Marathon Mortgage
Insured
3.50%
5-year term
APR
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Marathon advertised starting rate; 5 year adjustable; insured/insurable; Prime minus 0.95%.
5-year variable mortgage rates
Ask about my rateCompare 5-year variable mortgage rates, prime discounts, payment-change risk, trigger-rate planning, conversion options, and total-cost tradeoffs.
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Top matches for this scenario
Showing the first 8 cards from 12 matching rates for Purchase · 5-year variable · $999,999 · $75,000 down.
Purchase5-year variable$999,999$75,000 down
variable
ATB Financial
Standard
3.60%
5-year term
APR
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Client Rates · Our featured offers · 5 Year Variable High Ratio.
Pine Mortgage
Insured – Featured
3.65%
5-year term
APR
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Pine featured Variable Mortgage Rate Variable; public insured reference rate, subject to Pine underwriting and change without notice.
Pine Mortgage
Insured – Additional
3.65%
5-year term
APR
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Pine additional 5-year Adjustable; public insured reference rate, subject to Pine underwriting and change without notice.
Envision Financial
Insured
3.70%
5-year term
APR
3.72%
Tru Cooperative public 5 year variable rate (closed) - insured; insured mortgage rate.
First National Financial
Insured
3.70%
5-year term
APR
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First National posted adjustable mortgage rate; Insured; Prime minus 0.75%.
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Understand the rate you’re looking at.
A 5-year variable mortgage has a five-year contract term while its interest rate moves with prime. The term length does not make the rate fixed. Compare the prime adjustment, whether payments change, trigger provisions, conversion pricing, and the cost of leaving early before relying on the initial discount.
Five-year variable terms offer flexibility and potential savings but require tolerance for rate changes.
- Rate
- Moves when the lender changes prime
- Contract
- Usually a closed five-year term
- Confirm
- Payment mechanics, trigger rules, and conversion options
The contract is five years; the rate is not
A five-year variable mortgage usually creates a closed five-year commitment while the interest rate moves with lender prime. The contractual term controls maturity and exit rules; it does not guarantee the rate or payment for five years.
Compare the prime adjustment, payment type, compounding, prepayment privileges, and break penalty as one package. The deepest discount is not enough if the payment mechanics do not fit the household.
Understand conversion before using it as a safety net
Many lenders permit conversion to a fixed term, but the offered rate may be the lender's current conversion rate rather than the sharpest market rate. The remaining fixed term may also need to meet a minimum length.
Treat conversion as a contractual option, not a guaranteed escape at a competitive price. Stress-test the variable mortgage as if you might need to hold it through volatility.
Before you accept an offer
- Prime-based discounts with scenario matching.
- Use trigger rate tools to plan for shifts.
- Compare effective costs with fixed options.
Clear answers
Before you decide
Can I lock into fixed later?
Some lenders allow conversion, but pricing depends on their conversion policy.
How often can variable payments change?
Payments may change whenever prime changes or at specific lender intervals.
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References
Use the regulator and consumer-agency guidance alongside the written terms of your lender’s offer.
Pragmatic Mortgage Lending · BC & Alberta
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