Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
Uninsured Mortgage Rates Canada
Best rates for conventional mortgages with 20% or more down payment. No CMHC insurance required. Compare 33+ lenders.
Best 5-Year Fixed
3.99%
Butler Mortgage
Best 5-Year Variable
3.65%
Equitable Bank
Average Rate
4.84%
Across 203 rates
Compare all mortgage types
See insured, uninsured, fixed, and variable side by side.
Current Uninsured Rates
203 rates found| Lender | Term | Type | Rate | Action |
|---|---|---|---|---|
| Royal Bank of Canada | 3-Year | Fixed | 4.74% | View → |
| Royal Bank of Canada | 5-Year | Fixed | 4.89% | View → |
| Royal Bank of Canada | 5-Year | Variable | 3.95% | View → |
| Royal Bank of Canada | 1-Year | Fixed | 4.89% | View → |
| Royal Bank of Canada | 2-Year | Fixed | 4.79% | View → |
| Royal Bank of Canada | 4-Year | Fixed | 4.84% | View → |
| Royal Bank of Canada | 7-Year | Fixed | 5.00% | View → |
| Royal Bank of Canada | 0.5-Year | Fixed | 5.49% | View → |
| Bank of Montreal | 3-Year | Fixed | 4.39% | View → |
| Bank of Montreal | 5-Year | Fixed | 4.64% | View → |
| Bank of Montreal | 5-Year | Variable | 4.15% | View → |
| Scotiabank | 5-Year | Variable | 4.90% | View → |
| Canadian Imperial Bank of Commerce | 3-Year | Fixed | 4.39% | View → |
| Canadian Imperial Bank of Commerce | 3-Year | Variable | 4.15% | View → |
| Canadian Imperial Bank of Commerce | 5-Year | Fixed | 4.54% | View → |
| Canadian Imperial Bank of Commerce | 1-Year | Fixed | 5.74% | View → |
| Canadian Imperial Bank of Commerce | 2-Year | Fixed | 4.99% | View → |
| Canadian Imperial Bank of Commerce | 4-Year | Fixed | 4.84% | View → |
| Canadian Imperial Bank of Commerce | 5-Year | Variable | 4.15% | View → |
| National Bank of Canada | 3-Year | Fixed | 4.69% | View → |
Frequently Asked Questions
What is an uninsured (conventional) mortgage?
An uninsured mortgage requires at least 20% down payment. You don't pay CMHC insurance premiums, and you can amortize up to 30 years instead of 25. These mortgages offer more flexibility for refinancing and accessing home equity.
Why are uninsured rates higher than insured rates?
Uninsured rates are typically 0.2-0.5% higher because the lender takes on more risk without insurance protection. However, you save the CMHC premium (0.6-4.0% of the mortgage), which often outweighs the slightly higher rate.
Should I put 20% down to avoid CMHC?
It depends. With 20% down you avoid CMHC premiums (~$10,000-$20,000 savings) and get a 30-year amortization option. But if you only have exactly 20%, keeping some cash for emergencies or investments may be smarter. Run the numbers with our calculators.
Can I switch from insured to uninsured?
Yes, once you have 20% equity, you can refinance to an uninsured mortgage at renewal. This removes CMHC restrictions and may give you better terms. However, you'll face the then-current interest rates and closing costs.
What are the benefits of an uninsured mortgage?
Benefits include: no CMHC premiums, 30-year amortization (lower payments), easier refinancing, ability to access up to 80% of home equity (vs. 65% for insured), and no insurance restrictions on property type or use.
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