q3 2021.
Much of that climb came as a result of high home prices but also as interest rates increased post-Pandemic. The rise in inflation and the need to curb it, led to increased interest rates by the Bank of Canada. Those rates have been reduced twice this past summer.
| Year | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| 2023 | $2,607 | $2,623 | $2,793 | $2,913 |
| 2022 | $2,038 | $2,234 | $2,506 | $2,553 |
| 2021 | $1,860 | $1,977 | $2,055 | $1,973 |
| 2020 | $1,831 | $1,808 | $1,842 | $1,858 |
| 2019 | $1,790 | $1,762 | $1,722 | $1,787 |
The best way to find the lowest mortgage rate in British Columbia is by comparing rates from different mortgage providers. Lowestrates.ca helps you compare quotes from 50+ mortgage providers across Canada. The rates depend on the Bank of Canada’s overnight rate, your choice of mortgage type and some other factors as well. A rate comparison site like Lowestrates.ca or a mortgage broker can help you identify the rate best suited for your financial situation.
Beyond comparison sites you can do the following:
Ensure your credit score is high – A higher score means you are a “good risk” to the bank or lender, who would be more likely to work with you on finding a preferred rate.
Save for a larger downpayment – The more you put down the lower your mortgage, overall, will be. This could help with mortgage rates as well, seeing as the banks are taking on less debt risk.
Minimize existing loans – The less debt you have the more your lender will be willing to work with you to get a better rate. Lenders look at risk and your ability to focus on one or two loans, rather than many, can help you save money.
Increase your income – If possible, ask for that raise or find a job that may be better an increase your ability to pay the bills.
The BC housing market was on a consistent upswing from 2013 to 2017. As the pandemic hit in 2020, and as mortgage rates remained low, residential sales reached a peak of more than 12,000 units, essentially, until inflation and mortgage rates began to climb.
This period, post pandemic, became a sellers’ market, with high prices. However, rates remained high until the second half of 2023 when buyers began to come off the sidelines and come back into the market.
In May 2024, prior to the announced rate cuts of the Bank of Canada, most of the province say unit sales that were below prior year numbers. Greater Vancouver, for example, saw a year-over-year change of –19.3%, while the Fraser Valley’s was –12.9%. The highest negative year-over-year change occurred in Chilliwack with a decline in sales of –22.6%.
Since then, and as rates have come down twice in two months, listings have risen in the entire province. The highest growth rate for listings was on Vancouver Island with a year-over-year active listings increase of 59.5%.
There are three rates to consider when calculating your total property transfer tax amount:
The general property transfer tax applies for all taxable transactions. The general property transfer tax rate is:
If the property is worth over $3,000,000, a further 2% tax will be applied to the residential property value greater than $3,000,000.
If the property is mixed-use (such as residential and commercial), you pay a further 2% tax on only the residential portion.
If the property includes land classed as farm only because it is used for an owner's or farmer’s dwelling, up to 0.5 hectares will be treated as residential property.
If you’re a foreign national, foreign corporation or taxable trustee, you must also pay the additional property transfer tax on the fair market value of the residential portion of the property if the property is within a specified area of B.C.
As for closing costs, a good rule of thumb is to calculate between 2% and 4% of the final home sale price.
First-time home buyers in British Columbia have options to help reduce or eliminate the amount of property transfer tax they pay when buying a home.
To qualify, you must:
Be a Canadian citizen of permanent resident
Have either:
Lived in B.C. for at least a year immediately before the date you register the property
Filed at least 2 income tax returns as a B.C. resident in the last 6 taxation years immediately before the registration date
Have never owned a registered interest in a property that was your principal residence anywhere in the world at any time
Have never received a first-time home buyers' exemption or refund and the property must:
Only be used as your principal residence
Have a fair market value of $500,000 or less
Be 0.5 hectares (1.24 acres) or smaller
You may qualify for a partial exemption from the tax if the property:
Has a fair market value less than $525,000
Is larger than 0.5 hectares
Has another building on the property other than the principal residence
Also, the federal government will allow 30-year amortization periods for insured first-time home buyers purchasing newly-constructed homes, as of August 1, 2024.
You can apply for the program by filling out the application here.
Currently, the Bank of Canada’s policy interest rate is 4.5%, and was cut twice over the summer of 2024. Inflation has held steady at 2.7%. While this is higher than the target inflation rate of 2%, inflation has been trending down which could lead to further cuts in the future.
While no one has a crystal ball, assuming these trends continue, mortgage rates will likely drop in BC as 2024 progresses.
The best way to find the lowest mortgage rate in British Columbia is by comparing rates from different mortgage providers. Lowestrates.ca helps you compare quotes from 50+ mortgage providers across Canada. The rates depend on the Bank of Canada’s overnight rate, your choice of mortgage type and some other factors as well. A rate comparison site like Lowestrates.ca or a mortgage broker can help you identify the rate best suited for your financial situation.
Having a good credit score is critical. The Canada Mortgage and Housing Corporation says the credit score requirement on insured mortgages should be 680.
Other factors you should have in order can include:
Paying down debt – This can accomplish a few things. Paying debt frees up resources to put toward your downpayment or mortgage. It also indicates to lenders that you are a "good risk" and have the ability (and desire) to pay loans responsibly.
Calculating assets and liabilities – If knowledge is power, understanding your economic situation will help you obtain the mortgage you need. By having a complete picture of assets and liabilities, you will be better prepared to provide the information lenders require to decide on your mortgage application. This can be done with an accountant if you have one or on your own.
Having a consistent employment history – Lenders want to see elements of your financial life that reduce risk. Being employed consistently indicates your ability to be financially responsible. This will show lenders that you can pay your debts with little to no chance of default.
Having a large downpayment - The more you save towards the purchase of a house, the better you will be in the long run in terms of debt burdens. However, lenders also see this as a lower-risk proposition. The less you need to borrow, the quicker they can get their money back if you default on the loan. Monthly costs are reduced for you, and you look more attractive to lenders who are about reducing risk.
Having good ratios - Most importantly, you must prove you can carry the mortgage. This is calculated by your broker or mortgage agent using a debt service ratio analysis.
Unlike a bank, a mortgage broker can only offer mortgages from their line of products. They can access many lenders and help you choose the right product for your circumstance. The good news is that mortgage brokers are free to use and are paid by the lender while also having access to a variety of lender interest rates. LowestRates.ca can help you navigate and compare rates and direct you to the broker that best suits your B.C. mortgage rate needs.
Purchasing a home in B.C. comes with a myriad of decisions. Once the location has been selected, and the choice between fixed or variable mortgages has been decided, buyers will want to consider their options between an open or closed mortgage.
Open mortgage: An open mortgage allows you to pre-pay any amount of your mortgage at any time without penalty. Interest rates are typically higher than closed mortgage rates in B.C. These mortgages provide flexibility and freedom to pay what they want, and terms are generally shorter.
Closed mortgage: Closed mortgages usually have lower interest rates than open ones. This is mainly because closed ones limit the number of extra payments you can make each year.
Both have pros and cons. While open mortgages are more flexible in terms of prepayment, they usually have higher interest rates.
Closed mortgages, on the other hand, have lower interest rates because you are paying regularly but have high prepayment penalties and have fees if you need to move your mortgage before the term is up.
It’s up to you to decide which option works best.
The cost of living in British Columbia can be as diverse as the many regions within the province. Expenses will fluctuate depending on whether you rent or own your home, drive or commute to work, and which part of the province you settle in.
For example, Vancouver is one of the most expensive cities in Canada to live in, and it is difficult for new homebuyers to break into the city's housing market. However, outside city limits and into more rural areas, homebuyers may find they can buy more with less and keep living costs of living down within less populated areas.
One of the most significant expenses in B.C. is the cost of car insurance. The Insurance Bureau of Canada says that B.C. has the highest rates in Canada, second only to Ontario.
B.C. is also very attractive for its temporal climate and boasts a healthy retirement population, especially in Victoria. Tourism and trade are also essential to B.C.'s economy, making it a relatively expensive destination for residents and visitors.
B.C. is an expensive destination for both first-time and seasoned homebuyers. Larger cities have seen substantial increases in home prices in just one year. Finding the best mortgage rates in B.C. is paramount, but it’s not the only way to ensure the affordability of your mortgage. Other features can help, including:
From a basis point calculation, there is a big difference in your mortgage depending on they are charged to you. One basis point is one one-hundredth of a percentage point. This is equal to 0.01% or 0.0001. For example, a 25 basis points increase is equal to 0.25%.
So, say you have a mortgage with an interest rate of 5%, and there is a 25-basis point increase; your new interest rate will be 5.25% (5 + 0.25 = 5.25). If the rate were to decrease by 25 basis points, your new interest rate would be 4.75% (5 – 0.25 = 4.75).
For instance, considering the average mortgage loan in B.C. for Q4 2023 was $450,000, and based on 3-year fixed insured mortgage rate (as of August 8, 2024) of 4.59% the monthly morgtage payment would be $2,666. This amounts to $95,976 mortgage payed in 3 years. If the bank posted 3-year fixed mortgage rate (RBC rate as of August 8, 2024) of 5.19% is applied to the same mortgage amount, the monthly payment would be $2,513, amounting to $90,468 in three years. That would be a total difference of $5,508 in three years duration.
Prepayment privileges: Some lenders will offer prepayment privileges, giving the homebuyer the right to pay off part or all of their mortgage balance before maturity (ahead of schedule) without penalties. Substantial savings can be had by saving on future interest payments.
Penalties for breaking a mortgage: Some lenders will charge a fee if you pay more than the allowed additional amount on your mortgage, break your contract, transfer your mortgage to another lender before the end of your term, and pay back your entire mortgage before the end of the term. Avoiding these events will prevent extra fees, but homeowners should calculate the pros of breaking a contract to get a better rate or paying the mortgage in full.
Porting your mortgage: People often move house before the mortgage is paid off. Porting your mortgage means taking your existing mortgage, with its current rate and terms, and attaching it to your new home. Porting can generally occur if you are purchasing a new home at the same time you are selling your current home. This can help save on penalties and fees in the future.
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 also becoming increasingly common for Canadians to apply for mortgages online. LowestRates.ca takes care of the heavy lifting by comparing the market for you and can connect you with the best mortgage lenders in British Columbia and across the country.
We only work with reputable, trustworthy financial institutions. Your credit score won’t be affected, and your information is secure.
We have a robust selection of lenders on LowestRates.ca, including big banks and many independent brokers, and we’re always adding more lenders. This ensures we consistently deliver competitive rates to you. 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.
Mortgage rates in B.C. can fluctuate depending on population size, home styles, neighborhood values and other reasons. Simply put, greater competitive pressure in Canada's hottest real estate markets (especially Vancouver and Toronto) translates into cheaper mortgage rates. Ontario is the most competitive by a long shot, with 113 lenders publicly advertising mortgage rates (not including brokers).
Also, different lenders have different overhead costs they have to consider. They also have to consider the borrower's financial situation, including their debt-to-income ratio, credit score and down payment. To find the best mortgage rate, you need to find the right lender through sites like LowestRates.ca.
Shivani Kaul
About the Author
Shivani Kaul is a content manager in the personal finance space. Prior to this, she worked as a digital editor with Pagemasters North America (a division of The Canadian Press) for four years. Shivani has also worked as a freelance writer and editor for Investor's Digest of Canada and The Ghost Bureau.
She has more than a decade of experience working as an editor and writer for different news media organizations in Canada and South Asia. She has a Digital Marketing Management certification from the University of Toronto, a Master's degree in Mass Communication (Journalism) and a Bachelor's degree in English from the University of Delhi (India).
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