Latest rates
What Canada's major lenders advertise publicly, across insured, insurable and uninsured. A verified professional can usually do better. No personal information required.
Last Updated : Oct 10, 2026
Manulife Bank of Canada
5 year fixed
InsuredRate 5.39%
Equitable Bank of Canada
5 year fixed
InsuredRate 5.59%
TD Canada Trust
5 year fixed
InsuredRate 6.09%
Bank of Montreal
5 year fixed
InsuredRate 6.09%
National Bank of Canada
5 year fixed
InsuredRate 6.14%
Desjardins Group
5 year fixed
InsuredRate 6.14%
Royal Bank of Canada
5 year fixed
InsuredRate 6.19%
Scotiabank Canada
5 year fixed
InsuredRate 6.19%
Canadian Imperial Bank of Commerce
5 year fixed
InsuredRate 6.49%
Home Trust Company
5 year fixed
InsuredRate 6.51%
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We check each lender's posted rates every business day and stamp the date on the table. If a rate has changed, we update it.
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Editorial independence. No lender pays for placement, and the order is always lowest rate first, never by commercial relationship.
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Posted, not promotional. Lenders discount from these, and a verified professional can tell you by how much.
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Mortgage rates in Canada move with the Bank of Canada's policy rate, but the two are not the same thing. The BoC rate sets the cost of borrowing for the banks, and lenders use that to adjust their own rates, based on funding costs, risk, competition and profit.
That is why rates shift, even when the BoC doesn't meet.
Two types of rates shown on this page: fixed and variable. A fixed rate, driven by the Government of Canada's bond yields, stays the same for the length of your term, even if the broader rate environment changes. Historically, five-year terms are the most popular choice in Canada. A variable rate moves with the lender's prime rate, which tracks the BoC rate closely. Depending on your lender's product structure, your payment can rise or fall over the term.
The table also separates rates by insured, insurable and uninsured. If your down payment is under 20%, your mortgage is insured, meaning default insurance protects the lender if you can't pay, which is why these rates tend to be the lowest. If your down payment or equity is greater than 20% of the home's value, you may qualify for an insurable rate, which sits between the other two types. Uninsured mortgages carry no default insurance at all and typically come with the highest rate of the three.
The rates listed here are posted rates from some of the largest lenders we track and verify. Treat posted rates as a starting point, not always what you'll pay. Lenders regularly offer better pricing than their posted rates, especially for strong borrowers whose profile exceeds typical requirements around credit, employment, net worth and sometimes an existing relationship with the bank. That's one of the main reasons to talk to a mortgage professional rather than assuming the posted number is final.
Term length matters as much as the rate itself. A shorter term, like one to three years, can offer benefits such as a lower rate and lower break penalties, but comes with more exposure to the rate environment. A longer term, such as five plus years, typically carries a higher rate, but guarantees payment certainty for a longer time.
Amortization is how long you take to pay off your mortgage, a separate decision that affects your payment size and the total interest paid over the mortgage, independent of your rate.
At the end of your term, you'll renew. Your existing lender will provide new rates, while you're free to switch to a new lender, sometimes with incentives to do so.
The posted number is where the conversation starts, not where it ends. Run your own balance, term and amortization against today's verified rates before you assume what you can carry.
A verified professional can tell you what you would actually be offered, and what it costs to break a term early.
Your balance, term and amortization against today's verified rates.
Work back from your income and down payment to a purchase price you can hold.
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Rate decisions, planning context, and new calculator releases in plain language.