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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%
6.59%
 
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
4.99%
5.29%
 
4-year fixed rate
Insured
4.79%
80% LTV
4.84%
65% LTV
4.84%
Uninsured
4.99%
5.19%
 
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
5.89%
5.9%
 
10-year fixed rate
Insured
5.69%
80% LTV
5.94%
65% LTV
5.94%
Uninsured
6.09%
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

About variable closed mortgage rates.

Take advantage of today's rock-bottom rates with a variable closed interest rate mortgage. Why? For starters, variable closed mortgages usually have lower interest rates than fixed rate mortgages do. Plus, with most variable closed mortgages, you can still convert to a fixed rate mortgage if you expect interest rates to rise in the future.

So if you're in the market for the lowest rate, consider shopping for a variable closed mortgage.

Compare the top variable closed products right here at LowestRates.ca. You can get started by selecting a product from the rate chart above.

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