Canadian Mortgage Rates 2025
Compare current mortgage rates from major Canadian banks. Find the best fixed and variable rates for your home purchase.
Average 5-Year Fixed
4.75%
Average 3-Year Fixed
4.64%
Average Variable
4.07%
Mortgage Rates by Bank
Compare fixed and variable mortgage rates from major Canadian lenders
| Bank | 1-Year Fixed | 2-Year Fixed | 3-Year Fixed | 5-Year Fixed | Variable |
|---|---|---|---|---|---|
| BMO | - | - | 4.64% | 4.74% | 4.1% |
| CIBC | 4.74% | 4.49% | 4.74% | 4.59% | 3.95% |
| National Bank | 5.49% | 4.84% | 4.69% | 4.69% | 4.1% |
| RBC | 4.89% | 4.79% | 4.49% | 4.89% | 3.95% |
| Scotiabank | - | - | - | - | - |
| TD | - | - | 4.64% | 4.84% | 4.24% |
💡 Fixed vs Variable Rates
Fixed Rate Mortgages:
- Rate stays the same for the entire term
- Predictable monthly payments
- Protection from rate increases
- Typically higher than variable rates
Variable Rate Mortgages:
- Rate fluctuates with Bank of Canada's rate
- Lower starting rate
- Potential savings if rates drop
- Risk of payment increases
📊 Mortgage Rate Trends
Canadian mortgage rates have seen significant volatility in recent years due to Bank of Canada policy changes. The 5-year fixed rate remains the most popular choice among Canadian homebuyers.
Current Market Conditions:
- Bank of Canada's overnight rate impacts variable rates
- 5-year bond yields influence fixed rates
- Competition among lenders affects pricing