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The best current mortgage rates in Canada

Check out today's best mortgage rates in Canada by type and term.

Rates are based on an average mortgage of $300,000

	Insured ? The rates in this column apply to borrowers who have purchased mortgage default insurance. This is required when you purchase a home with less than a 20% down payment. The home must be owner-occupied and the amortization must be 25 years or less.	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 ? The rates in this column apply to purchases over $1 million, refinances and amortizations over 25 years. More info on the differences between insured and uninsured rates.	Bank Rate ? Bank Rate is the mortgage interest rate posted by the big banks in Canada.
1-year fixed rate	Insured 4.64%	80% LTV 4.19%	65% LTV 4.19%	Uninsured 4.99%	4.99%
2-year fixed rate	Insured 3.99%	80% LTV 3.89%	65% LTV 3.89%	Uninsured 4.44%	4.53%
3-year fixed rate	Insured 3.69%	80% LTV 3.79%	65% LTV 3.79%	Uninsured 3.9%	4.39%
4-year fixed rate	Insured 3.84%	80% LTV 3.99%	65% LTV 3.99%	Uninsured 4.39%	4.44%
5-year fixed rate	Insured 3.69%	80% LTV 3.55%	65% LTV 3.55%	Uninsured 3.69%	4.19%
7-year fixed rate	Insured 4.19%	80% LTV 4.24%	65% LTV 4.24%	Uninsured 4.89%	5%
10-year fixed rate	Insured 5.04%	80% LTV 4.34%	65% LTV 4.34%	Uninsured 5.24%	6.09%
3-year variable rate	Insured 3.9%	80% LTV 3.95%	65% LTV 3.9%	Uninsured 3.9%	5.95%
5-year variable rate	Insured 3.45%	80% LTV 3.45%	65% LTV 3.45%	Uninsured 3.5%	4.24%
HELOC rate	Insured N/A	80% LTV N/A	65% LTV N/A	Uninsured N/A	N/A
Stress test	Insured 5.45%	80% LTV 5.45%	65% LTV 5.45%	Uninsured 5.5%	N/A

About fixed closed mortgage rates.

Want the security of knowing your mortgage rates won’t increase anytime soon? Like the predictability of payments that stay the same every month? If you answered yes to both questions, then you’ll want a fixed closed mortgage.

Fixed closed mortgages bring you peace of mind: they're simple and easy to understand, and your rates stay the same for the duration of your selected term.

In today’s market, you'll find that fixed closed mortgages also offer remarkably low interest rates. And, as an added benefit of this type of mortgage, most lenders let you make yearly lump-sum payments, which means you can actually become mortgage-free ahead of schedule.

You can get started by selecting a fixed rate mortgage product from the rate chart above.