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Summary:
The Bank Mortgage Rates page displays current mortgage rates offered by Canadian lenders.
Rates are updated regularly and include both posted (advertised) rates and community-reported rates that reflect actual discounts borrowers are receiving.
Note: Mobile browsers have a simplified UI which may not contain all controls. For best experience, a desktop browser is recommended.
How Rates Are Displayed:
| Column | Description |
|---|---|
| Name | The lender and mortgage product description, including term length and type. |
| Avg Rate | The average rate combining posted rates and community-reported discounts. |
| Direction Arrow | An up or down arrow indicates whether the average rate has recently increased or decreased. |
Fixed vs. Variable Rates:
- Fixed Rate: The interest rate is locked in for the entire mortgage term. Your payments stay the same regardless of market changes.
- Variable Rate: The interest rate fluctuates with the lender's prime rate. Your payment amount may change during the term.
Rate Ranges:
Hover over any rate to see the full range:
- Fixed Mortgages: Shows the minimum reported rate through to the posted rate.
- Variable Mortgages: Shows the calculated minimum variable rate through to the calculated standard variable rate.
Understanding Average Rates:
The average rate shown in the grid is a blended figure that takes into account:
- The lender's official posted rate.
- Community-reported rates from real borrowers who share what they were actually offered.
This gives you a more realistic picture of what rate you can expect when negotiating with a lender.
Insured vs. Uninsured Mortgages:
- Insured: Required when your down payment is less than 20%. Mortgage insurance (e.g., CMHC) is added to the mortgage. Insured rates are often lower.
- Uninsured: Available when your down payment is 20% or more. No insurance premium, but rates may be slightly higher.
Tips:
- Use the filters to narrow results by mortgage type, term, insured/uninsured status, and lender type.
- Compare the average rate, not just the posted rate — community data often reveals better deals.
- A small rate difference (e.g., 0.10%) can save thousands over the life of a mortgage.
- Use the Calculator feature on any rate to see how it translates into actual payments.
Additional Information:
- See the Bank Mortgages Comparison help article for a broader overview of the comparison page.
- See the Reporting Rates help article to learn how you can contribute your own rate data.
- See the Payment Calculator help article to estimate monthly payments for a specific rate.