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Canada's Best Mortgage Rates Are Right Here! uncovers Canada’s best mortgage rates by comparing virtually every lender and top mortgage broker that publicly quotes them. The Spy’s proprietary technology then 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 the providers who don’t pay us. We list the lowest rates from all reputable sources.

The Spy's mission is unwavering: Be 100% transparent, be totally unbiased and be the leader in Canadian mortgage rate comparisons.

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 to blend 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 Costs Going Up

Effective January 1, 2017, financial regulators will make default insurers (like CMHC) hold more capital when insuring mortgages in highly valued cities. The purpose is to keep government-backed insurers more solvent if home prices fall off a cliff. But financial stability has a cost. Capital is not free so...

Thank You, Mr. Poloz?

“Young folks with mortgages regularly thank me for keeping interest rates low.“ —Bank of Canada Governor, Stephen Poloz   In fact, Mr. Poloz’s decisions to keep rates low have practically been made for him, by serially disappointing economic data. Monetary...