The best mortgage rates in Quebec? Get ‘em right here!

Find the best rate in just seconds.

Best Variable Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Variable Closed
Rate 2.70%
Best Fixed Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Fixed Closed
Rate 2.59%
True North Mortgage

True North Mortgage

Term 2 Year
Type Fixed Closed
Rate 2.74%
True North Mortgage

True North Mortgage

Term 3 Year
Type Fixed Closed
Rate 2.74%
True North Mortgage

True North Mortgage

Term 4 Year
Type Fixed Closed
Rate 2.79%
BMO Bank of Montreal

BMO Bank of Montreal

Term 5 Year
Type Fixed Closed
Rate 2.87%
Scotiabank

Scotiabank

Term 5 Year
Type Fixed Closed
Rate 5.19%
BMO Bank of Montreal

BMO Bank of Montreal

Term 3 Year
Type Fixed Closed
Rate 2.89%
BMO Bank of Montreal

BMO Bank of Montreal

Term 4 Year
Type Fixed Closed
Rate 3.09%

Compare mortgage rates in Quebec.

Ready to compare mortgage rates in Quebec? LowestRates.ca allows you to find and compare the best rates from all the top mortgage brokers and banks in la belle province. Our service is free to use and there’s no obligation of any kind — just the lowest mortgage rates in Quebec on any given day, just like that.

Lower rates = bigger savings.

Getting a better mortgage rate could have huge implications for your finances. Even a small difference in rates can add up over time, and a big difference can equal thousands or even hundreds of thousands of dollars.

In Quebec, the gap between the best mortgage rates and rates posted by the bank can be remarkably wide — our 5-year fixed rates in Quebec average under 2.5% while bank rates are over 4.5%. On a $400,000 mortgage, that difference in rates would result in more than $100,000 of savings over the life of your loan.

On average, LR.ca rates are more than 2 full percentage points lower than posted bank rates.On a $400,000 mortgage that’s an average savings of:

$426 Per Month
$5,114 Per Year
$127,862 In a Lifetime

5-year fixed mortgage rate from LowestRates.ca in Quebec vs 5-year bank rate

MonthAverage LR.ca 5-year fixed rateAverage bank 5-year fixed rate
02/183.14%5.14%
03/183.14%5.14%
04/183.23%5.14%
05/183.25%5.34%
06/183.14%5.34%
07/183.29%5.34%
08/183.19%5.34%
09/183.19%5.34%
10/183.24%5.34%
11/183.32%5.34%
12/183.39%5.34%
01/193.39%5.34%

Variable or fixed: which is lower?

How do the best variable rates stack up against the best fixed rates? We compared LR.ca 5-year fixed rate mortgages and LR.ca 5-year variable rate mortgages in Quebec, tracking the average rates users have applied for on our site since 2014. It’s no surprise that our variable rates are almost half a percentage point lower, resulting in savings of over $100 per month for a borrower with a $400,000 mortgage.

On average, variable rates are almost half a percentage point lower than fixed rates.On a $400,000 mortgage that’s an average savings of:

$135 Per Month
$1,615 Per Year
$40,369 In a Lifetime

5-year fixed mortgage rate in Quebec vs 5-year variable rate from LowestRates.ca

MonthAverage LR.ca 5-year fixed rateAverage LR.ca 5-year variable rate
02/183.14%2.3%
03/183.14%2.21%
04/183.23%2.21%
05/183.25%2.21%
06/183.14%2.21%
07/183.29%2.34%
08/183.19%2.46%
09/183.19%2.46%
10/183.24%2.52%
11/183.32%2.71%
12/183.39%2.71%
01/193.39%2.73%

Focus On

Quebec housing.

Slow growth in Quebec’s manufacturing, construction, and utilities industries have forced experts to revise down their original forecasts for a much stronger Quebec economy in 2016. House prices in the province remain flat and will likely not see significant increases this year or next.

That’s good news for buyers — with the average resale price of a home below $300,000, housing in Quebec is more affordable than in many other parts of Canada.

Resale Home Prices in Quebec

 QuebecCanada
2013 Q1$275,843$367,382
2013 Q2$268,700$372,775
2013 Q3$267,748$388,651
2013 Q4$260,000$381,900
2014 Q1$269,171$399,945
2014 Q2$270,714$402,605
2014 Q3$270,969$409,388
2014 Q4$275,021$416,410
2015 Q1$272,735$425,062
2015 Q2$274,202$438,866
2015 Q3 (F)$274,200$445,000
2015 Q4 (F)$274,500$438,200
2016 Q1 (F)$276,000$440,800
2016 Q2 (F)$278,000$441,800

Whether you’re looking for a two-storey home or a condominium, property prices in Quebec seem like a bargain, especially compared to the Ontario and BC markets.

Two-Storey Home and Condo Prices by Province

ProvinceTwo StoreyCondo
British Columbia$749,500$319,400
Alberta$405,000$255,100
Saskatchewan$384,500$246,100
Manitoba$322,600$207,500
Ontario$528,900$280,800
Québec$323,700$201,400
Canadian Average$466,100$254,800

Your Quebec mortgage questions, answered.

Variable or fixed: which is more popular?

Quebec borrowers surprised us, and between 2014 and early 2016, fixed rates were far more popular than variable rates. But a new trend is emerging: more than half of borrowers are choosing variable rates over fixed rates now.

5-Year Fixed Rates vs. 5-Year Variable Rates in Quebec: Who Takes What?✝

of Quebec borrowers apply for 5-year variable mortgages
54%
of Quebec borrowers apply for 5-year fixed mortgages
46%

✝Based on Canadian borrowers who applied for a mortgage at LowestRates.ca since 2014.

About Quebec

As a majority francophone province, Quebec occupies a special place in the Canadian national fabric. It's also a strong contributor to the Canadian economy, with substantial natural resources and an expanding information technology sector. Meanwhile, tourists and residents might easily find themselves caught up in the province's old world charm and 'joie de vivre.' Long known for its charming, urbane cities, rugged mountains and lush farmland, Quebec is also imbued with a great sense of history and anyone who has been to Quebec City or Montreal will sense that these were some of the first outposts of the New World.

Mortgage news

Read More Like This