Best 5-Year Fixed Mortgage Rates This Week: September 28-October 4
The lowest 5-year fixed quotes among 25 Canadian lenders this week start at 4.14% (ATB Financial and Butler Mortgage), from our September 28, 2026 scrape.
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 28-October 4, 2026 (ISO week 40). Figures below come from our September 28, 2026 scrape (rates.json on the site; last updated around 2026-09-28 09:55 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 | ATB Financial | 4.14% | Insured | Alberta financial |
| 2 | Butler Mortgage | 4.14% | — | Broker channel |
| 3 | Coast Capital Savings | 4.21% | Insured | BC credit union |
| 4 | RFA Bank | 4.29% | Uninsured | Broker channel |
| 5 | Wealthsimple | 4.34% | Insured | Digital lender |
Week over week versus our published week-39 top five: ATB Financial improved from 4.29% to 4.14% and now ties Butler Mortgage for the lowest quote. Coast Capital Savings moved from 4.06% to 4.21%, Wealthsimple from 4.19% to 4.34%, and Butler from 4.09% to 4.14%. First National left the top tier (4.24% last week; 4.99% uninsured in this scrape). RFA Bank enters the top five at 4.29% uninsured.
5-year fixed range (25 lenders, best quote each): 4.14% – 5.19%
Average of those best-per-lender quotes: 4.65%
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 28 scrape is 3.25% at Butler Mortgage, with Meridian at 3.44% insured and nesto / 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. The next decision is October 28, 2026. Read the September 2026 BoC hold recap.
All 25 lenders this week
Best 5-year fixed quote per lender from the same September 28 scrape. Type is the product in that row (insured or uninsured) when the scrape provided it. A dash means the scrape did not label the product type.
| Rank | Lender | Rate | Type |
|---|---|---|---|
| 1 | ATB Financial | 4.14% | Insured |
| 2 | Butler Mortgage | 4.14% | — |
| 3 | Coast Capital Savings | 4.21% | Insured |
| 4 | RFA Bank | 4.29% | Uninsured |
| 5 | Wealthsimple | 4.34% | Insured |
| 6 | Alterna Bank | 4.44% | Insured |
| 7 | Meridian Credit Union | 4.49% | Insured |
| 8 | CMLS Financial | 4.49% | Insured |
| 9 | True North Mortgage | 4.49% | Insured |
| 10 | Canadian Imperial Bank of Commerce | 4.59% | Insured |
| 11 | nesto | 4.59% | Insured |
| 12 | Manulife Bank | 4.59% | Insured |
| 13 | Tangerine | 4.69% | Uninsured |
| 14 | Desjardins | 4.69% | Uninsured |
| 15 | Equitable Bank | 4.69% | Uninsured |
| 16 | Royal Bank of Canada | 4.74% | Insured |
| 17 | Vancity | 4.79% | Insured |
| 18 | Home Trust | 4.79% | Insured |
| 19 | Bank of Montreal | 4.84% | Insured |
| 20 | Scotiabank | 4.90% | Uninsured |
| 21 | Simplii Financial | 4.94% | Uninsured |
| 22 | National Bank of Canada | 4.99% | Uninsured |
| 23 | First National | 4.99% | Uninsured |
| 24 | TD Bank | 5.14% | Insured |
| 25 | Laurentian Bank | 5.19% | Uninsured |
Example on a $500,000 mortgage
25-year amortization, monthly payment estimate:
- At 4.14% (best 5-year fixed): $2,668/month
- At 6.49% (CIBC posted in this scrape): $3,346/month
- Monthly difference: $678
- 5-year difference: $40,680
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 labeled insured 5-year fixed is ATB Financial at 4.14%. The lowest labeled uninsured quote in the same table is RFA Bank at 4.29%. Butler Mortgage also quotes 4.14% but the scrape did not mark insured vs uninsured for that row. 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 labeled insured variable 3.44% at Meridian; Butler 3.25% unlabeled), 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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