Compare the best 4-year fixed mortgage rates for free.

A 4-year fixed-rate mortgage loan is a very specific mortgage product. It’s not very common in Canada; most people choose a 5-year fixed rate. Because five-year terms are more popular, you might find a better deal by choosing a 5-year fixed rate. They’re both similar in terms of length (they’re medium-term mortgage lengths) and they often have very comparable rates. A four-year term is probably the right option for someone who has exactly four years left on their mortgage. 

The best mortgage is one that fits a borrower’s individual needs. So, four-year mortgage terms aren’t necessarily better or worse than other mortgages. The best strategy is to find the perfect mix of mortgage term, rate, and features that fit your specific needs. That’s why it’s a great idea to compare mortgages and figure out what you value most in a mortgage. Comparing rates from different lenders on LowestRates.ca can help you figure that out, so you can make the best decision for your short- and long-term financial future.

A good mortgage rate is all about perspective. Since mortgage rates are constantly changing, what is considered good today might not be considered good tomorrow, or vice versa. Additionally, a good rate is in the eye of the beholder. Lenders use a number of factors to determine what rates to offer borrowers. To ensure you qualify for the best rate possible, you’ll want to have a good credit score, a sufficient down payment, good credit and debt history, a decent income and stable employment history.

Fixed rates are heavily influenced by Government of Canada bonds. Bonds are a safe investment type offered by banks that pay investors a set amount of money over time, until the end of the investment term when the principal investment is returned. Because of the safety of bonds, banks will use those profits to help fund their mortgages. Bond yields and fixed mortgage rates are related — when bond yields rise, fixed mortgage rates tend to rise as well.

To date, LowestRates.ca has helped our users save $1 billion in interest and fees. Even a decimal point in savings can save a mortgage borrower hundreds, or even thousands of dollars, a year. That’s why it’s important to compare mortgage rates to help you find the best deals available. It can save you tens of thousands of dollars over the lifetime of your mortgage.