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Compare mortgage rates in Montreal.

Montreal is Canada’s second most populated city, but it still has one of the most affordable urban housing markets in the country, and some of the lowest mortgage rates. At, we help you find the most competitive mortgage offers in the city — free of charge and with no obligation.

Variable or fixed: which is lower?

One of the most important decisions Montreal borrowers will make is whether to choose a variable rate or a fixed rate mortgage. We compared the 5-year variable and the 5-year fixed rates that have been available on our site (and taken by our users) since the start of 2019. Our findings? While there has been some fluctuation, variable rates are just a bit lower than fixed rates.

5-year fixed mortgage rates vs. 5-year variable mortgage rates in Quebec


Last Updated: October 7th, 2020

Focus On

Montreal housing.

Housing activity in Montreal has remained relatively subdued in recent years. Prices for both homes and condos have seen only modest increases lately, and realtors characterize real estate in the city as ‘stuck in neutral’ between a buyer’s and a seller’s market.

But for now, Montreal stands out as a bargain, with the price of a single-detached home averaging just above $400,000 – one of the lowest average prices for any major Canadian city.

Average residential home prices by city


Last Updated: October 7th, 2020

Average home prices in Montreal follow a pattern lately: prices gradually increase throughout 2019 and continue this trend in 2020.. Will it continue on in 2021? Only time will tell.

Single-detached Home Prices in Montreal.

DateHome Prices
Aug 2019$379,800
Sep 2019$386,800
Oct 2019$391,500
Nov 2019$393,500
Dec 2019$392,200
Jan 2020$404,400
Feb 2020$410,500
Mar 2020$416,200
Apr 2020$415,600
May 2020$417,800
Jun 2020$426,600
Jul 2020$438,200
Aug 2020$447,100

Last Updated: October 7th, 2020

The new home market in Montreal is still the least expensive of Canada’s major cities. Currently averaging about $450,000, Montreal’s new homes seem like a bargain compared to those in Toronto, Vancouver, or even Calgary.

Average apartment and townhouse prices Prices in Montreal

Aug 2019$276,500$372,300
Sep 2019$284,300$394,200
Oct 2019$288,500$383,100
Nov 2019$288,700$384,600
Dec 2019$295,600$389,800
Jan 2020$297,800$399,400
Feb 2020$302,900$391,100
Mar 2020$310,200$395,600
Apr 2020$308,500$399,000
May 2020$309,900$402,100
Jun 2020$312,100$412,800
Jul 2020$316,900$411,100
Aug 2020$317,400$417,800

Last Updated: October 7th, 2020

Your Montreal mortgage questions, answered.

Variable or fixed: which is best?

Variable rates are slightly lower than fixed rates in Montreal, a trend we’ve seen in other Canadian cities as well. However, which one you choose will depend largely on your risk tolerance as well. Lucky for you, fixed and variable rates have almost been equal on since 2019 (equally low!), which means that you’ll get a great deal no matter which rate structure you choose.

About Montreal

Visitors and residents agree: it's hard not to love Montreal. This elegant island metropolis is known around the world for its European ambiance, rich cultural heritage and big city charms. Legitimately bilingual, Montrealers can be heard conversing in both French and English and the city serves as a crossroads for people from around the globe, with particularly strong Arab, African, and South Asian communities.

Montreal is also the site of four separate universities, giving it the highest concentration of post-secondary students of any major city in North America, and imbuing its streets with a youthful, vibrant feel. The city is home to one of the Original Six teams of the NHL, the Canadiens, and recently added a Major League soccer team, the Impact, to its roster of pro sports franchises.

Visitors and residents alike can find art and music festivals in the city year-round, with the Montreal Jazz Festival being perhaps the most famous annual event.

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