Best Bank Mortgage Rates in Canada

Last Updated 09:12 AM ET Oct 19

Discretionary Rates

5Yr Variable1Yr Fixed2Yr Fixed3Yr Fixed4Yr Fixed5Yr Fixed7Yr Fixed10Yr Fixed
Typical2.95%3.19%3.34%3.49%3.59%3.64%3.99%4.34%

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Special Offer Rates

5Yr Variable1Yr Fixed2Yr Fixed3Yr Fixed4Yr Fixed5Yr Fixed7Yr Fixed10Yr Fixed
BMO3.69%4.49%
CIBC3.79%3.49%3.99%
National3.89%3.94%
RBC3.05%3.39%3.49%3.64%3.64%3.89%3.99%
Scotia
TD3.05%3.84%

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Lowest3.05%3.39%3.49%3.64%3.64%3.49%3.99%4.49%

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Posted Rates

5Yr Variable1Yr Fixed2Yr Fixed3Yr Fixed4Yr Fixed5Yr Fixed7Yr Fixed10Yr Fixed
BMO3.85%3.79%3.99%4.29%4.89%5.34%5.80%6.50%
CIBC3.70%3.54%3.64%3.94%4.49%5.34%6.45%6.64%
National3.70%3.64%3.89%4.30%4.89%5.34%5.80%6.60%
RBC3.70%3.64%3.89%4.45%5.04%5.34%5.80%6.60%
Scotia3.90%3.79%3.79%4.44%4.59%5.44%5.99%6.59%
TD3.05%3.04%3.74%3.89%3.94%5.59%5.80%6.10%

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Lowest3.05%3.04%3.64%3.89%3.94%5.34%5.80%6.10%

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How To Use This Page

Canada’s Big 6 banks close roughly half of the nation’s new mortgages, making Canadian bank mortgage rates the most researched rates in the country. RateSpy.com is the only source that tracks estimated discretionary rates and official published rates from all of the six largest banks.

The best bank mortgage rates generally apply to creditworthy borrowers with an amortization of 25 years or less. Higher rates sometimes apply to specialized products such as 30-year amortizations, cottages or rental properties, and to mortgage customers who are refinancing before maturity or renewing with their lender.

The “discretionary bank rates” reflect RateSpy’s estimate of the median unpublished discounted rates that Big 6 banks are offering to borrowers with at least 20% equity. If you’re well-qualified and seek a standard mortgage on your primary residence, aim to pay no more than these rates for your term of choice. If you’re getting a default insured mortgage some banks will quote even lower rates than these discretionary offers.

Rates are subject to change without notice. Always check with the banks directly to confirm their current rates (as they can vary from what you see here) and ensure you qualify for those rates.

Legend

Last Rate Change:

Up 0.11% or more
Up 0.01% to 0.11%
Down 0.01% to 0.11%
Down 0.11% or more

Summary:

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Down