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Variable Rates

As low as

1.20%

Fixed Rates

As low as

1.69%

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

Current lowest posted bank rate

1.94%

Variable or fixed: which is lower?

Here’s a simple answer: variable rates are usually lower — according to our data at least. For the past two years, our variable rates have been lower than our fixed rates except for a brief period during 2019-2020. Just take a look at the graph below and you’ll see the difference yourself.

5-year fixed vs. 5-year variable mortgage rates in British Columbia

MonthFixedVariable
04/20 2.30%2.79%
05/20 2.15%2.42%
06/20 2.07%2.31%
07/20 2.00%2.16%
08/20 1.94%2.03%
09/20 1.83%1.93%
10/20 1.79%1.83%
11/20 1.76%1.73%
12/20 1.69%1.74%
01/21 1.68%1.83%
02/21 1.45%1.62%

Last Updated: March 1, 2021

Focus On

Victoria housing.

With the average detached home still going for well over $1 million, for many Vancouver families, purchasing even a modest home is still difficult. Condos are also expensive in Vancouver, although they have not appreciated at quite the same pace as detached houses have.

Average single-detached house prices in Victoria

DateHome Prices
Aug 2019$743,500
Sep 2019$751,200
Oct 2019$758,300
Nov 2019$759,500
Dec 2019$764,400
Jan 2020$768,800
Feb 2020$775,400
Mar 2020$775,800
Apr 2020$774,000
May 2020$772,400
Jun 2020$779,600
Jul 2020$793,000
Aug 2020$788,900

Last Updated: October 22th, 2020

Townhouse and Condo prices in Victoria

YearTownhouseCondo
Aug 2019$589,100$503,800
Sep 2019$585,300$503,000
Oct 2019$580,100$503,800
Nov 2019$584,400$511,700
Dec 2019$587,400$515,600
Jan 2020$595,900$518,600
Feb 2020$591,800$517,200
Mar 2020$593,500$515,900
Apr 2020$594,700$514,400
May 2020$593,200$513,100
Jun 2020$588,900$507,400
Jul 2020$594,700$510,100
Aug 2020$610,800$504,100

Last Updated: October 22th, 2020

About Victoria.

Located on the southern tip of Vancouver Island, Victoria is the beautiful and laid-back capital of British Columbia. With a mix of heritage architecture, mountain scenery, and one of the most temperate climates in all of Canada (without the rain of Vancouver) it’s no wonder this graceful seaside town is a beacon for those who want to enjoy the good life.

You feel the pull of history here too: as one of the first settlements to be established in the Pacific Northwest, Victoria is the site of the second oldest Chinatown in North America, behind San Francisco. It is also known as the ‘City of Gardens’, famous for its manicured natural landscapes and elegant neighbourhoods that echo a grand English heritage.

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