Summary:

The Bank Mortgages page allows you to compare current mortgage rates from various Canadian lenders.
Use this feature to find the best rate for your situation, whether you're buying a new home, renewing, or refinancing.

Note: Mobile browsers have a simplified UI which may not contain all controls. For best experience, a desktop browser is recommended.

How to access Bank Mortgages:

Navigate to the Mortgages section using the main menu.
Select Bank Mortgages to view current rates from lenders.

Filtering Mortgage Rates:

Filter	Description
Mortgage Type	Fixed or Variable rate mortgages.
Term	The length of the mortgage term (e.g., 1, 2, 3, 5 years).
Insured/Uninsured	Whether the mortgage requires CMHC insurance (down payment less than 20%).
Lender Type	Filter by bank, credit union, or alternative lenders.

Understanding the Rate Display:

Posted Rate: The advertised rate from the lender.
Special Rate: Promotional or discounted rates that may be available.
Rate Type: Fixed rates stay the same; Variable rates fluctuate with prime.

Reporting a Rate:

If you've received a different rate from a lender, you can report it to help other users:

Click the Report Rate button next to any mortgage product.
Enter the rate you were offered and any relevant details.
Community-reported rates help everyone find better deals.

Using a Rate in Calculators:

Click the Calculator icon next to any rate.
The rate and term will be pre-filled in the mortgage calculator.
Adjust other parameters like loan amount to see your estimated payment.

Tips:

Variable rates are typically lower but carry more risk if interest rates rise.
A longer term provides payment stability but may have a higher rate.
Always compare the total cost of the mortgage, not just the interest rate.
Consider breaking penalties when choosing term length.

Additional Information:

See the Payment Calculator help article to estimate payments for a specific rate.
See the Penalty Calculator help article to understand costs of breaking a mortgage early.