Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
Insured Mortgage Rates Canada
Best rates for mortgages with less than 20% down payment. Compare high-ratio and CMHC-insured rates from 15+ lenders.
Best 5-Year Fixed
4.06%
Coast Capital Savings
Best 5-Year Variable
3.44%
Meridian Credit Union
Average Insured Rate
4.46%
Across 50 rates
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See insured, uninsured, fixed, and variable side by side.
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Jump to today’s 5-year fixed, variable, insured, and uninsured mortgage rates.
Choosing a product?
High-ratio specials are often cheaper on rate — the insurance premium still has to be priced, and you still pick fixed vs variable.
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 Insured Rates
50 rates found| Lender | Term | Type | Rate | Action |
|---|---|---|---|---|
| Royal Bank of Canada | 5-Year | Fixed | 4.59% | View → |
| Royal Bank of Canada | 5-Year | Variable | 3.65% | View → |
| TD Bank | 5-Year | Fixed | 4.94% | View → |
| TD Bank | 6-Year | Fixed | 5.99% | View → |
| TD Bank | 7-Year | Fixed | 6.09% | View → |
| TD Bank | 10-Year | Fixed | 6.10% | View → |
| TD Bank | 3-Year | Fixed | 5.80% | View → |
| TD Bank | 4-Year | Fixed | 4.82% | View → |
| Bank of Montreal | 5-Year | Fixed | 4.84% | View → |
| Canadian Imperial Bank of Commerce | 5-Year | Fixed | 4.59% | View → |
| Canadian Imperial Bank of Commerce | 5-Year | Variable | 3.95% | View → |
| nesto | 5-Year | Fixed | 4.39% | View → |
| nesto | 5-Year | Variable | 3.45% | View → |
| Simplii Financial | 5-Year | Fixed | 4.59% | View → |
| Simplii Financial | 5-Year | Variable | 3.95% | View → |
| Alterna Bank | 3-Year | Fixed | 4.29% | View → |
| Alterna Bank | 5-Year | Fixed | 4.44% | View → |
| Alterna Bank | 5-Year | Variable | 3.70% | View → |
| Wealthsimple | 5-Year | Fixed | 4.19% | View → |
| Wealthsimple | 5-Year | Variable | 3.45% | View → |
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Learn MoreFrequently Asked Questions
What is an insured mortgage?
An insured mortgage (also called high-ratio) is required when your down payment is less than 20% of the purchase price. You pay mortgage default insurance (CMHC, Sagen, or Canada Guaranty) to protect the lender. The insurance premium is typically added to your mortgage balance.
Why are insured rates lower than uninsured rates?
Insured rates are 0.2-0.5% lower because the lender faces less risk. If you default, the insurer pays the lender. This government-backed protection allows lenders to offer better rates on insured mortgages.
How much is CMHC insurance?
CMHC premiums range from 0.6% to 4.0% of your mortgage amount, depending on your down payment percentage. With 5% down, you pay 4.0%. With 15% down, you pay 2.8%. Estimate yours with the CMHC calculator.
Can I get rid of mortgage insurance?
Yes — once you have 20% equity in your home, you can refinance to an uninsured mortgage. However, you'll pay closing costs and may face a higher interest rate. The savings on insurance premiums need to outweigh these costs.
Do I qualify for an insured mortgage?
To qualify: minimum 5% down payment (10% for homes $500k-$999k, 20% for $1M+), credit score 600+, maximum amortization 25 years, GDS ≤ 39%, TDS ≤ 44%, and the home must be your primary residence.
Explore More Calculators
Try these other free Canadian mortgage tools to plan your home purchase.