Secure Low Rates For

Your Dream Home

Secure Low Rates For

Your Dream Home

Fixed Mortgage Rate

The rate of your mortgage remains fixed for the term, regardless of changes in the market.

3.87%

3.75%

3 year term*

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Variable Mortgage Rate

Your monthly mortgage payments can go up or down based on the Bank of Canada’s prime interest rate

~~4.49%~~

3.99%

5 year term*

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Want more options?

Check out our other mortgage rates.

2-year

FIXED*

4.25%

4.19%

3-year

FIXED*

4.35%

3.75%

4-year

FIXED*

4.65%

3.99%

5-year

FIXED*

3.99%

3.84%

5-year

VARIABLE*

4.49%

3.99%

*The mortgage rates as of April 28, 2025 are for reference only and not guaranteed. Rates displayed are for insured mortgages and assume an 80% loan-to-value ratio or less. Rates can change without notice and depend on many factors. Mortgage approval is contingent on underwriting approval (OAC). Additional fees and costs may apply, and not all applicants will qualify for the advertised or lowest rate. APR is based on typical fees associated with the mortgage and may vary depending on your situation.

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Your Most Common Mortgage Rate Questions Answered

Get the Clarity You Need to Secure the Best Mortgage Rate

Navigating mortgage rates can feel overwhelming, especially with so many factors at play. Whether you're a first-time homebuyer, refinancing your existing mortgage, or considering a switch, understanding how rates work is key to making the right decision. That’s why we’ve put together this list of the most frequently asked mortgage rate questions—so you can move forward with confidence.

1. How are mortgage rates set in Canada?

Mortgage rates are influenced by multiple factors, including the Bank of Canada’s key interest rate, bond market trends, and lender policies. Fixed rates typically follow government bond yields, while variable rates fluctuate based on the prime rate.

2. Should I choose a fixed or variable rate mortgage?

It depends on your risk tolerance and financial goals. A fixed-rate mortgage locks in your rate for the term, ensuring predictable payments. A variable-rate mortgage may offer lower rates upfront but fluctuates with the market, which could mean savings or higher payments over time.

3. What affects the mortgage rate I qualify for?

Lenders consider your credit score, down payment, income, debt levels, and property type when determining your rate. A higher credit score and larger down payment generally help secure a lower rate.

4. Can I negotiate a lower mortgage rate?

Absolutely! As mortgage brokers, we shop around and negotiate on your behalf to find the most competitive rates from our network of lenders. Unlike banks, we have access to multiple options, ensuring you get the best deal for your situation.

5. How often do mortgage rates change?

Mortgage rates can change daily based on economic conditions, lender strategies, and government policies. Staying informed or working with a mortgage broker ensures you lock in the right rate at the right time.