Updated every weekday
Today's Mortgage Rates
These are the ranges we see across the Canadian market — from the sharpest broker rates to typical advertised rates. Your rate depends on your down payment or equity, amortization, property and credit profile.
| Term | Market rate range |
|---|---|
| 5 Year Fixed | 3.94% – 4.39% |
| 3 Year Fixed | 3.84% – 4.34% |
| 5 Year Variable | 3.30% – 3.70% |
| Prime rate | 4.45% |
| Bank of Canada policy rate | 2.25% |
Rates shown are ranges observed in the Canadian market for illustration only, on approved credit (OAC), subject to change without notice, as of 2026-07-03. Where a specific rate is advertised for a fixed-amount mortgage, the APR equals the rate unless non-interest charges apply. Not an offer of credit.
How to read this table
- The low end is roughly the best insured rate in the market — usually for purchases with less than 20% down (default-insured mortgages get the sharpest pricing).
- The high end reflects typical advertised broker/bank rates before negotiation.
- Prime drives variable-rate mortgages and HELOCs, and moves with the Bank of Canada policy rate. Remaining BoC announcement dates in 2026: July 15, September 2, October 28, December 9.
What about reverse mortgage rates?
Reverse mortgage rates run higher than the conventional rates above — generally in the 6.5%–8.5% range in 2026, depending on lender, product and term. Because lender rate sheets change frequently and each carries its own APR, we share current reverse mortgage rates with your personalized estimate rather than publishing numbers that could be stale tomorrow.