Current Mortgage Rates
Compare today's best mortgage rates from Canada's top lenders. Find the lowest rates for fixed, variable, and all term lengths.
BOC Prime Rate
4.45%
5-Yr Posted
6.09%
Next BOC Rate Decision
Bank of Canada Announcement
36
Days Remaining
Wednesday, March 11, 2026
Prime rate may change following this announcement. Banks typically update within 1-2 business days.
Today's Best Mortgage Rates
Posted rates from Canada's major chartered banks (Source: Bank of Canada)
Today's Best Mortgage Rates
Compare discounted rates from Canada's top lenders. These are actual rates you can get - not posted bank rates.
Featured Mortgage Rates
Best discounted rates available today – sorted by lowest rate
| Term | Lender | Best Rate | You Save |
|---|---|---|---|
| 5-Year Variable | RFA Mortgage | 3.55% | 0.90% |
| 3-Year Fixed | National Bank | 3.74% | 2.35% |
| 4-Year Fixed | National Bank | 3.89% | 2.10% |
| 5-Year Fixed | CMLS Financial | 3.89% | 2.00% |
| 2-Year Fixed | CMLS Financial | 4.34% | 1.95% |
| 7-Year Fixed | First National | 4.74% | 1.45% |
| 1-Year Fixed | RFA Mortgage | 4.84% | 1.65% |
| 10-Year Fixed | First National | 5.14% | 1.65% |
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Get Pre-Approved Today* Rates shown are discounted rates for insured mortgages. Rates may vary based on credit profile, down payment, and property type. Subject to change without notice. OAC.
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Historical Rate Trends
Prime Rate & 5-Year Conventional Mortgage Rate from Bank of Canada
Current Rate
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Period Change
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How Mortgage Rates Are Determined
Understanding the factors that influence mortgage rates helps you make better decisions.
Fixed Rates
Fixed mortgage rates are primarily influenced by:
- Government Bond Yields: 5-year fixed rates track 5-year bond yields
- Inflation Expectations: Higher expected inflation = higher rates
- Lender Competition: More competition = lower spreads
Variable Rates
Variable rates are tied to the prime rate, which follows:
- BOC Overnight Rate: Prime typically moves with BOC decisions
- Monetary Policy: BOC raises rates to fight inflation
- Lender Discounts: The spread (Prime - X%) varies by lender
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