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Best Mortgage Rates

These are the best open rates in Canada. Open mortgages are always priced at a premium because the absence of a prepayment penalty makes them more costly for lenders.

Spy Tip: Open mortgages almost always have a signification rate premium over closed mortgages. For that reason, they’re usually intended as short-term solution. If you plan on having a mortgage for more than 9 months, you’re almost always better off in a closed mortgage at a much lower rate, even if you have to pay a 3-month interest penalty to get out early.