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Canada's Best Mortgage Rates Are Right Here!

We spy on the best mortgage rates in Canada 24/7, letting you compare mortgage rates from virtually every lender and top mortgage broker in the country.’s proprietary technology scans thousands of mortgage websites four times a day so you know exactly where to find the best deals.

Unlike other rate comparison sites, we don’t ignore providers who don’t pay us. We list the lowest rates from all reputable sources so you don’t need to look elsewhere.

The Spy’s mission is to be:

  • 100% transparent
  • 100% unbiased
  • The leader in Canadian mortgage rate comparison.

How to Use This Site

The biggest mistake borrowers make is focusing on the lowest rate when they should be looking for the best rate. There’s a difference. The best rate is the one that entails the least cost of borrowing. It factors in the upfront interest cost, all fees and closing costs, the penalty for breaking the mortgage early, portability privileges, refinance restrictions, prepayment rights, the option to borrow more before maturity, flexibility in blending the rate, rate conversion features and so on.

Before settling on any mortgage you see here, remember that contract flexibility can save you far more than a small rate difference. Pick up the phone or email the mortgage provider and have them compare their rate against the competition. Smart spies know the devil is in the fine print.

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mortgage rate news

Yields are down again. The 5yr bond yield is now the lowest it's been since June—and approaching the 11-month low set that month: We're seeing lower 5-year fixed rates from certain non-bank lenders, but not the big banks...yet. Keep the faith though.

.@RBC lifts its "Special" 3yr fixed rate from 3.49% to 3.64%, following @BMO's hike on the same term. The best bank rates remain unusually elevated, relative to the 5yr govt bond: This may persist through the holidays—which always have thin mtg volumes.

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