Mortgage Rates Canada: Current Rates by Term, Type and Loan-to-Value
The best mortgage rates in Canada today start at 4.19% on a 5-year fixed and 3.70% on a 5-year variable, from 47 banks, credit unions and monolines. Every rate is filtered the way lenders actually price it — by term, by type, and by whether your file is insured, insurable or uninsured. Enter your numbers and the board narrows to what you can really get.
Which shelf are you actually shopping? Enter the numbers and we will filter the board to the rates you can really get.
Loan-to-value 90.0% · insured
Under 20% down, so default insurance is mandatory and the premium is added to the mortgage.
Lenders ask our rates only be disclosed to potential borrowers.
Login to browse all lender rates & offers for each term by program choice.
| Lender | Term | Category | Rate | APR | |
|---|---|---|---|---|---|
| Insurable lender Sign in to see the lender | 1 yr fixed | Insurable ≤80% | 4.19% | — | Get this rate |
| Sign in to reveal | 1 yr fixed | Insurable ≤65% | 4.54% | — | Get this rate |
| Sign in to reveal | 1 yr fixed | Insurable ≤80% | 4.59% | — | Get this rate |
| Insurable lender Sign in to see the lender | 1 yr variablePrime + 0.00% | Insurable ≤80% | 4.95% | — | Get this rate |
| Insurable lender Sign in to see the lender | 2 yr fixed | Insurable ≤80% | 4.31% | — | Get this rate |
| Sign in to reveal | 2 yr fixed | Insurable ≤65% | 4.31% | — | Get this rate |
| Sign in to reveal | 2 yr fixed | Insurable ≤80% | 4.34% | — | Get this rate |
| Exclusive Lender Exclusive | 3 yr fixed | Insurable ≤80% | 4.19% | — | Get this rate |
| Sign in to reveal | 3 yr fixed | Insurable ≤80% | 4.29% | — | Get this rate |
| Sign in to reveal | 3 yr fixed | Insurable ≤80% | 4.29% | — | Get this rate |
| Insurable lender Sign in to see the lender | 3 yr variablePrime − 0.93% | Insurable ≤80% | 4.02% | — | Get this rate |
| Sign in to reveal | 3 yr variablePrime − 0.80% | Insurable ≤80% | 4.15% | — | Get this rate |
| Sign in to reveal | 3 yr variablePrime − 0.55% | Insurable ≤80% | 4.40% | — | Get this rate |
| Exclusive Lender Exclusive | 4 yr fixed | Insurable ≤80% | 4.29% | — | Get this rate |
| Sign in to reveal | 4 yr fixed | Insurable ≤80% | 4.39% | — | Get this rate |
| Sign in to reveal | 4 yr fixed | Insurable ≤65% | 4.59% | — | Get this rate |
| Exclusive Lender Exclusive | 5 yr fixed | Insurable ≤80% | 4.19% | — | Get this rate |
| Sign in to reveal | 5 yr fixed | Insurable ≤80% | 4.29% | — | Get this rate |
| Sign in to reveal | 5 yr fixed | Insurable ≤80% | 4.49% | — | Get this rate |
| Exclusive Lender Exclusive | 5 yr variablePrime − 1.25% | Insurable ≤80% | 3.70% | — | Get this rate |
| Sign in to reveal | 5 yr variablePrime − 1.15% | Insurable ≤80% | 3.80% | — | Get this rate |
| Sign in to reveal | 5 yr variablePrime − 1.15% | Insurable ≤80% | 3.80% | — | Get this rate |
| Exclusive Lender Exclusive | 7 yr fixed | Insurable ≤80% | 4.99% | — | Get this rate |
| Sign in to reveal | 7 yr fixed | Insurable ≤80% | 5.09% | — | Get this rate |
| Sign in to reveal | 7 yr fixed | Insurable ≤80% | 5.29% | — | Get this rate |
| Exclusive Lender Exclusive | 10 yr fixed | Insurable ≤80% | 5.29% | — | Get this rate |
| Sign in to reveal | 10 yr fixed | Insurable ≤80% | 5.39% | — | Get this rate |
| Sign in to reveal | 10 yr fixed | Insurable ≤65% | 5.39% | — | Get this rate |
No rates match that combination. Widen the filters — and remember the board is what we could verify this week, not every rate that exists.
Please Note: Some conditions may apply. Rates may vary from Province to Province. Rates are subject to change without notice. Posted rates may be high ratio and/or quick close, which differs from conventional rates. The mortgage rates are provided as guidance only, and the accuracy of these rates is not guaranteed. The rate provided by any financial institution listed, or any approval or decline you receive, will be based solely on your personal situation. You are strongly encouraged to speak with a licensed mortgage professional for the most accurate information and determine your eligibility.
Rates are the lowest we have collected for each combination and are not an offer or a commitment to lend by anyone. Every payment on this site uses semi-annual compounding, the Canadian standard.
Insured, insurable and uninsured mortgage rates
Almost every rate comparison site shows you one number. Lenders publish three, and which one applies to you is decided before your credit score is ever considered.
Under 20% down
You put less than 20% down and default insurance is on the file. The lender carries no loss exposure, so these are the lowest rates on the board — but the premium is added to your mortgage.
20%+ down, up to $1.5M property value, 25-year amortization
You put 20% or more down and the file fits portfolio-insurance rules, so the lender can back-end bulk insure it at its own cost — on property values up to $1.5M. Priced between insured and uninsured, and tiered by loan-to-value.
Refinances, $1.5M+, 30-year amortization, rentals
The lender keeps the full risk: refinances, properties above $1.5M, amortizations past 25 years, and rentals. Rates sit highest here, typically 20 to 40 basis points above insured.
Insured mortgage rates → Insurable mortgage rates → Uninsured (conventional) mortgage rates →
Fixed and variable mortgage rates by term
Mortgage rates by province
Mortgage rate questions
What are the best mortgage rates in Canada today?
On the board updated 2026-08-31, the lowest 5-year fixed is 4.19% (insurable) and the lowest 5-year variable is 3.70%, with prime at 4.95%. Which of those you can actually get depends on the shelf your file lands on — insured, insurable or uninsured — which is why the board asks for two numbers before it filters.
What is the difference between insured, insurable and uninsured?
Insured means less than 20% down with default insurance on the file — the lowest rates, because the lender carries no loss. Insurable means 20% or more down on a file the lender can still back-end bulk insure: up to $1.5M property value, 25-year amortization, owner-occupied. Uninsured is everything else — refinances, properties above $1.5M, 30-year amortizations, rentals — and prices highest.
Why does more money down sometimes mean a worse rate?
Because crossing 20% moves you off insured pricing. The premium disappears but the rate goes up. Between roughly 15% and 20% down the arithmetic can favour putting less down and paying the premium. It is worth running both before you decide.
How often do these change?
Every two to three business days, and immediately when the Bank of Canada moves. This board was last updated 2026-08-31.
Is the lowest rate the best deal?
Often not. The cheapest rates usually come with the tightest prepayment terms and the most punitive break penalties, and a fair share of files that break a five-year term early would have been better off a few basis points higher with a fair penalty clause. The rate is one term of the contract.
What is APR and why is it different from the rate?
APR folds the mandatory costs of the mortgage into the interest rate so two offers can be compared on one number. A lender with a low rate and a high fee can have a worse APR than a lender with a higher rate and none.
Sources and how to read this board
Rates are collected from lender rate sheets and checked by the RateShop rate desk; the board's own as-of date is printed on it. The rules the shelves follow are set by OSFI Guideline B-20 (the qualifying rate and stress test), the Department of Finance mortgage insurance rules ($1.5M price cap, 25-year amortization on insured files) and the three insurers — CMHC, Sagen and Canada Guaranty. Variable rates move with the Bank of Canada policy rate, through prime.
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The board is the shop window. Your file decides the price.
When you are ready to do something with these numbers, we will introduce you to a licensed broker who can put the file in front of lenders. Nothing here obliges you to.
