Mortgage intelligence
Mortgage rates in Canada
Official benchmark and average mortgage rates from the Bank of Canada. These are not offers from any lender. Posted rates are list rates that banks publish; borrowers often negotiate lower rates, which is why the average rates on new mortgages below are usually lower.
Benchmark rates
Bank of Canada policy rate
2.50%
Nov 11, 2026 · Bank of Canada
Prime rate
4.70%
Nov 11, 2026 · Bank of Canada
5-year Government of Canada bond yield
3.46%
+0.11 pts since Nov 9, 2026
Nov 10, 2026 · Bank of Canada
1-year conventional mortgage (posted)
5.49%
Nov 4, 2026 · Bank of Canada
3-year conventional mortgage (posted)
6.05%
Nov 4, 2026 · Bank of Canada
5-year conventional mortgage (posted)
6.19%
Nov 4, 2026 · Bank of Canada
Average rates on new mortgages (chartered banks)
Average interest rate on residential mortgage funds advanced by chartered banks in Aug 2026, by term. Insured mortgages have default insurance (generally under 20% down).
| Term | Insured | Uninsured |
|---|---|---|
| Variable rate | 3.74% | 3.90% |
| Fixed rate, <1 year | 7.52% | 7.38% |
| Fixed rate, 1 to <3 years | 4.94% | 5.31% |
| Fixed rate, 3 to <5 years | 4.02% | 4.13% |
| Fixed rate, 5 years and over | 4.12% | 4.58% |
Estimate a payment
Use these rates in the mortgage calculator, which applies Canadian semi-annual compounding, the federal stress test and CMHC insurance premiums.
Sources
- Bank of Canada, Valet API: policy interest rate (V39079), prime rate (V80691311), conventional mortgage rates (V80691333–V80691335), 5-year benchmark bond yield (BD.CDN.5YR.DQ.YLD).
- Bank of Canada, Interest rates charged for new and existing lending by chartered banks – mortgages (group A4_RATES_MORTGAGES).