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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 Drummondville 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 Drummondville and beyond. During competitive market conditions, lenders may offer better rates. Shopping around and comparing multiple lenders — including local Quebec credit unions like Caisse Alliance — can often result in a better mortgage rate.
There are several factors lenders use to calculate your Drummondville mortgage rate. Lenders will take a look at each of these factors when determining the size of the mortgage and the rate that a borrower qualifies for. These include down payment, debt service ratio, credit score, and income.
1. Down payment
The size of your down payment will determine whether or not you qualify for a mortgage. The minimum down payment required to purchase a home in Canada is 5% of a home’s purchase price. So, for example, a $400,000 home requires a down payment of at least $20,000.
A borrower can put as much down toward a home as they’d like, but there are minimum requirements based on property price:
2. Debt service ratios
Debt service ratio is a percentage calculated by lenders to determine whether or not they believe a borrower can afford a mortgage. Debt service ratios comprise two different calculations: A borrower’s gross debt service ratio, and total debt service ratio. Both of those must fall below set thresholds to qualify for a mortgage loan in Drummondville.
3. Credit score
As soon as you open up their first line of credit, such as a credit card, you’re assigned a score. Your credit score can go up or down based on how you manage your credit. Paying off debt in a timely fashion, having a lengthy credit history, ensuring you aren’t always at your credit limits are good ways to ensure you have a high credit score.
Having a good credit score is a good way to ensure you can qualify for the best mortgage rates in Drummondville Canada. Credit scores Canada range from 300-900. A score between 660 and 724 is considered good; a score between 725 and 759 is considered very good; and a score between 760 and 900 is considered excellent. The higher your score, the better your chances of qualifying for the most competitive mortgage interest rates in Drummondville.
4. Income and employment
Finally, income is another factor lenders use to determine if a borrower qualifies for the lowest mortgage interest rates in Drummondville. The higher a borrower’s income, the higher the amount of mortgage they can borrow. Lenders also want to know how long you’ve been at your job, and whether you’re employed full time, part time, seasonally or casually. Lenders typically require at least two years’ worth of proof of income, typically in the form of tax documents, such as T4s. A mortgage broker can tell you exactly which documents are required during the qualification process.
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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 4.38%. That’s 5 bps above the average high-ratio 5-year fixed rate, which stands at 4.33%.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 09/25 | 4.53% | 4.44% |
| 10/25 | 4.49% | 4.36% |
| 11/25 | 4.38% | 4.33% |
| 12/25 | 4.48% | 4.35% |
| 01/26 | 4.59% | 4.53% |
| 02/26 | 4.55% | 4.53% |
| 03/26 | 4.34% | 4.32% |
| 04/26 | 4.32% | 4.28% |
| 05/26 | 4.36% | 4.21% |
| 06/26 | 4.38% | 4.19% |
| 07/26 | 4.37% | 4.13% |
| 08/26 | 4.39% | 4.08% |
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 4.65%. That’s 21 bps above the 5-year variable rate, which stands at 4.44%.
| Month | Fixed | Variable |
|---|---|---|
| 09/25 | 4.62% | 4.69% |
| 10/25 | 4.64% | 4.55% |
| 11/25 | 4.65% | 4.44% |
| 12/25 | 4.67% | 4.44% |
| 01/26 | 4.73% | 4.47% |
| 02/26 | 4.67% | 4.44% |
| 03/26 | 4.44% | 4.40% |
| 04/26 | 4.40% | 4.06% |
| 05/26 | 4.34% | 3.90% |
| 06/26 | 4.34% | 3.85% |
| 07/26 | 4.27% | 3.83% |
| 08/26 | 4.26% | 3.81% |
Last Updated: September 1, 2026
New mortgage loan values have been trending upward throughout 2025, reaching the average of $245,388 in Quebec and $360,597 in Canada by the end of Q4 2025.
Here are all the average new mortgages loan values in Quebec 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 |
| Quebec | $224,873 | $228,576 | $237,519 | $206,201 | $202,014 | $193,800 | $211,995 | $202,079 | $198,810 | $213,730 | $231,269 | $221,516 | $233,181 | $239,953 | $254,499 | $245,388 |
Scheduled monthly payments have been trending downward throughout 2025, reaching the average of $1,431 in Quebec 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1,096 | $1,151 | $1,266 | $1,239 | $1,274 | $1,221 | $1,331 | $1,338 | $1,340 | $1,377 | $1,447 | $1,355 | $1,405 | $1,410 | $1,474 | $1,431 |
New homebuyers are sometimes surprised to find out there are other costs when buying a property. These are called closing costs and they’re typically an additional 3% or 4% of the purchase price.
Some of the most common closing costs include:
Land transfer tax calculations for a $500,000 property in Drummondville without a rebate are:
Mortgage term and amortization period are two important measures of time to consider when looking for current mortgage rates in Drummondville.
A mortgage term is the amount of time a borrower agrees to pay a specific rate. For example, a borrower who signs a contract for a five-year fixed rate at 2% agrees to pay that specific rate for five years.
An amortization period is the entire lifecycle of a mortgage. When choosing one of today’s mortgage rates in Drummondville, you’ll also have to choose an amortization period. They typically run 25 to 30 years. A longer amortization period consists of several mortgage terms.
When doing a mortgage rates comparison in Drummondville, it’s important to consider other factors in addition to getting the lowest interest rate. Mortgage lenders in Drummondville offer both open and closed mortgages, and the one a borrower chooses is a matter of preference.
Open mortgages allow the borrower to make additional mortgage payments, called prepayments, over and above their regular payments without penalty. Open mortgages are a great option for people who would like to pay off their mortgage faster.
Closed mortgages, on the other hand, have a set amount of prepayments that are allowed — some closed mortgages don’t allow any type of prepayments at all without incurring financial penalties. While they are less flexible than open mortgages, closed mortgages typically come with lower mortgage rates.
If you’re on the hunt for home mortgage rates in Drummondville, you’re likely looking for the lowest possible interest rate. That’s important to ensure you’re paying the lowest possible monthly mortgage costs. However, a good rate is only one aspect of the perfect mortgage. There are some other factors to consider as well, including prepayment privileges, penalties and portability.
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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