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Today’s lowest mortgage rates in:

6.05%

5-Year Variable

4.94%

5-Year Fixed

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What our users say:

February 17
The quick replies from John Khan at…
The quick replies from John Khan at Dominion Lending and his knowledge level and...
Rick D
February 16
Fast and easy good response
Fast and easy good response
Robert Burke
February 16
Great service
Great service
Waseem Akhter
February 15
Website is easy to use the…
Website is easy to use the representatives were so helpful, wasn't on hold long ...
Olivia
February 15
very easily approach for info and clear…
very easily approach for info and clear to understand
DANIEL HELDER
February 14
The person i talked made it easy she…
The person i talked made it easy she was easy to talk to she quick and i feel i ...
Calvin Shelley
February 13
very good and easy
very good and easy
Noel Tavas
February 10
The agent was very pleasant
The agent was very pleasant and thorough. She reviewed the important informatio...
Bernard Wrobleski
February 10
Finally service
Knowledgable friendly considerate and concerned
Rick D
February 9
Very fast
Very fast, efficient and helpful. I would not hesitate to recommend this company...
Anna Paquette
February 9
Friendly approach and talk and showing…
Friendly approach and talk and showing kindness and help.
Abdul Lodin
February 7
The agents i dealt with were amazing
The agents i dealt with were amazing! Thank you to Juliana & Alicia
Concetta Mastrangelo
February 7
Very Kind and Patient
Very kind all the way through. Took time to explain every step and were patient ...
Hunter Hughes
February 2
Easy to use and quick follow up
Easy to use and quick follow up. Thanks .
Terry Collins
January 31
Very pleasant to deal with.
Very pleasant to deal with.
Janet
January 31
Representative was extremely helpful…
Representative was extremely helpful and was able to assist in all our needs.
Laura Dunsford

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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
4.99%
80% LTV
4.99%
65% LTV
4.99%
Uninsured
6.59%
6.79%
 
2-year fixed rate
Insured
5.84%
80% LTV
5.49%
65% LTV
5.49%
Uninsured
5.94%
6.39%
 
3-year fixed rate
Insured
4.99%
80% LTV
5.14%
65% LTV
5.14%
Uninsured
5.09%
5.85%
 
4-year fixed rate
Insured
4.99%
80% LTV
5.04%
65% LTV
5.04%
Uninsured
5.09%
5.59%
 
5-year fixed rate
Insured
4.74%
80% LTV
5.04%
65% LTV
5.04%
Uninsured
5.04%
5.14%
 
7-year fixed rate
Insured
4.99%
80% LTV
5.29%
65% LTV
5.29%
Uninsured
5.24%
5.9%
 
10-year fixed rate
Insured
5.69%
80% LTV
5.89%
65% LTV
5.89%
Uninsured
5.89%
7.25%
 
3-year variable rate
Insured
6.1%
80% LTV
6.55%
65% LTV
6.55%
Uninsured
N/A
8.6%
 
5-year variable rate
Insured
5.9%
80% LTV
6.1%
65% LTV
6.1%
Uninsured
6.25%
6.59%
 
HELOC rate
Insured
7.2%
80% LTV
7.2%
65% LTV
7.2%
Uninsured
7.2%
N/A
 
Stress test
Insured
6.74%
80% LTV
6.99%
65% LTV
6.99%
Uninsured
5.25%
N/A

Variable Rates

As low as

6.05%

Fixed Rates

As low as

4.94%

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

Current lowest posted bank rate

7.49%

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
02/23 4.87%5.91%
03/23 4.95%5.95%
04/23 4.68%5.94%
05/23 4.63%5.80%
06/23 5.04%6.08%
07/23 5.34%6.41%
08/23 5.60%6.44%
09/23 5.80%6.53%
10/23 6.08%6.62%
11/23 5.98%6.66%
12/23 5.84%6.71%
01/24 5.37%6.49%

Last Updated: February 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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