Current Mortgage Rates in Canada
Finding the best mortgage rate can save you thousands over the life of your loan. Compare the latest 5-year fixed and variable rates below.
5-Year Fixed
4.89%
Best available rate for insured mortgages.
5-Year Variable
5.95%
Based on current Bank of Canada prime rate.
Should You Choose Fixed or Variable?
Choosing between a fixed and variable rate depends on your risk tolerance. Fixed rates offer stability and peace of mind, while variable rates may offer savings if interest rates fall over your term.