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Check out today's best mortgage rates in Canada by type and term.
| Insured ? | 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 ? | Bank Rate ? | ||
|---|---|---|---|---|---|---|
Insured 4.64% | 80% LTV 4.19% | 65% LTV 4.19% | Uninsured 4.99% | 4.99% | ||
Insured 3.99% | 80% LTV 3.89% | 65% LTV 3.89% | Uninsured 4.44% | 4.53% | ||
Insured 3.69% | 80% LTV 3.79% | 65% LTV 3.79% | Uninsured 3.9% | 4.39% | ||
Insured 3.84% | 80% LTV 3.99% | 65% LTV 3.99% | Uninsured 4.39% | 4.44% | ||
Insured 3.69% | 80% LTV 3.55% | 65% LTV 3.55% | Uninsured 3.69% | 4.19% | ||
Insured 4.19% | 80% LTV 4.24% | 65% LTV 4.24% | Uninsured 4.89% | 5% | ||
Insured 5.04% | 80% LTV 4.34% | 65% LTV 4.34% | Uninsured 5.24% | 6.09% | ||
Insured 3.9% | 80% LTV 3.95% | 65% LTV 3.9% | Uninsured 3.9% | 5.95% | ||
Insured 3.45% | 80% LTV 3.45% | 65% LTV 3.45% | Uninsured 3.5% | 4.24% | ||
Insured N/A | 80% LTV N/A | 65% LTV N/A | Uninsured N/A | N/A | ||
Insured 5.45% | 80% LTV 5.45% | 65% LTV 5.45% | Uninsured 5.5% | N/A |
There are three main drivers behind mortgage rates in Saint-Jérôme and Canada at large:
The Bank of Canada influences mortgage rates through its policy rate. The Bank’s objective is to keep inflation in the target range of 1% to 3% and preserve the value of the Canadian dollar. It achieves this by setting the target overnight rate, also known as the policy rate.
As of today, the policy rate is 2.25%. The central bank uses the target rate to influence how the banks set their own rates and acts as a barometer for the rate at which banks borrow and lend among themselves.
The higher the inflation, particularly if it’s above 3%, the higher the likelihood of a rate hike. Though inflation does not directly affect mortgage rates, the Bank tends to raise rates to cool down economic activity and force homebuyers to retreat from the market. It’s worth noting that government bond yields, which influence fixed rates, are affected by inflation as well, in addition to factors like oil prices, geopolitical tensions and broader economic conditions (which currently remain uncertain).
Banks, credit unions, monoline lenders and other financial institutions compete to attract borrowers across Saint-Jérôme and beyond. During competitive market conditions, lenders may offer better rates. Shopping around and comparing multiple lenders — including local Caisse Alliance — can often result in a better mortgage rate.
As you set out in search for the lowest mortgage rates in Saint-Jérôme, let’s paint a picture of the world you’re entering. Understanding these basic factors will help you wade through bank or broker mortgage rates in Saint-Jérôme.
1. Down payment
The main point here is that you’ll certainly need some type of down payment — the larger your down payment, the smaller your mortgage balance. While there is a loophole that exists, the government prohibited 0% down payment mortgages as of 2008. It was designed to protect Canada from the disaster that occurred in the United States with subprime mortgages. Keep in mind that you may also need mortgage default insurance, depending on the size of your down payment.
The government sets out how much of a down payment you need, depending on the price of the home:
2. Debt service ratios
By giving you money, the best mortgage lenders in Saint-Jérôme are taking a bet on you. They want to have confidence that you will be able to pay back the money they lend you. Debt service ratios are a way of calculating your ability to pay off the mortgage, based on your income vs. the costs you have on your plate. Lenders look at two types of debt service ratios (see below).
3. Credit score
Your credit score matters when it comes to a lot of financial aspects of your life, including purchasing a home. Credit scores range from 300 to 900 in Canada. Your credit score and report reflect your borrowing history when it comes to things like personal loans, lines of credit and credit cards. Lenders want to see that you exhibit responsibility with your credit. Do you make your payments on time? Are your credit cards always on the edge of being maxed out? In general, lenders are looking to see that you are borrowing less than 20% to 30% of your available credit limit. Your credit score will influence the mortgage rates in Saint-Jérôme you qualify for.
4. Income and employment
Before they offer you mortgage interest rates for that Saint-Jérôme pad, lenders want to see that you bring in money on a regular basis, and that your employment is dependable. They won’t assess all work equally. Full-time work versus part time work; seasonal or contract; length of employment — these are all factors that matter. You’ll also need to include income generated from investment properties. Keep in mind that self-employed people will have to provide additional documentation that can substantiate your earnings.
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How do these mortgage types differ? Conventional (low-ratio) mortgage requires a down payment of 20% or more, with no mandatory insurance, while a high-ratio mortgage requires a down payment of below 20%, plus mandatory insurance.
Which mortgage type offers cheaper rates? As of September 2026, the average conventional 5-year fixed rate is 4.39%. That’s 31 bps above the average high-ratio 5-year fixed rate, which stands at 4.08%.
| Date | Average Conventional Rate | Average High Ratio Rate |
|---|---|---|
| 09/25 | 4.53% | 4.44% |
| 10/25 | 4.49% | 4.36% |
| 11/25 | 4.38% | 4.33% |
| 12/25 | 4.48% | 4.35% |
| 01/26 | 4.59% | 4.53% |
| 02/26 | 4.55% | 4.53% |
| 03/26 | 4.34% | 4.32% |
| 04/26 | 4.32% | 4.28% |
| 05/26 | 4.36% | 4.21% |
| 06/26 | 4.38% | 4.19% |
| 07/26 | 4.37% | 4.13% |
| 08/26 | 4.39% | 4.08% |
Last Updated: September 1, 2026
How do these mortgage rates differ? A fixed rate mortgage is a rate fixed over a period of time. Interest rates and the mortgage payments remain the same (and consistent) over that mortgage term. A variable rate mortgage is different. While the mortgage payment remains constant, the interest rate payments fluctuate with the prime interest rate.
Which rate is cheaper? As of September 2026, the 5-year fixed rate is 4.26%. That’s 45 bps above the 5-year variable rate, which stands at 3.81%.
| Month | Fixed | Variable |
|---|---|---|
| 09/25 | 4.62% | 4.69% |
| 10/25 | 4.64% | 4.55% |
| 11/25 | 4.65% | 4.44% |
| 12/25 | 4.67% | 4.44% |
| 01/26 | 4.73% | 4.47% |
| 02/26 | 4.67% | 4.44% |
| 03/26 | 4.44% | 4.40% |
| 04/26 | 4.40% | 4.06% |
| 05/26 | 4.34% | 3.90% |
| 06/26 | 4.34% | 3.85% |
| 07/26 | 4.27% | 3.83% |
| 08/26 | 4.26% | 3.81% |
Last Updated: September 1, 2026
New mortgage loan values have been trending upward throughout 2025, reaching the average of $245,388 in Quebec and $360,597 in Canada by the end of Q4 2025.
Here are all the average new mortgages loan values in Quebec from 2022 to 2025:
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canada | $368,936 | $371,063 | $363,654 | $325,612 | $320,298 | $314,540 | $338,522 | $327,899 | $323,537 | $332,825 | $349,364 | $343,271 | $356,831 | $350,281 | $360,986 | $360,597 |
| Quebec | $224,873 | $228,576 | $237,519 | $206,201 | $202,014 | $193,800 | $211,995 | $202,079 | $198,810 | $213,730 | $231,269 | $221,516 | $233,181 | $239,953 | $254,499 | $245,388 |
Scheduled monthly payments have been trending downward throughout 2025, reaching the average of $1,431 in Quebec by the end of Q4 2025.
| Q1 – 2022 | Q2 – 2022 | Q3 – 2022 | Q4 – 2022 | Q1 – 2023 | Q2 – 2023 | Q3 – 2023 | Q4 – 2023 | Q1 – 2024 | Q2 – 2024 | Q3 – 2024 | Q4 – 2024 | Q1 – 2025 | Q2 – 2025 | Q3 – 2025 | Q4 – 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1,096 | $1,151 | $1,266 | $1,239 | $1,274 | $1,221 | $1,331 | $1,338 | $1,340 | $1,377 | $1,447 | $1,355 | $1,405 | $1,410 | $1,474 | $1,431 |
New homebuyers are sometimes surprised to find out there are other costs when buying a property. These are called closing costs and they’re typically an additional 3% or 4% of the purchase price.
Some of the most common closing costs include:
Land transfer tax calculations for a $500,000 property in Saint-Jérôme without a rebate are:
The amortization period is the entire time it will take you to pay off the money lenders give you to purchase a property. It’s a crucial figure in terms of calculating your monthly payments. Most home loans in Canada have a 25-year amortization period.
The mortgage term is the period of time you’re locked into your contract. During the term, you’re locked into the terms and conditions laid out in your mortgage contract, including the interest rate.
Here’s how the amortization period and mortgage terms work together: You agree to pay a certain amount of interest, be it variable or fixed, for a certain amount of years — the mortgage term. Mortgage terms can range from six months to 10 years, so you’ll have several terms within a longer amortization period. By the end of the amortization period — 25 years, for example — you will have cleared your debt.
An open mortgage gives you more freedom to make additional or accelerated mortgage payments. A closed one does not. This matters if you want to be able to control how quickly you pay down your debt. Depending on the terms of your open mortgage, you will have the ability to increase monthly payments, or apply bigger chunks on the principle, all at once.
Closed mortgages, as the name suggests, don’t give you that flexibility. They may even penalize you for clearing your debts quicker, because the lender had expected to make a certain amount of money by charging you interest over a certain amount of time. You mess with that plan, and you will have to pay.
Securing the lowest mortgage interest rate in Saint-Jérôme matters, but there are other factors to consider before signing on the dotted line. Let’s talk about pre-payment privileges and portability.
Pre-payment is the ability to pay off more of your mortgage at a time of your choosing. Open mortgages allow you to do that, without penalty. Closed mortgages will charge you for speeding up the rate at which you pay off your loan. If you think you might not be in your house for the long haul, or if you want the flexibility to get out of the contract, this is something to keep in mind.
Similarly, the portability of a mortgage will allow you to transfer your existing mortgage to another property, without paying penalties. Not all mortgage companies in Saint-Jérôme will allow you to port your mortgage, so ask them about that. Flexibility may be worth paying extra for.
LowestRates.ca works with top banks and brokers to bring you competitive mortgage rates from lenders in Canada. All you have to do is answer a few questions, and in minutes you’ll be provided with today’s mortgage rates for Saint-Jérôme. There’s no obligation, but you can choose to speak with our broker partner to secure your best rate and see if you're eligible for more savings.
Yes, it’s safe — you no longer need to visit a bank branch or mortgage broker’s office in person to apply for a mortgage. It’s becoming increasingly common for Canadians to apply for mortgages online. LowestRates.ca only works with reputable, trustworthy financial institutions. Your credit score won’t be affected and your information is secure. We don’t share your information with anyone unless you want to connect with a mortgage broker. We take care of the heavy lifting by comparing the market for you and can connect you with the best mortgage lenders in the country.
We have a strong selection of lenders on LowestRates.ca including the big banks and many independent providers, and we’re adding more lenders all the time. This ensures we’re always delivering you a competitive rate. Even if you’re not ready to commit to anything, you can use our site as a starting point for research (it’s totally free, and you’re under no obligation).
The better informed you are, the more likely you'll negotiate a better deal for yourself. And, really, that’s what we care about the most.
Taras Trofimov
About the Author
Taras is the Content Manager for LowestRates.ca. He has produced thought leadership content for organizations like Constellation Software, Facebook and Yellow Pages as well as outlets like The Globe and Mail, Autoblog and MSN Autos.
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