We shop the most competitive brokers, lenders and banks in Canada to bring you today's lowest interest rates, free of charge! Our Canadian comparison charts list current rates, and are updated on a daily basis. To compare a certain category, click on the "See All" button for more details.
Rates Updated:
Bank of Canada Rates
Prime ratePrime rateVariable mortgage rates are quoted as Prime plus or minus a constant. For example: Prime + .10% or Prime - 0.90%. When there is a change in the prime rate, your variable rate mortgage adjusts accordingly.
3.00%
Qualifying rateQualifying rateFor a variable mortgage or fixed mortgage with a 1-4 year term, lenders are required to use the qualifying rate when determining how much you can afford. Therefore if say, a variable rate increases in the future, you will still be able to afford your mortgage payments.
5.44%
Closed mortgage rates
Closed mortgage ratesClosed mortgage rates are the most popular, standard form in Canada. A closed mortgage simply means you pay off your principal on a pre-determined schedule. If you want to put a lump sum against your principal beyond your pre-payment options, you will incur a penalty.