Canadian mortgage rates
Compare rates by the scenario lenders actually price
Canadian mortgage rates are scenario-based, not universal. Purchase vs refinance, down payment or equity, occupancy, amortization, term, and insurance status all change what a lender can actually offer.
Use this page to review the main rate paths, compare live public examples, and open the Rate Explorer when you want a lender-by-lender comparison.
Best starting points
Use this page to find the right rate path first
- See the main rate categories before you open the full explorer.
- Compare public examples with the right context around insured, renewal, and refinance pricing.
- Move into the explorer, calculators, or an application only when you are ready.
Best-of rate categories that lead into the full cluster
These are live public rate examples pulled from real lender pricing. Start with the scenario that matches your file, then open the matching page or the full explorer to compare the field in more detail.
Most common term
5-year fixed
A strong starting point for borrowers prioritizing stability over rate volatility.
Live public rate
4.19%
CoastCapital Savings
Standard
Prime-linked option
5-year variable
Useful when you want a lower starting rate and can handle prime-driven changes.
Live public rate
3.75%
Neo Financial
Insurable 75.01–80% LTV
High-ratio purchase
Insured purchase
Scenario-based pricing for less than 20% down, where insurer eligibility matters.
Live public rate
3.94%
Prospera
Standard
Conventional purchase
20% down purchase
A clearer view of conventional pricing when you have more equity or a larger down payment.
Live public rate
4.19%
CoastCapital Savings
Standard
Equity strategy
Refinance
Use this path when penalties, legal costs, and breakeven matter alongside the headline rate.
Live public rate
4.24%
B2B Bank
Standard
Maturity planning
Renewal
Compare before you sign the lender's first renewal offer and before you lose negotiating leverage.
Live public rate
3.99%
Marathon Mortgage
5 Year Promo Rate (60 day)
What changes your rate
Transaction type
Purchase, renewal, refinance, and HELOC files price differently because lender risk, underwriting, and insured eligibility change.
Why lenders care
Lenders price purchases, refinances, renewals, and HELOCs in separate buckets before the headline rate ever shows up.
Choose the right rate path
| If you need | Start here | Why |
|---|---|---|
| Stable payment and predictable cash flow | Fixed mortgage rates Best starting point when payment certainty matters more than flexibility. | Best starting point when payment certainty matters more than flexibility. |
| Lower starting rate with prime-rate exposure | Variable mortgage rates Best for borrowers who can handle payment or amortization changes if prime moves. | Best for borrowers who can handle payment or amortization changes if prime moves. |
| Less than 20% down on a purchase | Insured mortgage rates High-ratio pricing can be sharper, but insurance premiums still affect total cost. | High-ratio pricing can be sharper, but insurance premiums still affect total cost. |
| 20% down or higher equity | Uninsured mortgage rates Useful for conventional purchases, switches, and equity-rich files where flexibility matters. | Useful for conventional purchases, switches, and equity-rich files where flexibility matters. |
| An upcoming maturity date | Renewal mortgage rates Compare early instead of auto-renewing at the first rate your current lender sends. | Compare early instead of auto-renewing at the first rate your current lender sends. |
| Equity takeout, debt consolidation, or payment reset | Refinance mortgage rates Rates alone do not decide a refinance. Penalties, fees, and breakeven matter too. | Rates alone do not decide a refinance. Penalties, fees, and breakeven matter too. |
| Flexible revolving access to home equity | HELOC rates Best for borrowers comparing revolving credit, readvanceable structures, or renovation access. | Best for borrowers comparing revolving credit, readvanceable structures, or renovation access. |
How to use the rate workflow
Step 01
Pick the right rate path
Start with the category that matches your real scenario: purchase, renewal, refinance, insured, uninsured, variable, fixed, or HELOC.
Step 02
Refine in the Rate Explorer
Filter by term, rate type, transaction, occupancy, amortization, and equity or down payment so the results look more like a real file.
Step 03
Save, compare, and move forward
Create a free account when you want to save scenarios, request a rate hold, compare options with calculators, or start an application.
How to read these rates
Use the headline rate to shortlist, then choose on fit
The best mortgage is the one that still works once penalties, prepayment room, insurer eligibility, closing timeline, lender policy, and post-funding flexibility are accounted for.
Answer first
How should borrowers use public mortgage rates?
Public mortgage rates are starting points, not approvals. Use them to compare the scenario a lender is pricing, then confirm the final rate against insurance status, loan-to-value, term, penalty rules, closing timeline, property type, and the documents a lender needs to approve the file.
Related Pragmatic pages
Frequently asked questions
Are the rates live?
Yes. Public rate cards update as lenders publish new pricing, but final approval still depends on the property, documentation, occupancy, insurance status, and lender policy at the time of application.
What affects the rate I see?
Transaction type, down payment or equity, occupancy, amortization, term length, rate type, insurance status, and sometimes credit or documentation quality can all change pricing.
Is the lowest rate always the best mortgage?
Not always. Penalties, prepayment privileges, portability, turnaround speed, and lender fit can matter just as much as the headline rate.
Can I lock a rate before I choose a lender?
Usually you need an application and a lender selection to secure a formal rate hold. The public explorer helps you narrow the field before you start that step.
Should I compare renewal and refinance rates the same way?
No. Renewal shopping focuses on term fit, features, and switching options. Refinancing adds penalties, legal fees, equity strategy, and a breakeven calculation.
Next step
Ready to narrow the field?
Open the full explorer for lender-by-lender comparisons, then save the scenario or start an application when you are ready to move from public examples into an actual file.