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Today’s lowest mortgage rates in:

5.70%

5-Year Variable

4.69%

5-Year Fixed

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July 12
Excellent service
The lowest rates agent called me right after I finished the initial question and...
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July 7
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The name says it all, lowest rates available and very professional service. 5 st...
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July 5
The service I received today 7/4/24 was…
The service I received today 7/4/24 was amazing and swift.
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July 3
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Quick results, connected with a company in no time at all. Ended up doing busine...
Paul in Calgary
July 2
Prompt reply
Fare and competitive rate
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June 29
Savings
Saved me $300 a year
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June 29
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Amazing service, very quick response and helpful staff
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June 28
There was an instant offer and then…
There was an instant offer and then quick follow up.
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June 28
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The people I was dealing with were knowledgeable and very helpful
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June 27
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Guve us the best what we looking for
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June 27
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June 25
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June 24
He answered all my questions
He answered all my questions
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Mark was very helpful
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When you find the best quote, secure your Surrey mortgage rate by talking to a licensed broker or agent.

Compare mortgage rates in Surrey.

The hot Surrey housing market can be traced to one key factor: lower mortgage rates. Mortgage rates in Surrey are near record lows right now, and competition among lenders in the city — and in BC generally — has never been greater.

You can let those lenders compete for your business right here at LowestRates.ca. We’ll help you compare the best rates from the top brokers and banks in Surrey — just like that.

The best current mortgage rates in Canada

Check out today's best mortgage rates in Canada by type and term.

Rates are based on an average mortgage of $300,000
 Insured ?

The rates in this column apply to borrowers who have purchased mortgage default insurance. This is required when you purchase a home with less than a 20% down payment. The home must be owner-occupied and the amortization must be 25 years or less.

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 ?

The rates in this column apply to purchases over $1 million, refinances and amortizations over 25 years. More info on the differences between insured and uninsured rates.

Bank Rate ?

Bank Rate is the mortgage interest rate posted by the big banks in Canada.

 
1-year fixed rate
Insured
6.59%
80% LTV
5.6%
65% LTV
5.6%
Uninsured
7.35%
6.89%
 
2-year fixed rate
Insured
5.54%
80% LTV
5.14%
65% LTV
5.14%
Uninsured
5.84%
6.19%
 
3-year fixed rate
Insured
4.79%
80% LTV
4.79%
65% LTV
4.79%
Uninsured
5.04%
5.4%
 
4-year fixed rate
Insured
4.79%
80% LTV
4.84%
65% LTV
4.84%
Uninsured
4.99%
5.29%
 
5-year fixed rate
Insured
4.54%
80% LTV
4.69%
65% LTV
4.54%
Uninsured
4.54%
4.84%
 
7-year fixed rate
Insured
4.89%
80% LTV
5.29%
65% LTV
5.29%
Uninsured
5.64%
5.9%
 
10-year fixed rate
Insured
5.69%
80% LTV
5.84%
65% LTV
5.79%
Uninsured
5.79%
7.25%
 
3-year variable rate
Insured
6.05%
80% LTV
6.35%
65% LTV
6.05%
Uninsured
6.05%
8.35%
 
5-year variable rate
Insured
5.65%
80% LTV
5.8%
65% LTV
5.7%
Uninsured
5.7%
6.19%
 
HELOC rate
Insured
N/A
80% LTV
N/A
65% LTV
N/A
Uninsured
N/A
N/A
 
Stress test
Insured
5.25%
80% LTV
5.25%
65% LTV
5.25%
Uninsured
5.25%
N/A

Variable Rates

As low as

5.70%

Fixed Rates

As low as

4.69%

Cha-ching! Our rates are always lower than the posted bank rates.

Current lowest posted bank rate

7.24%

Variable or fixed: which is lower?

One of the most important decisions Surrey 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 vs. 5-year variable mortgage rates in British Columbia

MonthFixedVariable
07/23 5.33%6.41%
08/23 5.59%6.44%
09/23 5.79%6.53%
10/23 6.06%6.62%
11/23 5.96%6.66%
12/23 5.83%6.70%
01/24 5.36%6.49%
02/24 5.25%6.43%
03/24 5.14%6.52%
04/24 5.13%6.52%
05/24 5.14%6.53%
06/24 4.96%6.13%

Last Updated: July 1, 2024

Focus On

Surrey housing.

Surrey home prices rose steadily through 2019, a trend which has continued into 2020. Prices average above $1 million. This is fairly par for the course in major B.C. cities, as you can see below.

Single-detached family home prices in B.C. year-over-year

MonthSurreyVancouverVictoriaBurnaby
October, 2019$985,500$1,803,800$1,422,400$1,400,000
November, 2019$995,500$1,737,500$1,335,000$1,409,500
December, 2019$1,040,000$1,775,000$1,432,500$1,495,500
January, 2020$1,020,000$1,875,000$1,460,000$1,444,750
February, 2020$1,074,000$1,930,000$1,485,895$1,430,000
March, 2020$1,072,500$1,970,000$1,435,000$1,550,000
April, 2020$1,078,000$2,096,000$1,360,000$1,462,500
May, 2020$1,125,000$2,028,000$1,333,000$1,477,000
June, 2020$1,090,000$1,798,000$1,426,500$1,509,000
July, 2020$1,136,500$1,777,777$1,568,000$1,482,500
August, 2020$1,120,000$1,966,500$1,618,000$1,589,900

Last Updated: October 19th, 2020

Source: Zolo

About Surrey.

With a dynamic economy and well-planned neighbourhoods, Surrey is the second largest city in British Columbia and expected to outgrow Vancouver within 10 years.

Just 35 minutes from downtown Vancouver, Surrey is highly accessible and offers something for everyone: city life, outdoor life, and everything in between.

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