Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
5-Year Fixed Mortgage Rates Canada
Compare the best 5-year fixed rates from 25+ Canadian lenders. Updated daily.
Best Uninsured Rate
4.09%
Butler Mortgage
Best Insured Rate
4.06%
Coast Capital Savings
Average Rate
4.63%
Across 38 rates
Want to compare all rates?
See our full comparison with filters, lender details, and more.
Compare rates by type
Jump to today’s 5-year fixed, variable, insured, and uninsured mortgage rates.
Choosing a product?
Use the live 5-year tables, then read the decision guides before you lock a term or a down-payment path.
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.
Current 5-Year Fixed Rates
38 rates found| Lender | Type | Rate | Action |
|---|---|---|---|
| Royal Bank of Canada | Uninsured | 4.89% | View → |
| Royal Bank of Canada | Insured | 4.59% | View → |
| TD Bank | Insured | 4.94% | View → |
| TD Bank | Uninsured | 4.94% | View → |
| Bank of Montreal | Insured | 4.84% | View → |
| Bank of Montreal | Uninsured | 4.94% | View → |
| Scotiabank | Uninsured | 4.90% | View → |
| Canadian Imperial Bank of Commerce | Uninsured | 4.94% | View → |
| Canadian Imperial Bank of Commerce | Insured | 4.59% | View → |
| National Bank of Canada | Uninsured | 4.84% | View → |
| nesto | Insured | 4.39% | View → |
| nesto | Uninsured | 4.89% | View → |
| Tangerine | Uninsured | 4.69% | View → |
| Simplii Financial | Uninsured | 4.94% | View → |
| Simplii Financial | Insured | 4.59% | View → |
| Alterna Bank | Insured | 4.44% | View → |
| Alterna Bank | Uninsured | 4.74% | View → |
| Wealthsimple | Insured | 4.19% | View → |
| Meridian Credit Union | Uninsured | 4.64% | View → |
| Meridian Credit Union | Insured | 4.29% | View → |
Mortgage Negotiation Guide
Save $5,000-$25,000 with insider secrets banks don't want you to know.
Learn MoreFrequently Asked Questions
What is the current best 5-year fixed mortgage rate in Canada?
The best 5-year fixed rate is currently 4.09% for uninsured mortgages from Butler Mortgage, and 4.06% for insured mortgages from Coast Capital Savings. Rates change daily, so check back often.
Should I choose a 5-year fixed rate now?
A 5-year fixed rate provides payment stability for 5 years. It's ideal if you want budgeting certainty and believe rates may rise. Currently, fixed rates are competitive with variable rates, making them attractive for risk-averse borrowers.
What is the difference between insured and uninsured 5-year fixed rates?
Insured rates are for mortgages with less than 20% down payment (requiring CMHC insurance). They are typically 0.2-0.5% lower than uninsured rates because the lender has protection against default. Uninsured rates are for mortgages with 20%+ down payment.
Can I break a 5-year fixed mortgage early?
Yes, but you'll pay a prepayment penalty. For fixed-rate mortgages, this is typically the greater of 3 months' interest or the Interest Rate Differential (IRD). Use our Penalty Calculator to estimate your cost.
How do I qualify for the best 5-year fixed rate?
To get the best rate: have good credit (680+), stable income, low debt-to-income ratios (GDS ≤ 39%, TDS ≤ 44%), and 20%+ down payment (for uninsured rates). Shop with multiple lenders or use a mortgage broker. Digital brokerages such as Wealthsimple often show competitive insured 5-year specials—compare their lender page with this table on the same insured vs uninsured label.
Explore More Calculators
Try these other free Canadian mortgage tools to plan your home purchase.