Best 5-Year Fixed Mortgage Rates This Week: September 15-21
This week's top 5-year fixed rates from 25 Canadian lenders, scraped September 15, 2026. See who's offering the lowest rates and how much you could save versus posted bank rates.
Andrew
Rate Analyst
Every week, we analyze mortgage rates from Canada's lenders to find you the best deals. Here's your weekly roundup of the best 5-year fixed mortgage rates for September 15-21, 2026 (ISO week 38). Figures below come from our September 15, 2026 scrape (data/rates.json / /api/rates.json, last updated 2026-09-15 10:39 UTC). For the live table, see our 5-year fixed rate hub and split insured vs uninsured products.
This Week's Top 5 Rates
| Rank | Lender | Rate | Type | Notes |
|---|---|---|---|---|
| 1 | Coast Capital Savings | 4.06% | Insured | BC credit union |
| 2 | Butler Mortgage | 4.09% | Uninsured | Broker channel |
| 3 | Alterna Bank | 4.14% | Insured | Credit union bank |
| 4 | Wealthsimple | 4.19% | Insured | Digital lender |
| 5 | True North Mortgage | 4.24% | Insured | National broker |
5-year fixed range (25 lenders): 4.06% – 4.99%
Average of 5-year fixed products in our table: 4.60%
Posted rates in this scrape: TD 6.09%, CIBC 6.49%
Best 5-year variable this week
If you are comparing against a fixed quote, the lowest 5-year variable in the same September 15 scrape is 3.44% insured at Meridian, with nesto and Wealthsimple at 3.45% insured. See the full variable rate hub.
The Bank of Canada held the overnight rate at 2.25% on September 2, 2026, so variable payments should not reprice from that decision alone. Fixed quotes still move with bond yields. Read the September 2026 BoC hold recap.
Example on a $500,000 mortgage
25-year amortization, monthly payment estimate:
- At 4.06% (best 5-year fixed): $2,656/month
- At 6.49% (CIBC posted in this scrape): $3,373/month
- Monthly difference: $717
- 5-year difference: $43,020
Estimate your own payment with the mortgage payment calculator. Qualification still uses the stress-test rate — check it with the stress test qualifier.
Insured vs uninsured
This week's lowest 5-year fixed is an insured (high-ratio) product. The lowest uninsured 5-year fixed in the same table is Butler Mortgage at 4.09%. Shop both insured and uninsured hubs if your down payment sits near 20%.
The lowest advertised rates typically still require:
- Strong credit and documented income
- Debt-service ratios within lender guidelines
- Less than 20% down for insured pricing, or 20%+ for uninsured
Should You Lock In Now?
For borrowers who value payment certainty, these 5-year fixed quotes are the current market — not a forecast. The next Bank of Canada decision is October 28, 2026. Variable rates remain lower in this scrape (best 3.44%), but they will move if prime moves after a future overnight-rate change.
Tips for Rate Shopping
- Get pre-approved to hold a rate for 90-120 days
- Compare rates AND terms (prepayment options, penalties)
- Consider using a mortgage broker for access to more lenders
- Don't forget to negotiate - even published rates often have room
More context: the mortgage guide covers product choice, qualification, and closing costs alongside these weekly numbers.
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