Best Variable Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Variable Closed
Rate 2.71%
Best Fixed Rate
True North Mortgage

True North Mortgage

Term 5 Year
Type Fixed Closed
Rate 3.39%
True North Mortgage

True North Mortgage

Term 1 Year
Type Fixed Closed
Rate 2.94%
BMO Bank of Montreal

BMO Bank of Montreal

Term 5 Year
Type Variable Closed
Rate 4.10%
True North Mortgage

True North Mortgage

Term 3 Year
Type Fixed Closed
Rate 3.29%
BMO Bank of Montreal

BMO Bank of Montreal

Term 6 Months
Type Fixed Closed
Rate 4.20%
BMO Bank of Montreal

BMO Bank of Montreal

Term 5 Year
Type Fixed Closed
Rate 3.69%
First National

First National

Term 5 Year
Type Fixed Closed
Rate 3.79%
Scotiabank

Scotiabank

Term 5 Year
Type Fixed Closed
Rate 5.44%

Quebec City mortgage rates

Shopping for a mortgage in Quebec City? You’re doing it at the right time. Mortgage rates are sitting at record lows, and competition among lenders in Quebec has never been greater. That’s why it’s so important to shop around for your mortgage rate at LowestRates.ca — we show you the best rates all in one place.

Quebec City housing

Despite falling mortgage rates and positive employment trends, the real estate market in Quebec City has been slow since 2013, and 2016 prices remained just as stagnant. First-time buyers have been the main drivers behind demand in the city, but average home prices still failed to reach the CMHC’s predictions for 2016. While the CMHC expected average prices to rise to $280,000, prices actually hovered around $270,000 all year.

The current outlook is that prices may actually decrease slightly in 2017.

Average Home Prices in Quebec City
Source: CMHC
$250k $300k Q1 2013Q2 2013Q3 2013Q4 2013Q1 2014Q2 2014Q3 2014Q4 2014Q1 2015Q2 2015Q3 2015Q4 2015Q1 2016Q2 2016Q3 2016 $270,239

New home prices have been fairly stable for the past five years in Quebec City. Buyers in the market for a brand new house are currently looking at an average cost of about $370,000, a very modest increase from 2015.

New Home Prices in Quebec City, Single-Detached
Source: CMHC
$0k $200k $400k 2011 2012 2013 2014 2015 2016 (F)

About Quebec City

As the capital of its namesake, Quebec City is the seat of political power in la belle province and an endearing centre of French Canadian culture. Founded in the 17th century, it’s one of the oldest cities in North America and its fortified city walls have garnered a UNESCO World Heritage Site distinction.

Quebec City is best-known for its ancient streetscapes and profound sense of history as Canada's first major European settlement. It’s one of the most popular tourist destinations in all of Canada, drawing thousands of visitors year-round, especially when Quebec Winter Carnival, an annual event held since 1955, kicks off.

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