Mortgage Factory


Canada’s Lowest Mortgage Rates We compare Canada’s top lenders, ensuring the lowest mortgage rates.


Latest Interest Rates


3-Year Fixed¹


5-Year Fixed¹


5-Year Variable¹


Prime Rate³


Qualifying Rate²


More than a Number

The Bank of Canada’s Prime Rate influences variable and adjustable interest rates. The Prime Rate is reviewed eight times per calendar year, at which point the bank may choose to lower, raise, or keep the pace the same.

Fixed Rate

Fixed Interest Rates are mainly determined by the bond market and set at the term's beginning. They cannot change during the term, meaning your payments will stay the same until the terms end.

Variable Rate

Variable Interest Rates (VRM) are fixed mortgage payments. The amount you pay towards your mortgage principal will fluctuate based on changes to the prime rate. This is also known as a 'Negative Amortized Variable Rate Mortgage.'

Adjustable Rate

On the other hand, adjustable Interest Rates (ARM) will increase or decrease along with changes in the Prime Rate. The adjustable approach is preferred by many because there is no change in your amortization schedule, and you see its benefits firsthand.


Interest Rates Posted by Chartered Banks

Legal Disclaimer

¹ Personal lending products and residential mortgages are offered by the lender and are subject to those lending criteria, terms and conditions. Offers may be changed, withdrawn or extended at any time, without notice. Interest rates are provided for information purposes only.

² OSFI’s guideline B-20 sets the minimum qualifying rate for mortgages. It is the greater of the contractual mortgage rate plus two percent or the five-year benchmark rate published by the Bank of Canada.

³ Bank of Canada’s published prime rate value.


Mortgage News

When you think of the first steps in buying a home, you're probably thinking about talking to a...
In today's market, qualifying for a mortgage is no easy feat. Even the most financially-stable applicants may find...
Recently, there has been a remarkable rise in appraisal valuations; in some cases, it's even reached the purchase...
When choosing a mortgage, there are two interest rate structures: fixed and variable. Both have advantages and disadvantages...

Subscribe for Updates

Get the latest Mortgage News and Interest Rates delivered to your inbox!