Variable mortgage rates

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Compare Canadian variable mortgage rates tied to prime, payment risk, trigger-rate planning, stress-test assumptions, and lender conversion rules.

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Pragmatic rate snapshot

What changes with the mortgage type?

5-year variable advertised offers available in BC. Compare the lowest APR with the median of each lender’s lowest APR in our catalogue. These are different eligibility categories, before matching your income, property and mortgage amounts.

Current advertised mortgage rate categories, lender coverage and APR distribution
Mortgage type	Lowest APR	Median lender APR	Lenders
Insured purchase	3.50%	3.71%	14
Insurable purchase	3.70%	3.75%	5
Uninsured purchase	3.60%	4.13%	24
Renewal / transfer	3.50%	3.87%	24
Refinance	3.60%	4.13%	20

Sources, conditions and how to use this snapshot

The median gives each lender one observation: its lowest advertised APR in that category. It is not a funded-loan average, a whole-market survey or a personalized quote. Products can differ in LTV, credit, amortization, fees and restrictions. Categories can overlap, especially on renewal. APR uses a lender-supplied figure when available; otherwise it assumes the advertised interest rate. Default-insurance premiums and switching costs still need comparing.

Insured purchase: 15 offers from 14 lenders. Lowest: Marathon Mortgage. Marathon advertised starting rate; 5 year adjustable; insured/insurable; Prime minus 0.95%.. Maximum amortization 25 years; LTV 80.01–95%. Source checked 2026-10-27T13:04:58.226Z. Lender source All offers and full conditions
Insurable purchase: 17 offers from 5 lenders. Lowest: CMLS Financial. Verified lender email offer; 60 month variable; LTV 0–65%; amortization 10–25 years; BC. Minimum credit score 680. Standard owner-occupied purchases only; fully verified income. Insured purchases are limited to 1–2 units. At least one applicant meets the quoted credit threshold; other applicants require 660. Existing insurability and remaining amortization requirements apply. CMLS location, population, property and sliding-scale rules apply. Rental, stated-income, pre-approval, rate buy-down and specialty programmes are excluded. The no-fee transfer benefit requires a loan of at least $150,000. Subject to lender approval.. Maximum amortization 25 years; LTV 0–65%. Source checked 2026-10-21T21:58:32+00:00. All offers and full conditions
Uninsured purchase: 35 offers from 24 lenders. Lowest: Neo Financial. Neo posted 5-year adjustable mortgage rate.. Maximum amortization 25 years; LTV 0.01–80%. Source checked 2026-10-27T13:05:13.784Z. Lender source All offers and full conditions
Renewal / transfer: 63 offers from 24 lenders. Lowest: Marathon Mortgage. Marathon advertised starting rate; 5 year adjustable; insured/insurable; Prime minus 0.95%.. Maximum amortization 25 years; LTV 80.01–95%. Source checked 2026-10-27T13:04:58.226Z. Lender source All offers and full conditions
Refinance: 30 offers from 20 lenders. Lowest: Neo Financial. Neo posted 5-year adjustable mortgage rate.. Maximum amortization 25 years; LTV 0.01–80%. Source checked 2026-10-27T13:05:13.784Z. Lender source All offers and full conditions

Snapshot assembled Oct 27, 2026, 8:32 p.m. Pacific. Each offer keeps its own source-check date and expiry. Assembly does not renew lender evidence.

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Example scenario · make it yours

Buying · $750,000 home · $150,000 down

BC · 5-year term · variable · 25-year amortization · Live in the home

A starting point

Matching mortgage rates.

37 of 37 matching rates · $600,000 financed · 25-year amortization

Lowest APR first

Neo Financial

5-year variable

Uninsured mortgage

3.60%

APR

$3,036

Estimated / month

Compare

Beem Credit Union

5-year variable

Uninsured mortgage

3.75%

APR

$3,085

Estimated / month

Compare

ATB Financial

5-year variable

Uninsured mortgage

3.82%

APR

Contract rate 3.80%

$3,101

Estimated / month

Compare

Strive Capital

5-year variable

Insurable mortgage criteria apply

3.85%

APR

$3,118

Estimated / month

Compare

Envision Financial

5-year variable

Uninsured mortgage

3.87%

APR

Contract rate 3.85%

$3,118

Estimated / month

Compare

Valley First

5-year variable

Uninsured mortgage

3.87%

APR

Contract rate 3.85%

$3,118

Estimated / month

Compare

Island Savings

5-year variable

Uninsured mortgage

3.87%

APR

Contract rate 3.85%

$3,118

Estimated / month

Compare

Strive Capital

5-year variable

Insurable mortgage criteria apply

3.95%

APR

$3,150

Estimated / month

Compare

Community Savings Credit Union

5-year variable

Uninsured mortgage

3.95%

APR

$3,150

Estimated / month

Compare

Strive Capital

5-year variable

Uninsured mortgage

4.04%

APR

$3,180

Estimated / month

Compare

First National Financial

5-year variable

Uninsured mortgage

4.04%

APR

$3,180

Estimated / month

Compare

CoastCapital Savings

5-year variable

Insurable mortgage criteria apply

4.04%

APR

$3,180

Estimated / month

Compare

Desjardins

5-year variable

Uninsured mortgage

4.10%

APR

$3,200

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.12%

APR

Contract rate 4.10%

$3,200

Estimated / month

Compare

RBC Royal Bank

5-year variable

Uninsured mortgage

4.18%

APR

Contract rate 4.15%

$3,217

Estimated / month

Compare

CoastCapital Savings

5-year variable

Uninsured mortgage

4.19%

APR

$3,230

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.22%

APR

Contract rate 4.20%

$3,234

Estimated / month

Compare

CIBC

5-year variable

Uninsured mortgage

4.22%

APR

Contract rate 4.20%

$3,234

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year variable

Insurable mortgage criteria apply

4.25%

APR

$3,250

Estimated / month

Compare

CoastCapital Savings

5-year variable

Uninsured mortgage

4.29%

APR

$3,264

Estimated / month

Compare

TD Canada Trust

5-year variable

Uninsured mortgage

4.31%

APR

Contract rate 4.29%

$3,264

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year variable

Insurable mortgage criteria apply

4.35%

APR

$3,284

Estimated / month

Compare

Marathon Mortgage

5-year variable

Uninsured mortgage

4.35%

APR

$3,284

Estimated / month

Compare

Manulife

5-year variable

Uninsured mortgage

4.45%

APR

$3,318

Estimated / month

Compare

B2B Bank

5-year variable

Uninsured mortgage

4.45%

APR

$3,318

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.47%

APR

Contract rate 4.45%

$3,318

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.47%

APR

Contract rate 4.45%

$3,318

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year variable

Uninsured mortgage

4.50%

APR

$3,335

Estimated / month

Compare

CMLS Financial

5-year variable

Uninsured mortgage

4.65%

APR

$3,386

Estimated / month

Compare

Valley First

5-year variable

Uninsured mortgage

4.87%

APR

Contract rate 4.85%

$3,455

Estimated / month

Compare

Island Savings

5-year variable

Uninsured mortgage

4.87%

APR

Contract rate 4.85%

$3,455

Estimated / month

Compare

Envision Financial

5-year variable

Uninsured mortgage

4.87%

APR

Contract rate 4.85%

$3,455

Estimated / month

Compare

Scotiabank

5-year variable

Uninsured mortgage

4.90%

APR

$3,473

Estimated / month

Compare

WealthONE Bank

5-year variable

Uninsured mortgage

5.30%

APR

$3,613

Estimated / month

Compare

CWB Optimum Mortgage (Alternative Lending)

5-year variable

Uninsured mortgage

6.81%

APR

Contract rate 6.45%

$4,033

Estimated / month

Compare

Scotiabank

5-year variable

Uninsured mortgage

7.65%

APR

$4,493

Estimated / month

Compare

TD Canada Trust

5-year variable

Uninsured mortgage

7.77%

APR

Contract rate 7.75%

$4,532

Estimated / month

Compare

Need a hand choosing?

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How your rates stay current

Supported public lender sources are checked once daily at 6 a.m. Vancouver time. Each offer shows when its source was checked. Your matches refresh while this page is open.

Expired promotions and rates without recent verification are removed automatically. A lender’s rate hold is separate from a promotion deadline. Promotional badges identify special rates; broker cashback estimates appear separately.

Choose your property, down payment, province and amortization to see matching products, then compare up to three for payment, interest and balance. Confirm fees, prepayment privileges, penalties and any funding deadline with your broker.

How these estimates work

Monthly payments include principal and interest; no new borrower-paid default-insurance premium is included. HELOC estimates show interest only on the full amount drawn.

Fixed rates use semi-annual compounding; variable rates use monthly compounding. Estimates assume constant rates and no extra payments. Fees, penalties, property tax, home insurance and closing costs are excluded. Confirm the product’s contract and lender APR.

Results are from Pragmatic’s published catalog, sorted by nominal rate; they are not whole-market coverage or an approval. Catalog update dates are shown in each rate’s details.

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We’ll help you weigh the rate, flexibility and costs. Brokerage services are available for BC properties.

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How rates are sourced and compared →

Find rates by lender

Explore each lender’s rate examples, terms and conditions. For a comparison based on your own numbers, use the rate shopper.

All lenders Public rate data Tools for AI assistants

Compare the same balance, term, amortization and insurance category. Displayed rates depend on eligibility and lender approval.

Make a fair comparison

Understand the rate you’re looking at.

A variable mortgage rate moves with the lender's prime rate, usually as prime plus or minus a stated adjustment. It can offer flexibility and a simpler break-cost formula, but the payment or amortization may change. Compare adjustable-payment and fixed-payment variable products separately and stress-test the result if prime rises.

Variable rates move with prime, which changes when the Bank of Canada adjusts policy rates.

Explore variable pricing and review trigger rate scenarios before you choose.

Best fit: Borrowers with payment room and rate-change tolerance
Main risk: Payment increases or a longer effective amortization
Confirm: Payment type, trigger rules, conversion policy, and penalty

Confirm whether the payment moves with prime

An adjustable-payment variable mortgage changes the required payment after prime moves, keeping the amortization closer to schedule. A fixed-payment variable mortgage may leave the payment unchanged while changing how much goes to principal, which can create trigger-rate or trigger-point pressure.

Two offers with the same prime discount can therefore behave very differently. The payment mechanism belongs beside the starting rate in every comparison.

Stress-test the household, not only the approval

Model at least a one- and two-percentage-point increase in prime and decide what action you would take: absorb a higher payment, increase it voluntarily, make a lump sum, or convert to fixed. The plan should work before the first lender notice arrives.

Check the early-break penalty and conversion policy too. Variable mortgages often have simpler break costs, but a lender may offer only its posted fixed rates when you convert mid-term.

Before you accept an offer

Prime-based pricing with clear discounts and adjustments.
Trigger rate tools to plan for rate changes.
Save scenarios and compare against fixed options.

Clear answers

Before you decide

Do variable payments always change?

Some mortgages keep payments fixed while amortization changes. Others adjust payments with prime.

What is a trigger rate?

The rate where your payment only covers interest and principal stops shrinking.

Keep comparing

References

Use the regulator and consumer-agency guidance alongside the written terms of your lender’s offer.

Pragmatic Mortgage Lending · BC

Find the rate that fits the whole mortgage.

We’ll review lender eligibility, penalties and flexibility alongside the payment.

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