Mortgage Rates in Montreal

Live national rates with Montreal welcome-tax and notary closing notes.

By Andrew · Last reviewed October 14, 2026Sources: national posted rates from the lenders we track, plus the provincial or municipal tax rules described on this page. Confirm any rate with the lender.

Current mortgage rates for Montreal shoppers

These are live national postings from lenders we track (updated Oct 14, 2026)—not a made-up “average Montreal rate.” Lenders generally price the product and the borrower, not the city. Closing costs in Montreal still follow Quebec tax rules below.

Best 5-year fixed we track

4.29%

RFA Bank · uninsured

Best 5-year variable we track

3.25%

Butler Mortgage · insured

Compare all live rates →5-year fixed hub

Buying or renewing in Montreal

Montreal mortgages are still priced on national product rates. What is local is the municipal welcome tax (with extra Montreal brackets on higher-value properties), notary-led closings, and Quebec-centred lenders such as Desjardins and National Bank.

Copropriété (condo) documents and French contracts are normal. Lenders still want the same income and down-payment proofs.
We do not quote a Montreal average price. Model payments from your offer, not from a blog round number.

Montreal transfer duties (welcome tax)

Montreal charges droits de mutation on the purchase. The city uses the provincial bracket structure and adds higher rates on upper value slices (indexed each year—ask your notary for the current schedule). There is no Ontario-style first-time LTT refund. A notary registers the hypothec. Our land transfer tax calculator is a planning estimate for Quebec; Montreal’s extra brackets mean a notary quote is the source of truth.

Tax rules change. Confirm the figures with your lawyer or notary before you waive conditions. Amounts on this page follow the provincial and municipal programs described here. They are not a Montreal average sale price.

Quebec transfer duty calculator →

First-time buyers in Montreal

Montreal first-time buyers should budget the full welcome tax in cash unless a specific municipal program applies to that property. FHSA and HBP remain the main federal boosts.

Notary closing

Build notary fees and transfer duties into cash-to-close before you go firm. Do not assume an Ontario lawyer’s LTT worksheet.

FHSA

The First Home Savings Account lets eligible first-time buyers contribute up to $8,000 a year (lifetime $40,000). Contributions are tax-deductible and qualifying withdrawals for a first home are tax-free.

Home Buyers’ Plan

The RRSP Home Buyers’ Plan lets eligible first-time buyers withdraw up to $60,000 per person (couples can combine) to buy or build a home, then repay it over 15 years.

Stress test

Federally regulated lenders must qualify you at the greater of your contract rate plus 2% or the Bank of Canada’s qualifying rate. Run the numbers before you shop listings.

Renewing a mortgage in Montreal

Include Desjardins, National Bank, and Laurentian when you renew in Montreal, then compare with the Big 6 live tables on this site.

Shop before the lender’s offer

Your current lender’s renewal letter is a starting point, not a ceiling. Compare it with today’s posted 5-year fixed and variable rates on this site, then ask them to match.

Know the break cost

If you refinance or switch before maturity, the penalty can wipe out the rate savings. Estimate it with the penalty calculator before you sign a new term.

Lenders Montreal buyers often compare

Desjardins
Quebec’s largest credit-union movement; closings typically run through a notary.
National Bank
Montreal-based bank with a strong Quebec footprint.
Laurentian Bank
Quebec-based bank often compared with National Bank and Desjardins.

Montreal mortgage FAQs

What is Montreal’s welcome tax?

Municipal transfer duties on the purchase price, with extra city rates on higher-value homes. Your notary calculates the exact amount. It is not Toronto MLTT and not B.C. PTT.

Do I need a notary for a Montreal mortgage?

Yes for a standard purchase. The notary handles the deed and hypothec. Budget their fee separately from transfer duties.

Are Desjardins rates only for Quebec?

Desjardins is Quebec-centred. Compare live Desjardins rates with National Bank, Laurentian, and the Big 6 on this site.

Is there a first-time welcome-tax rebate in Montreal?

Do not assume an Ontario-style $4,000 refund. Ask the notary whether any borough or provincial measure applies to your file; budget the tax unless they confirm otherwise.

What is the welcome tax in Montreal?

Municipal transfer duties on the purchase. They are the Quebec counterpart to land transfer tax. Montreal uses extra high-value brackets; other municipalities generally follow the provincial formula. Ask your notary for the exact amount on your offer.

Do I need a notary to get a mortgage in Montreal?

Yes for a typical Quebec purchase. The notary registers the hypothec and disburses funds. That is different from most other provinces, where a real-estate lawyer often handles closing.