What are the current mortgage rates in Canada?

Current mortgage rates in Canada vary by lender. As of 2026-10-14T09:59:11Z, the best 5-year fixed uninsured rate is 4.29% from RFA Bank, and the best 5-year variable uninsured rate is 3.64% from Meridian Credit Union. The average rate across all 25 lenders is 5.13%. Rates are updated twice daily from major Canadian lenders.

What is the difference between fixed and variable mortgage rates?

Fixed mortgage rates remain constant throughout your term, providing payment stability and protection against rate increases. Variable mortgage rates fluctuate with your lender's prime rate (currently 4.45%), which means your payments may increase or decrease following Bank of Canada policy changes. Variable rates typically start 0.3% to 0.7% lower than comparable fixed rates but carry more interest rate risk.

Should I choose an insured or uninsured mortgage?

Insured mortgages (with less than 20% down payment) typically offer rates 0.2% to 0.5% lower than uninsured mortgages but require mortgage insurance premiums of 0.6% to 4% of the loan amount through CMHC, Sagen, or Canada Guaranty. Uninsured mortgages (with 20% or more down payment) have slightly higher rates but no insurance premiums. For most buyers with less than 20% down, insured is the only option. With 20%+, calculate whether the lower rate justifies the insurance cost.

How often are mortgage rates updated?

Mortgage rates on LatestMortgageRates.ca are updated twice daily at 6:00 AM EST and 6:00 PM EST. Our automated system scrapes rates directly from ${uniqueLenders.length} Canadian lender websites including the Big 6 Banks (RBC, TD, Scotiabank, BMO, CIBC, National Bank), monoline lenders (First National, MCAP), credit unions, and digital banks to ensure accuracy within hours of any changes.

What is the Bank of Canada prime rate and how does it affect mortgages?

The Bank of Canada prime rate is currently 4.45%. Variable mortgage rates are quoted as 'prime minus X%' or 'prime plus X%'. When the Bank of Canada changes its overnight rate, lenders typically adjust their prime rate accordingly, which directly affects variable mortgage payments. Fixed rates are more influenced by government bond yields than the prime rate.

How much can I save by shopping around for mortgage rates?

Shopping around can save thousands over your mortgage term. Rate differences between lenders often range from 0.5% to 1.0%. On a $500,000 mortgage over 5 years, a 0.5% lower rate saves approximately $12,500 in interest. Using LatestMortgageRates.ca to compare 25+ lenders ensures you find the best available rate for your situation.

What's the difference between posted rates and contract rates?

Posted rates are the advertised 'rack' rates banks display publicly, often 1% to 2% higher than what qualified borrowers actually pay. Contract rates (or discounted rates) are the actual rates negotiated between you and the lender. Big banks often quote posted rates but provide discounts. Monoline lenders typically advertise their actual contract rates directly, which is why they often appear lower in comparisons.

Should I get a mortgage from a bank or a monoline lender?

Banks offer convenience (existing relationship, bundled products) and branch access but typically have higher rates. Monoline lenders (mortgage-only specialists like First National, MCAP) offer lower rates and specialize in mortgages, but work through brokers rather than branches. Many borrowers use monoline lenders for better rates while keeping day-to-day banking at their main institution. Both are regulated and safe choices.

Latest Mortgage Rates

Updated Oct 14, 2026, 05:59 a.m.221 rates from 25 lenders

Today's Best Mortgage Rates

Top lenders ranked by lowest rate

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Term

Rate Type

Mortgage Type

Lender

25 lenders available

		Type		Details	Action
True North Mortgage	6m	FixedInsured	2.49%	--	View
True North Mortgage	6m	FixedUninsured	2.69%	--	View
Butler Mortgage	5yr	VariableInsured	3.25%	--	View
nesto	5yr	VariableInsured	3.41%	--	View
Meridian Credit Union	5yr	VariableInsured	3.44%	--	View
Wealthsimple	5yr	VariableInsured	3.45%	--	View
True North Mortgage	5yr	VariableInsured	3.49%	--	View
Butler Mortgage	3yr	VariableInsured	3.50%	--	View
Meridian Credit Union	5yr	VariableUninsured	3.64%	--	View
ATB Financial	5yr	VariableInsured	3.65%	--	View
True North Mortgage	5yr	VariableUninsured	3.69%	--	View
Tangerine	5yr	VariableUninsured	3.70%	--	View
Alterna Bank	5yr	VariableInsured	3.70%	--	View
RFA Bank	5yr	VariableUninsured	3.70%	Prime - 0.75%	View
Coast Capital Savings	5yr	VariableInsured	3.71%	--	View
ATB Financial	5yr	VariableUninsured	3.80%	--	View
Royal Bank of Canada	5yr	VariableInsured	3.85%	--	View
Coast Capital Savings	5yr	VariableUninsured	3.86%	--	View
Butler Mortgage	6m	FixedInsured	3.89%	--	View
nesto	5yr	VariableUninsured	3.91%	--	View
Vancity	5yr	VariableUninsured	3.95%	--	View
Canadian Imperial Bank of Commerce	5yr	VariableInsured	4.05%4.45%	--	View
Bank of Montreal	5yr	VariableUninsured	4.10%	--	View
Desjardins	5yr	VariableUninsured	4.10%	--	View
Royal Bank of Canada	5yr	VariableUninsured	4.15%	--	View
Canadian Imperial Bank of Commerce	3yr	VariableUninsured	4.15%4.45%	--	View
Alterna Bank	5yr	VariableUninsured	4.15%	--	View
Canadian Imperial Bank of Commerce	5yr	VariableUninsured	4.20%4.45%	--	View
Simplii Financial	5yr	VariableUninsured	4.20%	--	View
TD Bank	5yr	VariableUninsured	4.24%4.60%	APR: 4.261%	View
TD Bank	4yr	FixedUninsured	4.25%5.99%	APR: 6.016%	View
Alterna Bank	3yr	VariableUninsured	4.25%	--	View
Meridian Credit Union	4yr	FixedUninsured	4.29%	--	View
ATB Financial	3yr	FixedInsured	4.29%	--	View
RFA Bank	5yr	FixedUninsured	4.29%	--	View
Butler Mortgage	2yr	FixedInsured	4.29%	--	View
Tangerine	2yr	FixedUninsured	4.34%	--	View
Meridian Credit Union	3yr	FixedInsured	4.34%	--	View
ATB Financial	5yr	FixedInsured	4.34%	--	View
ATB Financial	4yr	FixedInsured	4.34%	--	View
RFA Bank	3yr	FixedUninsured	4.34%	--	View
Butler Mortgage	3yr	FixedInsured	4.34%	--	View
Vancity	1yr	FixedInsured	4.35%	--	View
RFA Bank	4yr	FixedUninsured	4.39%	--	View
True North Mortgage	2yr	FixedInsured	4.39%	--	View
Home Trust	4yr	FixedInsured	4.39%	--	View
Butler Mortgage	5yr	FixedInsured	4.44%	--	View
True North Mortgage	4yr	FixedInsured	4.44%	--	View
Manulife Bank	5yr	VariableUninsured	4.45%	--	View
Tangerine	3yr	FixedUninsured	4.49%	--	View
Wealthsimple	5yr	FixedInsured	4.49%	--	View
Meridian Credit Union	3yr	FixedUninsured	4.49%	--	View
CMLS Financial	5yr	FixedInsured	4.49%	--	View
True North Mortgage	3yr	FixedInsured	4.49%	--	View
Coast Capital Savings	5yr	FixedInsured	4.51%	--	View
RFA Bank	2yr	FixedUninsured	4.54%	--	View
True North Mortgage	1yr	FixedInsured	4.54%	--	View
Vancity	2yr	FixedInsured	4.55%	--	View
Vancity	1yr	FixedUninsured	4.55%	--	View
nesto	5yr	FixedInsured	4.59%	--	View
Tangerine	4yr	FixedUninsured	4.59%	--	View
Alterna Bank	3yr	FixedInsured	4.59%	--	View
Meridian Credit Union	5yr	FixedInsured	4.59%	--	View
Desjardins	4yr	FixedUninsured	4.59%	--	View
ATB Financial	5yr	FixedUninsured	4.59%	--	View
ATB Financial	3yr	FixedUninsured	4.59%	--	View
Butler Mortgage	4yr	FixedInsured	4.59%	--	View
True North Mortgage	2yr	FixedUninsured	4.59%	--	View
True North Mortgage	5yr	FixedInsured	4.59%	--	View
ATB Financial	4yr	FixedUninsured	4.64%	--	View
CMLS Financial	2yr	FixedUninsured	4.64%	--	View
True North Mortgage	4yr	FixedUninsured	4.64%	--	View
Vancity	2yr	FixedUninsured	4.65%	--	View
CMLS Financial	5yr	VariableInsured	4.65%	--	View
Tangerine	5yr	FixedUninsured	4.69%	--	View
Alterna Bank	5yr	FixedInsured	4.69%	--	View
Desjardins	5yr	FixedUninsured	4.69%	--	View
True North Mortgage	3yr	FixedUninsured	4.69%	--	View
Vancity	3yr	FixedInsured	4.70%	--	View
Meridian Credit Union	5yr	FixedUninsured	4.74%	--	View
Vancity	4yr	FixedInsured	4.74%	--	View
True North Mortgage	1yr	FixedUninsured	4.74%	--	View
Vancity	3yr	FixedUninsured	4.75%	--	View
CMLS Financial	3yr	VariableInsured	4.75%	--	View
Tangerine	7yr	FixedUninsured	4.79%	--	View
Vancity	5yr	FixedInsured	4.79%	--	View
Vancity	4yr	FixedUninsured	4.79%	--	View
Manulife Bank	5yr	FixedInsured	4.79%5.39%	--	View
True North Mortgage	5yr	FixedUninsured	4.79%	--	View
TD Bank	4yr	FixedInsured	4.82%5.99%	APR: 4.846%	View
Royal Bank of Canada	5yr	FixedInsured	4.84%	--	View
Canadian Imperial Bank of Commerce	2yr	FixedUninsured	4.84%5.24%	--	View
Simplii Financial	2yr	FixedUninsured	4.84%	--	View
Vancity	5yr	FixedUninsured	4.84%	--	View
CMLS Financial	3yr	FixedInsured	4.84%	--	View
Coast Capital Savings	5yr	FixedUninsured	4.86%	--	View
Manulife Bank	5yr	FixedUninsured	4.89%5.39%	--	View
CMLS Financial	4yr	FixedUninsured	4.89%	--	View
Scotiabank	5yr	FixedUninsured	4.90%	--	View
Bank of Montreal	3yr	FixedUninsured	4.94%	--	View
Bank of Montreal	2yr	FixedUninsured	4.94%	--	View
National Bank of Canada	3yr	FixedUninsured	4.94%	--	View
Alterna Bank	3yr	FixedUninsured	4.94%	--	View
Manulife Bank	5yr	FixedNot stated	4.94%5.39%	--	View
CMLS Financial	4yr	FixedInsured	4.94%	--	View
Vancity	7yr	FixedUninsured	4.97%	--	View
Royal Bank of Canada	3yr	FixedUninsured	4.99%	--	View
Bank of Montreal	5yr	FixedInsured	4.99%	--	View
Canadian Imperial Bank of Commerce	5yr	FixedInsured	4.99%6.49%	--	View
Tangerine	10yr	FixedUninsured	4.99%	--	View
First National	5yr	FixedUninsured	4.99%	--	View
Home Trust	1yr	FixedInsured	4.99%	--	View
Home Trust	5yr	FixedInsured	4.99%	--	View
Royal Bank of Canada	4yr	FixedUninsured	5.04%	--	View
National Bank of Canada	5yr	FixedUninsured	5.04%	--	View
National Bank of Canada	5yr	VariableUninsured	5.04%	--	View
Alterna Bank	4yr	FixedUninsured	5.04%	--	View
Alterna Bank	5yr	FixedUninsured	5.04%	--	View
Canadian Imperial Bank of Commerce	1yr	FixedUninsured	5.09%5.14%	--	View
Canadian Imperial Bank of Commerce	3yr	FixedUninsured	5.09%6.14%	--	View
nesto	5yr	FixedUninsured	5.09%	--	View
Simplii Financial	3yr	FixedUninsured	5.09%	--	View
CMLS Financial	2yr	FixedInsured	5.09%	--	View
Home Trust	3yr	FixedInsured	5.12%	--	View
Royal Bank of Canada	5yr	FixedUninsured	5.14%	--	View
Royal Bank of Canada	1yr	FixedUninsured	5.14%	--	View
Royal Bank of Canada	2yr	FixedUninsured	5.14%	--	View
TD Bank	3yr	FixedUninsured	5.14%6.05%	APR: 5.174%	View
Bank of Montreal	5yr	FixedUninsured	5.14%	--	View
CMLS Financial	1yr	FixedUninsured	5.14%	--	View
Home Trust	2yr	FixedInsured	5.17%	--	View
Laurentian Bank	5yr	FixedUninsured	5.19%	--	View
Manulife Bank	3yr	FixedUninsured	5.19%	--	View
RFA Bank	1yr	FixedUninsured	5.19%	--	View
TD Bank	2yr	FixedUninsured	5.21%5.29%	APR: 5.340%	View
Canadian Imperial Bank of Commerce	4yr	FixedUninsured	5.24%6.19%	--	View
Simplii Financial	4yr	FixedUninsured	5.24%	--	View
Royal Bank of Canada	7yr	FixedUninsured	5.25%	--	View
Vancity	10yr	FixedUninsured	5.29%	--	View
Butler Mortgage	7yr	FixedInsured	5.29%	--	View
Equitable Bank	1yr	FixedUninsured	5.29%	--	View
Home Trust	1yr	FixedUninsured	5.29%	--	View
TD Bank	5yr	FixedInsured	5.34%6.09%	APR: 5.361%	View
TD Bank	5yr	FixedUninsured	5.34%6.09%	APR: 5.361%	View
Canadian Imperial Bank of Commerce	5yr	FixedUninsured	5.34%6.49%	--	View
Simplii Financial	5yr	FixedUninsured	5.34%	--	View
ATB Financial	2.5yr	FixedUninsured	5.34%	--	View
TD Bank	6yr	FixedUninsured	5.39%6.29%	APR: 6.308%	View
Alterna Bank	2yr	FixedUninsured	5.39%	--	View
Butler Mortgage	10yr	FixedInsured	5.39%	--	View
Equitable Bank	2yr	FixedUninsured	5.39%	--	View
Home Trust	2yr	FixedUninsured	5.39%	--	View
First National	4yr	FixedUninsured	5.44%	--	View
CMLS Financial	3yr	FixedUninsured	5.44%	--	View
CMLS Financial	5yr	FixedUninsured	5.44%	--	View
TD Bank	7yr	FixedUninsured	5.49%6.40%	APR: 6.415%	View
Bank of Montreal	1yr	FixedUninsured	5.49%	--	View
Desjardins	1yr	FixedUninsured	5.49%	--	View
Vancity	6m	FixedUninsured	5.49%	--	View
First National	3yr	FixedUninsured	5.49%	--	View
Manulife Bank	4yr	FixedUninsured	5.49%	--	View
Equitable Bank	3yr	FixedUninsured	5.49%	--	View
Home Trust	3yr	FixedUninsured	5.49%	--	View
TD Bank	10yr	FixedUninsured	5.50%6.80%	APR: 6.811%	View
Canadian Imperial Bank of Commerce	7yr	FixedUninsured	5.54%6.30%	--	View
CMLS Financial	1yr	FixedInsured	5.54%	--	View
Tangerine	1yr	FixedUninsured	5.59%	--	View
Desjardins	2yr	FixedUninsured	5.59%	--	View
ATB Financial	2yr	FixedUninsured	5.59%	--	View
First National	2yr	FixedUninsured	5.59%	--	View
Equitable Bank	5yr	FixedUninsured	5.59%	--	View
First National	7yr	FixedUninsured	5.61%	--	View
Laurentian Bank	1yr	FixedUninsured	5.64%	--	View
Laurentian Bank	1.5yr	FixedUninsured	5.64%	--	View
Alterna Bank	1yr	FixedUninsured	5.69%	--	View
Desjardins	1yr	VariableUninsured	5.70%	--	View
Desjardins	2yr	VariableUninsured	5.70%	--	View
Royal Bank of Canada	6m	FixedUninsured	5.74%	--	View
Meridian Credit Union	2yr	FixedUninsured	5.74%	--	View
First National	10yr	FixedUninsured	5.91%	--	View
Laurentian Bank	2yr	FixedUninsured	5.94%	--	View
TD Bank	6yr	FixedInsured	5.99%6.29%	APR: 6.008%	View
Bank of Montreal	4yr	FixedUninsured	5.99%	--	View
Desjardins	3yr	FixedUninsured	6.04%	--	View
TD Bank	7yr	FixedInsured	6.09%6.40%	APR: 6.105%	View
Meridian Credit Union	1yr	FixedUninsured	6.09%	--	View
ATB Financial	1yr	FixedUninsured	6.09%	--	View
Laurentian Bank	3yr	FixedUninsured	6.09%	--	View
TD Bank	10yr	FixedInsured	6.10%6.80%	APR: 6.111%	View
Laurentian Bank	4yr	FixedUninsured	6.19%	--	View
ATB Financial	2.5yr	FixedInsured	6.24%	--	View
Bank of Montreal	6yr	FixedUninsured	6.29%	--	View
Desjardins	6yr	FixedUninsured	6.29%	--	View
Manulife Bank	2yr	FixedUninsured	6.34%	--	View
Manulife Bank	7yr	FixedUninsured	6.35%	--	View
Desjardins	7yr	FixedUninsured	6.39%	--	View
Bank of Montreal	7yr	FixedUninsured	6.40%	--	View
Equitable Bank	4yr	FixedUninsured	6.44%	--	View
Home Trust	4yr	FixedUninsured	6.46%	--	View
Home Trust	5yr	FixedUninsured	6.51%	--	View
ATB Financial	2yr	FixedInsured	6.54%	--	View
Laurentian Bank	6yr	FixedUninsured	6.69%	--	View
Laurentian Bank	7yr	FixedUninsured	6.69%	--	View
Manulife Bank	10yr	FixedUninsured	6.69%	--	View
Alterna Bank	6m	FixedUninsured	6.79%	--	View
Bank of Montreal	10yr	FixedUninsured	6.80%	--	View
Meridian Credit Union	7yr	FixedUninsured	6.89%	--	View
Desjardins	10yr	FixedUninsured	6.89%	--	View
Manulife Bank	1yr	FixedUninsured	6.89%	--	View
Royal Bank of Canada	10yr	FixedUninsured	6.90%	--	View
Meridian Credit Union	10yr	FixedUninsured	6.99%	--	View
Laurentian Bank	8yr	FixedUninsured	7.14%	--	View
Laurentian Bank	9yr	FixedUninsured	7.14%	--	View
Laurentian Bank	10yr	FixedUninsured	7.14%	--	View
CMLS Financial	6yr	FixedInsured	7.34%	--	View
Meridian Credit Union	6m	FixedUninsured	7.84%	--	View
Laurentian Bank	6m	FixedUninsured	7.84%	--	View
Desjardins	6m	FixedUninsured	7.99%	--	View
Manulife Bank	6m	FixedUninsured	7.99%	--	View
CMLS Financial	7yr	FixedInsured	7.99%	--	View
CMLS Financial	10yr	FixedInsured	8.09%	--	View

Showing 221 ratesSorted by rate

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Jump to today’s 5-year fixed, variable, insured, and uninsured mortgage rates.

5-Year Fixed Rates

Today’s best locked-in 5-year rates

Variable Rates

Prime-linked variable mortgage rates

Insured Rates

High-ratio rates with under 20% down

Uninsured Rates

Conventional rates with 20%+ down

What mortgage rate are people getting?

Posted shelves and the rates self-reported by Canadian borrowers online are different numbers. As of October 4, 2026, the median 5-year fixed report is 4.25% (N = 63) and the median 5-year variable report is 3.55% (N = 166), all insured statuses.

Real mortgage rates Check a renewal offer Negotiate below posted

Mortgage comparison guides

Fixed vs variable, insured vs uninsured, and lender vs lender — with live rates from the same feed as our hubs.

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Product

Fixed vs Variable

The contract rate stays the same for the term. Best when you want a known payment and can live with a higher break penalty.

Product

Insured vs Uninsured

Less than 20% down on an eligible owner-occupied purchase. Default insurance is required; the premium is usually added to the loan.

Lender vs lender

Wealthsimple vs TD

Licensed digital brokerage. Brokers shop partner lenders. Cash-back promos may apply on new mortgages; coverage is not Canada-wide.

Lender vs lender

TD vs RBC

Big 5 lender with FlexLine, newcomer programs, and a large branch plus digital network. Shop the discounted special, not the posted rate.

Lender vs lender

nesto vs Wealthsimple

Digital mortgage lender with an advertised low-rate guarantee, 150-day rate holds, and a fully online application backed by licensed experts.

Lender vs lender

BMO vs CIBC

Big 5 lender with Smart Fixed mortgages, a full HELOC, and online pre-approval. Competitive when the discounted special is in writing.

Lender mortgage rates

Open a lender page for today’s fixed and variable quotes. Every figure on those pages comes from our scrape.

Download Rate Data

Download the current 5-year fixed rates as JSON for your own analysis.

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Enhanced Mortgage Calculator

Calculate payments, view amortization schedules, and compare scenarios

Mortgage Details

Mortgage Amountⓘ

Interest Rateⓘ

Amortizationⓘ

Termⓘ

Payment Frequencyⓘ

Annual Lump Sumⓘ

Payment Increaseⓘ

Monthly Payment

$2,779.16

Total Paid (5yr)ⓘ

$166,749.74

Principal Paidⓘ

$60,710.48

Interest Paidⓘ

$106,039.26

Remaining Balanceⓘ

$439,289.52

This calculator provides estimates for informational purposes only. Actual mortgage payments may vary based on lender fees, property taxes, insurance, and other factors. Please consult with a mortgage professional for accurate figures.