Today's Mortgage Rates
Best-available pricing across our 50+ lender panel, updated regularly. Your actual rate depends on your specific file — these are the benchmarks to compare against.
Rates last updated: July 1, 2026 — rates need manual update from lender portal
These rates represent best-available pricing from our lender panel for qualified borrowers. Your specific rate depends on your credit profile, down payment, property type, and lender. Contact us for a personalized rate.
Fixed rates give you payment certainty. You know exactly what you're paying for the full term regardless of what the Bank of Canada does. That certainty has real value — for household budgeting, for stress reduction, and for situations where you genuinely can't absorb payment increases.
Variable rates have historically been cheaper over long periods, but that historical advantage comes with real volatility. The past few years demonstrated what a rapid rate hiking cycle looks like — variable rate holders saw significant payment increases in a short time. Whether that risk is worth the potential savings depends on your financial cushion, your risk tolerance, and the current spread between fixed and variable options.
One structural advantage of variable: the prepayment penalty to break a variable rate mortgage is almost always just three months' interest. Breaking a fixed-rate mortgage triggers the Interest Rate Differential (IRD) calculation, which can be significantly larger. If there's any chance you'll move, sell, or refinance before the term ends, the penalty math matters.
We'll walk through both scenarios for your specific situation — not just quote you the lower number and call it done. The right choice is different case by case.
Rate comparison sites show "best available" rates without qualifying your file against those rates. The rate advertised for a 5-year fixed assumes an insured buyer with excellent credit, T4 employment income, and a standard property type. If your situation differs in any way — self-employed, 20%+ down, refinance rather than purchase — the rate that applies to you is different.
That's not a trick. It's how mortgage pricing works — different risk profiles get different rates, and different lenders price different profiles differently. Our job is to match your specific file to the lender whose pricing is most competitive for your actual situation, not the headline rate situation.
The rates on this page are benchmarks. Your actual rate depends on your specific file. Let's find out what's available to you.
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Mortgage Calculator →Common questions
Fixed rates give payment certainty for the term. Variable rates have historically been cheaper long-term but move with the Bank of Canada. The right answer depends on your risk tolerance, how long you plan to hold the mortgage, and the current spread between fixed and variable options. We'll walk through the math for your specific situation — it's not a one-size-fits-all answer.
The Bank of Canada overnight rate directly influences lenders' prime rates. Variable-rate mortgages and HELOCs move with prime. Fixed mortgage rates track Government of Canada bond yields instead — so fixed and variable rates can move independently, sometimes in opposite directions.
When CMHC, Sagen, or Canada Guaranty insures your mortgage, they're taking on the default risk — the lender is protected if you can't pay. Less risk to the lender means a lower rate. This is counterintuitive: borrowers with less than 20% down (who pay the CMHC premium) often get better rates than those putting 20%+ down, because insured mortgages carry lower lender risk.
No. These represent best-available pricing from our lender panel at the time of last update. Your actual rate depends on your full file — credit score, income type, down payment, property type, and amortization. Contact us for a personalized rate that's specific to your situation and locked with a rate hold.
Let's find out what's available for your specific file — not the headline rate for an idealized borrower.