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Choosing a mortgage - whether you are buying a new home, or refinancing an existing home is a big task! Finding the best mortgage rates in Canada can greatly simplify this process.
Regardless of which provider you go with (or your current one), a key part of the process is making sure you have the best mortgage rates in Canada. I get these rates from all the provider websites every month, so you can compare and contrast the rates across the different year terms and types of mortgages.
It’s essential to consider not just the rates but also the overall terms when searching for the best mortgage rates in Canada.
Best Fixed Mortgages across the Big 6 Banks in Canada
Here are the best fixed rate mortgages across the Big 6 Banks in Canada
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Best Variable Mortgages across the Big 6 Banks in Canada
Here are the best variable rate mortgages across the Big 6 Banks in Canada
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Canadian Mortgage Calculator
Use this Canadian mortgage calculator to estimate how much you would pay for a mortgage in Canada based on your downpayment and interest rates.
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Frequently Asked Questions
Who has the lowest mortgage rates in Canada right now?
The lowest 5 year fixed rate across the big banks in Canada is CIBC with 3.99%
Which bank gives best mortgage rate in Canada?
Please check the table above to see mortgage rates from TD, RBC, BMO, CIBC and Scotia Bank.
What is the current 5 year fixed mortgage rate in Canada?
The current 5 year fixed rate mortgage is between 3.99% - 4.54% according to our latest data from the Big 6 banks
How much is a mortgage on a $500,000 house in Canada?
A mortgage on a $500,000 house in Canada will be based on many factors such as your rate, downpayment and credit score
Best next step
Keep exploring this topic
If you want to go deeper, these are the most useful follow-up pages and tools for this topic.
Banking next step
Compare high-interest savings rates
Move from banking basics into current cash rates and safer places to park your money.
Safe cash option
See the best GIC rates in Canada
Compare guaranteed rates if you are choosing between keeping cash liquid or locking it in.
Savings tool
Estimate your TFSA room
Work out how much tax-sheltered room you still have before you move extra cash into savings.
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Qayyum Rajan, CFA
Qayyum is the CEO of Wealth Awesome, a leading Canadian personal finance publication. As a CFA charterholder with extensive experience in fintech, data science, and quantitative finance, he brings a unique analytical perspective to investing and wealth management.
View Full Profile →✅ Reviewed by Certified Financial Professionals
This content has been reviewed by CFA® charterholders and Certified Financial Planners (CFP®) with over a decade of experience in Canadian financial markets. All information is fact-checked against official Canadian sources and regulations.
Why these credentials matter: CFA® charterholders complete 900+ hours of rigorous study in investment analysis and ethics. CFP® professionals are held to the highest standards of financial planning competency and fiduciary duty in Canada.
⚠️ Professional Disclaimer
This content is for educational purposes only and should not be considered personalized financial advice. While our team brings professional expertise, individual circumstances vary. For personalized guidance, consult with a qualified financial advisor, tax professional, or mortgage specialist.
