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Compare mortgage rates in Trois-Rivières.

So you want to buy a home, and you’re looking for the best mortgage rates in Trois-Rivières from lenders across Canada, but you don’t know where to start. Stick with, and you’ll learn about different types of mortgages, what affects your rate, and much more.

We want to help you find the lowest mortgage interest rate in Trois-Rivières from the best mortgage lenders across Canada. Our goal is to help you discover current available mortgage rates in Trois-Rivières, Montreal, Québec City, or anywhere else in the country. Fun fact: Trois-Rivières is about the halfway mark between both cities in the province. allows you to compare mortgage rates from 50+ banks and brokers across Canada. Just scroll to the top of this page and tell us whether you’re buying a home, renewing or refinancing. Answer a few questions, and in three minutes, we’ll show you the cheapest available mortgage rates for Trois-Rivières.

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Conventional vs. high-ratio mortgages: which is cheaper?

The type of mortgage you can get depends on the size of your down payment.

When you make a down payment that’s 20% or more of the home’s purchase price, that’s called a conventional mortgage.

When the down payment is less than 20% of the purchase price, that’s called a high-ratio mortgage. Keep in mind, however, you still need to make a down payment of at least 5%. With a high-ratio mortgage, you have to buy mortgage default insurance. This type of insurance is offered by the Canada Mortgage and Housing Corporation (CMHC) or private insurers Sagen and Canada Guaranty. It’s also sometimes known as “CMHC insurance,” even if the insurance comes from another provider.

Take a look at conventional vs. high-ratio mortgage rates from

Conventional 5-year fixed mortgage rates vs. high ratio 5-year fixed mortgage rates in Quebec

DateAverage Conventional RateAverage High Ratio Rate
02/22 2.76%2.49%
03/22 3.06%2.79%
04/22 3.64%3.37%
05/22 4.05%3.73%
06/22 4.38%4.02%
07/22 4.88%4.50%
08/22 4.78%4.36%
09/22 4.76%4.36%
10/22 5.11%4.71%
11/22 5.43%5.13%
12/22 5.22%4.81%
01/23 5.19%4.75%

Last Updated: February 1, 2023

Fixed rate vs. variable rate mortgages: which is cheaper?

There are two different rates you can choose from when you get a mortgage: a fixed rate or a variable rate. It’s important to compare these when you’re getting a mortgage loan in Trois-Rivières.

A fixed rate is just that — fixed. The rate doesn’t change, the payments are always the same, and the amount of your payment that goes towards paying down the principal will slowly increase during the mortgage term. A fixed interest rate is a good option if you’re worried about rising rates. However, there may be a high cost associated with breaking your mortgage early if you choose a fixed rate.

On the other hand, a variable rate can vary over the term if the Bank of Canada lowers or raises rates. If rates rise, your payment will remain the same in most cases while the amount that goes towards paying down the principal may decrease and the amount of interest you pay will increase. However, the penalties for breaking your mortgage are typically lower if you have a variable rate.

Read below to learn what factors determine how to get the best fixed and variable mortgage rates in Trois-Rivières.

5-year fixed vs. 5-year variable mortgage rates in Quebec

02/22 2.67%1.26%
03/22 2.99%1.52%
04/22 3.53%1.87%
05/22 3.91%2.26%
06/22 4.26%2.70%
07/22 4.73%3.21%
08/22 4.59%3.78%
09/22 4.59%4.23%
10/22 4.99%4.58%
11/22 5.24%5.06%
12/22 4.97%5.34%
01/23 4.87%5.67%

Last Updated: February 1, 2023

Factors that affect your Trois-Rivières mortgage rate

When you’re looking at average interest rates today from mortgage companies in Trois-Rivières, you may notice some differences between what’s available. There may also be a disparity between bank and broker mortgage rates in Trois-Rivières and across Canada. Mortgage rates can be very individualized. There are many factors that affect whether lenders will approve your mortgage application, and what interest rates they’ll offer.

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Typical mortgage amounts in Trois-Rivières

Your mortgage amount will be based on the size of your down payment and the cost of your property. Those two factors will be key in determining your regular mortgage payments and whether you receive the best home mortgage rates in Trois-Rivières.

The Canadian Real Estate Association (CREA) reported that the average sale price of a home in the Trois-Rivières region was $254,809 in June 2021 — 32.4% higher than the same month last year.

Let’s use’s mortgage payment calculator to calculate your mortgage in Trois-Rivières. If you want a conventional mortgage on a home that’s equal to the average sale price, you need a down payment of 20%. On a $254,809 home, that works out to $50,961.80. As a result, your mortgage will be $203,847.20.

If you don’t think you’ll be able to put down 20%, you have to get a high-ratio mortgage as well as mortgage default insurance. If you choose to make the minimum down payment of 5% ($12,740.45), you have to add the 4% premium ($10,192.36) for mortgage default insurance. This will bring your total mortgage to $252,260.91. The Quebec sales tax (QST) isn’t added to the premium, but it’s one of your closing costs (more on closing costs below).

Trois-Rivières’s housing market and home prices

In real estate, there’s often a common saying when it comes to how home prices are determined: location, location, location! As Trois-Rivières doesn’t have a large population and is quite a distance from both Montreal and Québec City, prices are quite reasonable compared to those two cities.

As mentioned earlier, $254,809 was the average sale price of a home in the Trois-Rivières area in June 2021.

If you compare prices to Montreal or Québec City, the cost of a home in the Trois-Rivières region looks like a bargain. According to CREA, the average price of a home in the Montreal area was $498,900 and $296,200 in the Québec City area.

Trois-Rivières closing costs and land transfer tax

It’s common for new homebuyers to not know there are extra costs involved with making a purchase. They’re called closing costs and they can be equal to as much as 4% of the purchase price.

The most common closing costs are:

Another closing cost is the land transfer tax. In Quebec, this is commonly known as a welcome tax. The tax rate is applied on a sliding scale:

You can use’s land transfer tax calculator to find out exactly how much you’ll pay.


Information for first-time home buyers in Trois-Rivières

When you buy a home, you need to make a down payment of at least 5% if the property is less than $1 million. If the price is $1 million or more, a down payment of at least 20% is required.

A home is expensive, but there are some incentives available if you purchase one. First, there’s the Home Buyers’ Amount (formerly called the First-Time Home Buyers’ Tax Credit). Only first-time buyers or persons with disabilities are allowed to take advantage of this $5,000 non-refundable tax credit.

Second, there’s the GST/HST New Housing Rebate. There’s tax included in the purchase price when you buy a newly built home, but the rebate allows you to recover the goods and services tax (GST) portion of the tax. It’s only available if you buy a new home from a builder or if you have one built.

All Canadians who are eligible can receive those credits. But Quebecers may be eligible for the Home Buyers’ Tax Credit. For a qualifying home, the maximum tax credit is $750.

Your questions about Trois-Rivières mortgages, answered.

What’s the difference between a mortgage term and an amortization period?

The mortgage term is the length of your contract with your lender. When the term is up, you can renew the contract with the same lender or shop around for a better rate and sign with a different lender. A mortgage term can last as short as six months and as long as 10 years. The most common term in Canada is five years.

The amortization period is how long you have to pay off your mortgage. This can be as short as 10 years or as long as 35 years. However, if you get a high-ratio mortgage, you can only get an amortization of 25 years or less. The most common amortization is 25 years.

What’s the difference between an open mortgage vs. a closed mortgage?

If you do a comparison of mortgage rates in Trois-Rivières, you’ll probably notice a difference between open and closed rates.

Rates for open mortgages are higher than closed mortgages because an open mortgage is very flexible. Do you want to pay off your entire mortgage balance as quickly as possible or make extra payments a few times a month and not have to pay a penalty? You can if you have an open mortgage.

Closed mortgages aren’t very flexible at all, which is one of the reasons why you can get a lower rate. There are penalties if you break your mortgage and pay off your balance in full. There are also restrictions around how many additional payments you can make a year and what percentage of your original balance you’re allowed to pay off annually.

How much does it cost to live in Trois-Rivières?

Living in the Trois-Rivières area is quite inexpensive compared to other cities despite a recent jump in housing prices.

The Canadian Real Estate Association (CREA) notes that the average home price was $254,809 in June 2021 — a 32.4% increase over the same month last year. However, that’s still less expensive than other parts of the province. The average price of a home was $498,900 in the Montreal area and $296,200 in the Québec City area.

Commuting in Trois-Rivières isn’t much of a problem for most residents. Statistics Canada finds that just 4.2% of commuters spend an hour or more getting to work each day. That’s lower than Sherbrooke (3%) and Québec City (3.5%), but higher than Ottawa-Gatineau (7.5%) and Montreal (11.5%).

The cost of auto insurance is another factor to consider. Luckily, rates in Quebec are the lowest in the country. The average annual insurance premiums in 2020 were $717 compared to $816 in Prince Edward Island, $1,528 in Ontario, and $1,832 in British Columbia.

How much does getting a lower interest rate matter in Trois-Rivières?

Getting one of the lowest mortgage rates in Trois-Rivières is one factor to consider, but there are others you should know.

A number of lenders let you make additional payments over the mortgage term, which are called prepayment privileges. These vary from lender to lender, but the main takeaway is that additional payments allow you to pay off your mortgage earlier and reduce your overall interest costs.

You’ll often have to pay penalties when you make more prepayments than you’re allowed or when you break your mortgage. The costs can vary depending on whether you have a variable or fixed rate, if rates have changed since you signed your latest mortgage contract, and the lender that you chose. It’s best to learn what penalties you may need to pay before you get or renew a mortgage.

Some mortgages have a portability option. That means when you sell your existing property and buy another one, you can transfer the mortgage to the new property. This saves you the hassle of having to go through the qualification process and you won’t have to pay any penalties because you won’t be breaking your mortgage. There may be a small transfer fee though.

Your questions about, answered.

How are mortgage rates determined on works with 50+ banks and brokers to bring you competitive mortgage rates from lenders in Canada. We work with our partners to obtain their best deals and offers, and then we let them compete for your business. All you have to do is answer a few questions, and in minutes you’ll be provided with mortgage rates for houses in Trois-Rivières. 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.

Is it safe to get a mortgage online?

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. 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.

How do I know I’m getting the lowest rate?

We have a strong selection of lenders on 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.

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