Best 5-Year Fixed Mortgage Rates This Week: March 10-16

Every week, we analyze mortgage rates from Canada's top lenders to find you the best deals. Here's your weekly roundup of the best 5-year fixed mortgage rates for March 10-16, 2025. For the live table, see our 5-year fixed rate hub and split insured vs uninsured products.

This Week's Top 5 Rates

Compared to Last Month

The lowest available 5-year fixed rates have fallen approximately 0.15% since February, continuing a gradual downward trend as bond yields have softened. This represents significant savings for new borrowers and those renewing this spring.

Who Qualifies for These Rates?

The lowest rates typically require:

• Strong credit score (680+)
• Stable income and employment
• Debt-to-income ratios within guidelines
• Down payment of 20%+ for uninsured rates

Some lenders also offer competitive insured rates (less than 20% down) that are only slightly higher.

Should You Lock In Now?

For borrowers who value payment certainty, current fixed rates remain attractive. While rates may drift lower later in 2025, the risk of significant increases appears limited given economic forecasts.

Variable rates remain competitive at 3.40%-4.35%, but come with payment uncertainty if the Bank of Canada adjusts rates.

Tips for Rate Shopping

1. Get pre-approved to hold a rate for 90-120 days
2. Compare rates AND terms (prepayment options, penalties)
3. Consider using a mortgage broker for access to more lenders
4. Don't forget to negotiate - even published rates often have room