Mortgage Rates in Vancouver

Live national rates with Metro Vancouver PTT, credit-union, and first-time exemption 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 Vancouver shoppers

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

Vancouver shoppers use the same national mortgage rate sheet as the rest of Canada. The local stack is B.C. property transfer tax, possible additional foreign-buyer PTT, the speculation and vacancy tax in specified areas, and credit unions such as Vancity that many buyers compare with the Big 6.

City of Vancouver empty homes tax is municipal and separate from provincial PTT and SVT. Owner-occupiers are not the target; investors and vacant properties need local advice.
We do not quote a Vancouver benchmark price on this page. Pull a CMA, then stress-test the payment and cash-to-close.

B.C. PTT in Metro Vancouver

Metro Vancouver purchases pay B.C. property transfer tax on fair market value (1% / 2% / 3% / 5% brackets published by the province). Eligible first-time buyers can exempt PTT on the first $500,000; since 1 April 2024 the qualifying-home ceiling is $835,000 for the full program and under $860,000 for a partial phase-out. Many Vancouver proper purchases sit above those ceilings, so first-time status may not erase PTT. Specified areas also levy additional PTT on foreign entities (commonly 20%) and the provincial Speculation and Vacancy Tax. Confirm with your notary.

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 Vancouver average sale price.

B.C. property transfer tax calculator →

First-time buyers in Vancouver

Treat the B.C. first-time PTT program as price-sensitive. If the Vancouver home’s fair market value is above the provincial ceiling, you may pay full PTT even as a first-time buyer. FHSA and HBP still help the down payment.

Check FMV against the PTT program

The exemption wipes PTT on the first $500,000 of value only if the home qualifies. Above $860,000 (current provincial phase-out end) there is generally no first-time PTT relief.

Credit unions

Vancity and Coast Capital are part of a normal Metro Vancouver shopping list. Compare Mixer and other Vancity products on our Vancity lender page against monolines the same day.

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 Vancouver

Vancouver renewals often involve large remaining balances. Compare live 5-year fixed and variable hubs, and include B.C. credit unions—not only the bank that holds the current mortgage.

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 Vancouver buyers often compare

Vancity
Metro Vancouver credit union; compare Mixer and other products on the Vancity page.
Coast Capital
B.C. credit union often shopped alongside the big banks.

Vancouver mortgage FAQs

What are current mortgage rates in Vancouver?

See the live snapshot on this page. They are national lender postings, not a City of Vancouver rate. Credit unions may differ on the same day—open the Vancity and Coast Capital pages.

Does Vancouver have land transfer tax?

B.C. charges property transfer tax province-wide. Vancouver does not add a Toronto-style municipal LTT, but PTT plus possible additional foreign PTT and vacancy-related taxes can still dominate closing costs.

Will I get the first-time PTT exemption in Vancouver?

Only if you meet personal tests and the home’s fair market value is within the provincial program limits. Many Vancouver purchases are not. Ask your notary to model PTT before you remove subjects.

Are Vancity rates only for Vancouver?

Vancity is a Metro Vancouver credit union with membership rules. Its posted rates still compete with national lenders. Compare them in the live tables rather than assuming a local exclusive.

How do Surrey or Burnaby closing costs compare?

They pay the same B.C. PTT brackets. Differences are price, not a different tax statute. Additional foreign PTT and SVT still depend on designated-area rules.

Are Vancouver mortgage rates higher because homes are expensive?

The contract rate is still a national product rate. Higher prices in Vancouver mean a larger principal, so the same rate difference changes the payment more. Shop the live table on this page; do not assume a “Vancouver rate” or “Vancouver rate” exists.