Best 5-Year Fixed Mortgage Rates This Week: October 12-18

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 October 12-18, 2026 (ISO week 42). Figures below come from our October 12, 2026 scrape (rates.json on the site; last updated 2026-10-12 10:00 UTC). For the live table, see our 5-year fixed rate hub and split insured vs uninsured products.

National Bank of Canada is left out of this week's rankings, averages, and week-over-week comparisons. Its 5-year fixed and 5-year variable rows in the October 12 scrape are identical, which looks like a scrape error.

This Week's Top 5 Rates

Fourth place is a tie, so the table lists both lenders at 4.49% insured. Week over week versus our published week-41 best quote for each of these 24 lenders, no lender cut its 5-year fixed rate. Eight raised their best quote and the other 16 were unchanged. The average of those best-per-lender quotes moved from 4.72% to 4.77%. Week 41's published average was 4.73% across 25 lenders; 4.72% is that same table with National Bank removed, so the comparison uses the same 24 names. That is a modest drift upward in fixed quotes. Fixed quotes still move with bond yields.

ATB Financial rose 0.20 percentage points, from 4.14% to 4.34% insured, and gave up last week's lowest quote. CIBC rose 0.20 points to 4.99% insured, and Simplii Financial rose 0.20 points to 5.34% uninsured. Butler Mortgage rose 0.15 points, from 4.29% to 4.44% insured. Bank of Montreal rose 0.15 points, from 4.84% to 4.99% insured. True North Mortgage rose 0.10 points, from 4.49% to 4.59% insured, and left last week's top five. Royal Bank of Canada rose 0.10 points, from 4.74% to 4.84% insured. Wealthsimple rose 0.05 points, from 4.44% to 4.49% insured. RFA Bank was unchanged at 4.29% uninsured and is the lowest quote. CMLS Financial was unchanged at 4.49% insured, and Equitable Bank was unchanged at 4.89% uninsured.

Lowest fixed quote by term

Lowest fixed quote in the same October 12 scrape for each common term. The 5-year row is the same RFA Bank quote as above. Type is the product on that row.

All 24 lenders this week

Best 5-year fixed quote per lender from the same October 12 scrape, excluding National Bank. Type is the product in that row (insured or uninsured). Equal rates keep alphabetical order: CMLS Financial is listed before Wealthsimple at the shared 4.49%. TD Bank's insured and uninsured rows are both 5.34%; the table shows insured.

Example on a $500,000 mortgage

Insured vs uninsured

This week's lowest labeled insured 5-year fixed is ATB Financial at 4.34%. Butler Mortgage is also insured, at 4.44%. The lowest labeled uninsured quote in the same table is RFA Bank at 4.29%. 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 5-year variable 3.25% insured at Butler Mortgage; nesto 3.41% insured), but they will move if prime moves after a future overnight-rate change.

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

More context: the mortgage guide covers product choice, qualification, and closing costs alongside these weekly numbers.