Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
TD vs RBC Mortgage Rates
TD vs RBC is a Big 5 vs Big 5 comparison: both originate their own mortgages, both have national branches, and both publish posted rates that are not the special you should shop. The useful differences are product packaging (TD Home Equity FlexLine vs RBC Homeline Plan), how sharp today's discounted 5-year is, and whether you already have a relationship that will actually be priced. Live cells below come from our daily feed — we do not invent a “typical TD vs RBC spread.”
Percentages below are live from our daily lender feed. A dash means that product is not in today's scrape — we do not invent a current rate. Always confirm with the lender.
Live TD vs RBC rates
| Product | TD | RBC | Lower in today's feed |
|---|---|---|---|
| 5-year fixed insured | 4.94% | 4.59% | Royal Bank of Canada |
| 5-year fixed uninsured | 4.94% | 4.89% | Royal Bank of Canada |
| 5-year variable insured | — | 3.65% | Royal Bank of Canada |
| 5-year variable uninsured | 4.24% | 3.95% | Royal Bank of Canada |
When to choose TD
Big 5 lender with FlexLine, newcomer programs, and a large branch plus digital network. Shop the discounted special, not the posted rate.
- ✓You already bank at TD and a relationship special is on the table in writing
- ✓You want a FlexLine (mortgage segment plus revolving HELOC segment)
- ✓You need in-person specialists or newcomer documentation TD will actually underwrite
- ✓TD's live 5-year cell beats RBC's on the same insured vs uninsured label
When to choose RBC
Canada's largest bank by many measures, with Homeline Plan (HELOC up to a stated equity cap) and long rate-hold windows on pre-approvals.
- ✓You already bank at RBC or want Homeline-style equity access
- ✓A longer rate hold on a pre-approval (RBC commonly advertises up to 120 days) matters for your closing
- ✓RBC's live 5-year insured or uninsured cell is the lower special today
- ✓You want a full-service bank and are not trying to win a monoline bake-off on rate alone
TD vs RBC: pros and cons
TD Bank
Pros
- +National branch access and mortgage specialists
- +Home Equity FlexLine for unused equity without a full refinance every time
- +Broad conventional term sheet in our feed (not only a 5-year poster)
- +Easy to pair with the on-site affordability calculator using a TD rate
Cons
- −Posted 5-year is not the contract rate most qualified borrowers pay
- −May trail monolines and brokered insured specials on a blind rate shop
- −Breaking a closed fixed TD mortgage can mean an IRD penalty
RBC Royal Bank
Pros
- +Homeline Plan combines mortgage and HELOC-style equity access
- +Pre-approval rate holds are a practical shopping window when used correctly
- +Deep branch and advisor network coast to coast
- +Competes on both insured and uninsured 5-year cells in our feed
Cons
- −Posted rates still need a negotiated special to be comparable
- −Convenience does not automatically beat a brokered or monoline 5-year
- −IRD math on a closed fixed can surprise you if you break early
How to decide
Demand the special, then compare the same cell
Ask each bank for the discounted rate in writing: term, insured vs uninsured, cash-back yes/no, and prepayment rules. Then compare those numbers with the live table here and with the 5-year fixed and variable hubs.
Pick the equity product you will actually use
FlexLine vs Homeline is the structural fork. If you will not use a HELOC segment, ignore the brand names and shop the 5-year payment. If you will, read each bank's current combined LTV caps — they are policy, not a promise on this page.
Relationship pricing is real but not automatic
A long-standing TD or RBC relationship can improve the special. It does not waive the stress test. Run affordability and the stress-test qualifier with the contract rate, not the posted rate.
Keep a digital or monoline quote as a check
Before you accept either bank, look at Wealthsimple vs TD and nesto vs Wealthsimple on the same label. A Big 5 vs Big 5 bake-off can still leave money on the table.
Mortgage Negotiation Guide
Save $5,000-$25,000 with insider secrets banks don't want you to know.
Learn MoreLive rate hubs
Jump from this comparison into today's 5-year fixed, variable, insured, and uninsured tables.
Calculators and the negotiation guide
Run the payment, affordability, and stress-test numbers on a live contract rate, then use the mortgage guide when you negotiate.
Mortgage comparison guides
Fixed vs variable, insured vs uninsured, and lender vs lender — with live rates from the same feed as our hubs.
Product
Fixed vs Variable
The contract rate stays the same for the term. Best when you want a known payment and can live with a higher break penalty.
Product
Insured vs Uninsured
Less than 20% down on an eligible owner-occupied purchase. Default insurance is required; the premium is usually added to the loan.
Lender vs lender
Wealthsimple vs TD
Licensed digital brokerage. Brokers shop partner lenders. Cash-back promos may apply on new mortgages; coverage is not Canada-wide.
Lender vs lender
nesto vs Wealthsimple
Digital mortgage lender with an advertised low-rate guarantee, 150-day rate holds, and a fully online application backed by licensed experts.
Lender vs lender
BMO vs CIBC
Big 5 lender with Smart Fixed mortgages, a full HELOC, and online pre-approval. Competitive when the discounted special is in writing.
Frequently Asked Questions
Is TD or RBC cheaper for a 5-year fixed mortgage today?
In today's feed, TD's 5-year fixed insured is 4.94% (TD Bank) and RBC's is 4.59% (Royal Bank of Canada). Uninsured 5-year fixed is 4.94% (TD Bank) at TD and 4.89% (Royal Bank of Canada) at RBC. Those are scraped specials, not posted rack rates.
How do TD and RBC variable rates compare?
TD's 5-year variable uninsured is 4.24% (TD Bank) in today's feed. RBC's 5-year variable insured is 3.65% (Royal Bank of Canada) and uninsured is 3.95% (Royal Bank of Canada). Match the insurance label before you call a winner.
What is the difference between TD FlexLine and RBC Homeline?
Both are readvanceable-style packages: a mortgage portion plus a revolving equity line, subject to combined loan-to-value rules. Names, caps, and how principal readvances differ by bank. Confirm the current product sheet. If you only need a closed 5-year, you may not need either structure.
Should I stay with my current Big 5 bank at renewal?
Only after you price an external switch. Use the renewal calculator and a live 5-year from this table or the rate hubs. Loyalty specials exist; they are not guaranteed to match a monoline or brokered insured quote.
Do TD and RBC use the same stress test?
Both are federally regulated banks. New purchases and refinances use the OSFI qualifying-rate test. Estimate GDS/TDS with the stress-test qualifier and the affordability calculator using the contract rate you were quoted.
Are posted TD and RBC rates the rates I will pay?
Usually not. Posted 5-year rates are starting points. The live numbers on this site are the specials we scrape. Always get the discounted contract rate, term, and insured vs uninsured label in writing.
Can I use a mortgage broker and still land at TD or RBC?
Sometimes, depending on the bank's broker channel and the product. Wealthsimple and other brokerages shop partners that may or may not include a given Big 5 special. If you need FlexLine or Homeline specifically, you may be better originating directly with the bank.
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