If you’ve been watching Canadian mortgage rates recently, you already know: the landscape has shifted dramatically. After years of rock-bottom borrowing costs, then a rapid rate-hiking cycle, and now the beginning of a cautious easing period — Canadian homebuyers and homeowners face one of the most complex mortgage rate environments in decades.

Whether you’re a first-time buyer in Calgary trying to understand cdn mortgage rates, a homeowner approaching renewal, or an investor shopping for the sharpest home loan quotes — this guide cuts through the noise. We’ll discuss TD mortgage rates, RBC mortgage rates, and BMO mortgage rates, break down how to interpret 5-year fixed mortgage rates, explain what drives current mortgage rates in Canada, and show you exactly how to use a TD calculate mortgage tool or speak to an expert who can do it for you.

Most importantly, we’ll introduce you to the kind of advantage that only a dedicated mortgage broker in Calgary can provide: access to over multiple lenders, zero broker fees, and personalized strategy.

What Are Canadian Mortgage Rates?

Canadian mortgage rates represent the interest charged by lenders — banks, credit unions, and private lenders — on funds borrowed to purchase or refinance a property in Canada. These rates are not arbitrarily set: they are directly influenced by the Bank of Canada’s overnight lending rate, bond markets, global economic conditions, lender competition, and the borrower’s individual financial profile.

Unlike the United States, where 30-year fixed mortgages are the norm, Canada operates on a fundamentally different system. Most Canadian mortgages have an amortization period of 25 years (or up to 30 years for insured mortgages on homes for first time home buyers or the brand new builder homes as of late 2024 rule changes), but the term — the period your rate is locked in — is typically much shorter, most commonly 5 years. This creates a refinancing cycle that makes tracking current Canadian mortgage rates critically important for every homeowner.

The Two Main Types of Canadian Mortgage Rates

Fixed Mortgage Rates

A fixed rate means your interest rate — and therefore your payment — stays the same for the entire term of your mortgage. Fixed rates are tied primarily to Government of Canada bond yields. When bonds move, fixed rates follow. 5-year fixed mortgage rates are Canada’s most popular product, offering predictability and protection from rate increases. As of 2025, the best 5yr fixed mortgage rates from brokers are in the 3.99% – 4.99% range.

Variable Mortgage Rates

Variable rates move with the Bank of Canada’s prime rate. When the Bank of Canada cuts rates — as it has been doing through 2024–2025 — variable rate holders benefit immediately. The trade-off is payment uncertainty. Variable rates currently sit in the 3.99% – 4.99% range, and may become advantageous if further Bank of Canada cuts are anticipated.

Other Rate Types Worth Knowing

• Adjustable Rate Mortgages (ARM) — payment changes with rate changes
• Hybrid/Combination Mortgages — part fixed, part variable
• Open vs. Closed Mortgages — flexibility vs. penalty tradeoffs
• Short-term Fixed Rates (1, 2, 3 year) — for those anticipating rate drops

Key Term: Posted Rate vs. Discounted Rate

Banks advertise a “posted rate” — but virtually no informed borrower pays it. The discounted rate is what you actually negotiate. A skilled mortgage broker always negotiates discounted rates (or can even buy-down Canadian mortgage rates, often 0.25% to 1.50% below posted. This is one of the most important distinctions in understanding Canadian lending rates.

Current Canadian Mortgage Rates in 2026

Let’s get concrete. If bewlo are the current mortgage rates in Canada at certain time in 2026 as an example. These reflect the best available rates through mortgage brokers across the country, and are representative of what a well-qualified borrower can access. Individual rates depend on factors including credit score, down payment, amortization, property type, and employment type.

* Rates shown are for illustrative purposes only, based on 2025-2026 market conditions. Actual rates depend on borrower profile, lender, and current bond/prime rate movements. Contact Dreamhouse Mortgage for your personalized rate.

TD Mortgage Rates, RBC Mortgage Rates, BMO Mortgage Rates Overview

Canada’s Big Six banks — TD, RBC, BMO, Scotiabank, CIBC, and National Bank — collectively hold the majority of the country’s mortgage market. Understanding where their Canadian mortgage rates sit, and how to leverage them, is essential for every borrower.

TD Mortgage Rates

TD Bank is Canada’s largest retail mortgage lender by branch volume. TD mortgage rates for the 5-year fixed product currently sit around 4.79% promo rate at time of this writing, though qualification and negotiation may reduce this. TD offers a popular TD Mortgage Payment Calculator on its website — often referred to as the TD calculate mortgage tool — which helps borrowers estimate monthly payments, amortization schedules, and overall interest costs.

TD is known for its First Home Buyer programs, cashback mortgage options, and flexible payment increase privileges. However, like all major banks, their best deals are often reserved for existing customers or those who ask — and even then, their best rates rarely match what a broker can access from monoline lenders operating through the broker channel.

TD Mortgage Highlights 2025

• 5-Year Fixed Posted Rate: ~6.09% (promo, discounted or negotiated rate can be lower)
• TD Mortgage Payment Calculator available online for quick estimates
• Strong first-time buyer and cashback products
• Prepayment privileges: 15% lump sum + 15% payment increase annually (typical for Canadian lenders)
• Penalty method: IRD (Interest Rate Differential) — can be very costly, or 3 months interest, whichever is higher

RBC Mortgage Rates

Royal Bank of Canada (RBC) is Canada’s largest bank by market capitalization and a major mortgage lender. RBC mortgage rates for the standard 5-year fixed are similarly positioned, with promo rates around 4.59% from RBC Rates Page and discounted offers available to qualifying clients. RBC fixed mortgage rates tend to track closely with TD and BMO on a product-by-product basis.

RBC’s strength lies in its integration with full banking products — homeowners who hold multiple products with RBC (chequing, investments, etc.) may access relationship pricing. RBC fixed mortgage rates also include a unique “RBC HomeProtector” insurance option worth evaluating separately from the mortgage rate itself.

RBC Mortgage Highlights 2025

• 5-Year Fixed Rate as of this writing: ~4.59% (rbc fixed mortgage rates)
• Variable rate pricing: prime – 0.15% to prime – 0.80%, typically, relationship-based
• Strong digital mortgage platform and pre-approval tools
• RBC Homeline Plan for HELOC + mortgage combination
• Penalty method: IRD or 3-months interest — varies by product

BMO Mortgage Rates

BMO mortgage rates position the Bank of Montreal as a competitive but middle-of-the-pack option among major lenders. BMO has in recent years leaned aggressively into cashback and promotional rate offers — their “Smart Fixed” and “Smart Variable” products offer competitive initial rates but come with conditions on prepayment and portability worth reviewing carefully.

BMO’s 5-year fixed rate promo sits around 4.74%, as of this writing from BMO Rates Page. BMO has also been active in expanding into digital mortgage offerings through its BMO SmartMortgage platform.

BMO Mortgage Highlights 2025

• 5-Year Fixed promo Rate: ~4.74%, as of this writing
• Smart Fixed products: competitive rates with restrictions
• Active cashback offers — valuable for cash-strapped buyers
• Digital application available with fast pre-approval
• BMO Homeowner ReadiLine for secured credit access

5-Year Fixed Mortgage Rates: Canada’s Most Popular Choice

Ask any Canadian homeowner what type of mortgage they have, and roughly 70–75% will say: a 5-year fixed mortgage. The 5-year fixed mortgage rate — sometimes written as 5yr fixed mortgage rate — is Canada’s defining mortgage product, and understanding it deeply is essential whether you’re buying, renewing, or refinancing.

Why Canadians Choose 5-Year Fixed

The logic is elegant: lock in your rate for five years, and you know exactly what your payment will be regardless of what the Bank of Canada does. During the ultra-low rate era of 2020–2021, this was invaluable. During the rate hike cycle of 2022–2023, Canadians already locked into 5-year terms were protected while variable rate holders saw monthly payments spike dramatically.

In the current 2025/2026 environment — where the Bank of Canada has been cutting rates but uncertainty remains — the debate between locking in a 5-year fixed rate versus riding variable rates down is genuinely complex. Here’s how to think about it:

When 5-Year Fixed Makes Sense

• You need payment certainty for budgeting (especially families)
• You believe rates may reverse higher within 2–3 years
• You have a high debt-to-income ratio and can’t absorb payment volatility
• You’re a first-time buyer already stretched on qualification
• You plan to stay in the home for the full 5-year term

When Variable May Beat 5-Year Fixed

• You expect multiple Bank of Canada cuts in the next 12–24 months
• You have financial flexibility to absorb potential rate increases
• You may need to break the mortgage early (variable penalties are much lower)
• You are renewing and timing aligns with an expected rate trough

Understanding 5-Year Fixed Rate Pricing

5-year fixed mortgage rates in Canada are set primarily by movements in 5-year Government of Canada bond yields. When bond yields rise, fixed mortgage rates rise with them — often with a lag of weeks to months. When bond yields fall (as they have been doing through 2024–2025 as inflation cools), fixed rates eventually follow downward.

This is why checking the Bond Yield Index is as important as watching the Bank of Canada announcements when you’re shopping for a fixed rate. A skilled mortgage broker monitors these in real time and can advise on timing your rate lock for maximum advantage.

Variable vs. Fixed: The Great Canadian Mortgage Debate

Few financial questions generate more debate among Canadian homeowners and financial experts than this one: should you choose a variable or fixed Canadian mortgage rate at renewal? In 2025, this debate has new urgency as the Bank of Canada navigates a complex path between inflation management and economic stimulus.

The Case for Variable in 2025

Following a historic rate-hiking cycle from March 2022 through July 2023 — where the Bank of Canada’s overnight rate rose from 0.25% to 5.00% — the central bank pivoted and began cutting rates in June 2024. As of 2025, rates have come down meaningfully and forecasters broadly expect further, if cautious, cuts through 2025–2026.

Variable rate mortgages benefit directly from these cuts. Borrowers who chose a variable rate mortgage in late 2024 or 2025 have already seen their effective rate decline as cuts took effect. If the Bank of Canada delivers an additional 75–100 basis points in cuts over the next 12–18 months — as some economists project — variable rate holders could end up paying significantly less than those locked into today’s fixed rates.

The Case for 5-Year Fixed in 2025

The counterargument is equally compelling. Bond markets — which drive fixed rate pricing — have already partially priced in expected Bank of Canada cuts. This means the gap between today’s best 5yr fixed mortgage rates (~4.79%) and variable rates (~5.20%) is tighter than historical norms. Locking in near 4.79% may prove to be a wise decision if global uncertainty, trade disruptions, or renewed inflation pressures cause the Bank of Canada to pause or reverse its easing cycle.

Given Canada’s extraordinary exposure to U.S. trade policy (with 75%+ of exports heading south of the border), the macro environment in 2025 carries unusually high uncertainty. For risk-averse borrowers, the certainty of a strong 5-year fixed Canadian mortgage rate has clear value.

How Canadian Lending Rates Are Set: The Full Picture

To truly understand Canadian mortgage rates, you need to understand the machinery behind them. Canadian lending rates aren’t set by a single authority — they emerge from a complex interplay of multiple forces.

The Bank of Canada’s Overnight Rate

The Bank of Canada (BoC) sets the overnight lending rate — the rate at which financial institutions borrow and lend money to each other for one-day periods. This rate is the most direct lever the BoC has over the economy. When it rises, borrowing becomes more expensive across the economy. When it falls, borrowing loosens. Variable mortgage rates are directly tied to this rate (through “prime rate,” which major banks set at BoC rate + 2.20%).

Government of Canada Bond Yields

Fixed mortgage rates — particularly 5-year fixed rates — are tied to Government of Canada (GoC) bond yields, specifically the 5-year GoC bond. These bonds trade on open markets and their yields reflect investor expectations about future economic conditions, inflation, and the direction of Bank of Canada policy. When bond yields rise (as they did sharply in 2022–2023), fixed mortgage rates follow. The recent decline in bond yields is the primary driver of the improvement in today’s current mortgage rates in Canada.

Lender Competition and Risk Appetite

Individual lenders — whether major banks or monoline lenders — set their own rate margins above bond yields and prime rate based on their operational costs, profit targets, competitive positioning, and risk assessments. This is why rates can vary meaningfully from lender to lender even in the same week. It’s also why comparing multiple lenders (as a mortgage broker does automatically on your behalf) always delivers better outcomes than going directly to one institution.

Factors That Affect Your Personal Rate

• Credit score — higher score means lower rate (target 720+ for best pricing)
• Down payment / loan-to-value ratio
• Amortization period (25 vs. 30 years)
• Property type (owner-occupied vs. rental, condo vs. house)
• Employment type (salaried vs. self-employed vs. commission)
• Mortgage type (insured vs. conventional)
• Lender relationship and negotiation

How to Get the Best Mortgage Quotes in Canada

Shopping for mortgage quotes is one of the highest-value financial activities a Canadian can undertake. The difference between the first rate you’re offered and the best rate available through proper shopping can translate to tens of thousands of dollars over your mortgage’s life. Yet the majority of Canadians still get their mortgage from their existing bank without shopping — leaving enormous money on the table.

Step 1: Know Your Numbers Before You Shop

Before requesting mortgage quotes, gather your financial picture: credit score, total income (all sources), existing debts and monthly obligations, down payment amount and source, and the approximate property value you’re targeting. Lenders use this information to calculate your Gross Debt Service (GDS) and Total Debt Service (TDS) ratios — the key metrics in qualifying for Canadian mortgage products.

Step 2: Understand What You’re Comparing

When comparing home loan quotes, rate alone is not the whole story. Always evaluate these factors alongside the rate:

• Prepayment privileges (can you pay extra without penalty?)
• Portability (can you take the mortgage to a new property?)
• Penalty calculation method (IRD vs. 3-months interest)
• Blend-and-extend options
• Early renewal policies
• Cashback or other incentives (and their conditions)

Step 3: Use a Mortgage Broker — Not Just a Bank

This is the most impactful step the majority of Canadians skip. A licensed mortgage broker works on your behalf — not the bank’s. They have access to wholesale rates across 50+ lenders, can negotiate your rate, and present you with legitimate competing offers in a single consultation. Their service is free to you (brokers are compensated by the lender upon funding). Getting multiple home loan quotes through a broker is the fastest, most efficient way to ensure you’re accessing the best available Canadian mortgage rates.

Canadian Mortgage Rates in Calgary, Alberta: Your Local Advantage

Calgary occupies a unique position in the Canadian housing market. As one of Canada’s fastest-growing cities — fueled by interprovincial migration, a diversified (though still energy-influenced) economy, and a relative affordability advantage compared to Toronto and Vancouver — Calgary’s real estate market and mortgage landscape have their own specific dynamics.

Why Calgary Mortgage Borrowers Have a Particular Opportunity

Calgary home prices, while rising significantly in recent years, still represent dramatically better value per square foot than the major Ontario and BC markets. This means borrowers in Calgary can often qualify for larger down payments relative to purchase price, potentially avoiding mortgage default insurance (CMHC) on properties they’d be required to insure if purchasing in Toronto or Vancouver at similar income levels.

Alberta also has no provincial sales tax, no land transfer tax (unlike Ontario), and has historically had higher average household incomes relative to cost of living — all factors that affect mortgage strategy and qualification. Understanding how Canadian mortgage rates interact with Alberta-specific conditions requires a local expert.

The Calgary Mortgage Market in 2026

Calgary’s benchmark home price as of early 2025 sits in the $590,000–$620,000 range for detached homes, with attached and condo properties significantly lower. At a 5% down payment on a $600,000 home (insured mortgage), a borrower accessing today’s best 5-year fixed mortgage rates of 4.79% would see a monthly payment (25-year amortization) of approximately $3,240/month — roughly $350/month less than if they accepted a major bank’s posted rate of 5.84%.

That difference — $350 per month, $4,200 per year, $21,000 over a 5-year term — is the tangible value of working with a Calgary mortgage specialist rather than accepting the first rate your bank offers.

Calgary Neighbourhoods Where Mortgage Strategy Matters Most

• Evanston, Nolan Hill, Sherwood (NW Calgary new builds — qualifying income strategies)
• Seton, Mahogany, Auburn Bay (SE Calgary — strong appreciation, investment considerations)
• Beltline, Mission, Kensington (inner city condos — CMHC rules, rental income potential)
• Airdrie, Cochrane, Chestermere (surrounding areas — rural property rules and lender restrictions)
• South Calgary (Silverado, Legacy, Cranston — family upgrade purchases and equity strategies)

How to Calculate Your Mortgage Payment in Canada

Whether you use the Dreamhouse Mortgage Calculator tool, the CMHC calculator, or a broker’s proprietary calculator, understanding the math behind your mortgage gives you power in negotiations and planning. Here’s how the numbers work:

The Core Mortgage Payment Formula

A standard Canadian mortgage payment (blended principal and interest) is calculated using compound interest, compounded semi-annually (as required by Canadian law — different from the United States). This means that when lenders quote an annual rate, the effective monthly rate must be derived from a semi-annual compounding factor.

Quick Payment Estimation Guide (5-Year Fixed at 4.79%, 25-Year Amortization)

Factors That Change Your Payment

Your actual mortgage payment will vary based on the amortization period selected (25 vs. 30 years for eligible products), your actual rate (which a broker negotiates), the payment frequency you choose (monthly, bi-weekly, accelerated bi-weekly), and whether your mortgage is insured or conventional. Choosing accelerated bi-weekly payments, for example, results in 26 half-monthly payments per year instead of 24 — effectively making one extra full monthly payment per year, which can shave 3–4 years off a 25-year mortgage.

Mortgage Broker vs. Bank: The Honest Truth

This is the question at the heart of nearly every mortgage journey in Canada: should you go to your bank, or work with a licensed mortgage broker? The honest answer, backed by industry data and the lived experience of hundreds of thousands of Canadian borrowers, is clear: for the vast majority of scenarios, typically a licensed mortgage broker delivers meaningfully better outcomes.

What a Bank Does

A bank mortgage specialist — whether at TD, RBC, BMO, or any other major institution — represents one lender only. Their job is to sell you that lender’s products. They can negotiate within their own rate matrix, but they cannot access products from competing lenders, and their personal incentives are aligned with their employer’s profit targets, not your financial outcome. They are talented professionals, but they are fundamentally constrained by working for one institution.

What a Mortgage Broker Does

A licensed mortgage broker like Guriqbal Chahal at Dreamhouse Mortgage in Calgary represents you — the borrower — not any single lender. They access rates and products from multiple lenders simultaneously, including major banks (yes, brokers can place mortgages at TD, RBC, and BMO in many cases), credit unions, trust companies, and monoline lenders. They negotiate on your behalf, structure your file for the best approval outcome, and are legally required to act in your best interest. Their compensation comes from the lender upon funding — meaning their service costs you nothing directly.

Broker vs. Bank: Head-to-Head Comparison

Expert Tips to Unlock the Best Canadian Mortgage Rates

After years of guiding Calgary homebuyers and homeowners through every type of mortgage scenario, here are the insider strategies that consistently deliver the best outcomes on Canadian mortgage rates:

Tip 1: Start 120 Days Before You Need a Rate

Most lenders will honour a pre-approved rate hold for 90–120 days. Starting early means you can lock in a great rate while continuing to shop. If rates drop further before your closing date, a good broker will renegotiate downward. If rates rise, you’re protected by your hold. This risk-free optionality is one of the most underused advantages in mortgage shopping.

Tip 2: Optimize Your Credit Score Before Applying

The threshold between mortgage rate tiers typically sits at credit scores of 680 and 720. Borrowers above 720 access the best pricing. Simple actions — paying down credit card balances below 30% of limits, avoiding new credit applications, and correcting any errors on your bureau report — can move your score meaningfully within 60–90 days and directly improve your current mortgage rate offers.

Tip 3: Consider a 20% Down Payment to Avoid CMHC Insurance

Mortgages with less than 20% down require CMHC (Canada Mortgage and Housing Corporation) or equivalent mortgage default insurance. This insurance premium — which ranges from 0.60% to 4.00% of the mortgage amount depending on your down payment percentage — is added to your mortgage balance. Borrowers who can reach 20% down eliminate this cost entirely, which on a $500,000 mortgage can mean avoiding a $19,000 insurance premium added to the loan.

Tip 4: Don’t Just Compare Rates — Compare Total Cost of Borrowing

A mortgage with a slightly higher rate but significantly lower prepayment penalties can be far superior if there’s any chance you’ll break or modify the mortgage before maturity. IRD (Interest Rate Differential) penalties at major banks can reach 3–6 months of interest or more. Monoline lenders and some banks calculate penalties differently. Your broker will calculate the total cost scenario for your specific situation.

Tip 5: Leverage a Mortgage Renewal as a Renegotiation

Renewal time is your strongest negotiating moment. Lenders want to retain your business, and the renewal offer they mail you 90–120 days before your term expires is almost never their best rate. Engage a mortgage broker at renewal — even if you ultimately stay with your existing lender — and you will almost always secure a better rate than the initial offer.

Tip 6: Work with a Specialist Who Knows Calgary

Local market knowledge matters. A mortgage broker who works exclusively in Calgary and Alberta understands the city’s specific appraisal patterns, lender preferences for Alberta properties, regional income qualification nuances, and the unique dynamics of Calgary’s new-build market. This local expertise — combined with access to the widest possible range of lenders — is the combination that delivers results.

Frequently Asked Questions: Canadian Mortgage Rates

What is the current 5-year fixed mortgage rate in Canada?

As of 2026, the best available 5-year fixed mortgage rates in Canada through mortgage brokers range from approximately 3.99% to 4.99%, depending on the borrower’s profile, down payment, and lender selected. Major bank posted rates for the same product are typically 0.75% to 1.00% higher, but they do have mortgage discounted rates and often have mortgage rate promos available. Contact Dreamhouse Mortgage for a live, personalized mortgage rate quote.

How do TD mortgage rates compare to broker rates?

TD mortgage rates at posted level currently sit around 5.84% for a 5-year fixed. TD Mortgage Rates however have discounts rates and often have mortgage rate promos as well a cash backs available.Through a mortgage broker accessing wholesale-level pricing, qualified borrowers can often access rates of 3.99% to 3.99% — representing a difference of 0.75% or more. On a $500,000 mortgage, this can translates to roughly $3,500–$5,000 in interest savings per year.

Are RBC fixed mortgage rates competitive?

RBC fixed mortgage rates are competitively positioned within the major bank peer group, but like all big bank rates, they may be higher than what a mortgage broker can access through the full lending market with access to multiple lenders. RBC’s discounted rate for strong clients with relationship pricing may narrow the gap, but broker-sourced rates — from monolines and other institutional lenders — may still be superior for the majority of borrowers.

What are BMO mortgage rates in 2026?

BMO mortgage rates for a standard 5-year fixed sit around 4.74% at promo rate as of writing of this article, with discounts available and promos available at lower rates. Check their current rates at the BMO website rates link. BMO has been competitive in cashback mortgage promotions and specific promotional products. However, borrowers seeking the outright lowest interest cost will typically find better value through a mortgage broker’s full-market comparison.

How do I get free mortgage quotes in Canada?

The most effective way to get legitimate, competitive mortgage quotes in Canada is through a licensed mortgage broker. Brokers like Guriqbal Chahal at Dreamhouse Mortgage provide completely free, no-obligation mortgage quotes across 50+ lenders. Simply contact the office, provide basic financial information, and receive a comprehensive comparison of your best available rates and products.

What drives current mortgage rates in Canada?

Current mortgage rates in Canada are driven by: the Bank of Canada’s overnight lending rate (which affects variable rates directly), Government of Canada bond yields (which drive fixed rates), lender competition and margins, and the borrower’s individual credit, income, and equity profile. Global economic conditions, inflation data, and employment figures all influence where rates move.

Should I choose a 5-year fixed or variable rate in 2025?

In 2025/2026’s environment — where the Bank of Canada has been cutting rates but uncertainty remains elevated — both options have merit. The 5yr fixed mortgage rate of ~4.29% offers certainty and protection. Variable rates at ~4.290% carry the potential benefit of further Bank of Canada cuts. The right answer depends on your personal risk tolerance, financial flexibility, and how long you plan to hold the property. A mortgage broker can model both scenarios for your specific situation.

What is the best Canadian mortgage rate for first-time buyers in Calgary?

First-time buyers in Calgary can access the same competitive Canadian mortgage rates as any other qualified borrower — typically 3.99% to 4.99% for a 5-year fixed through a broker. Additionally, first-time buyers may qualify for the First Home Buyer Incentive, RRSP Home Buyers’ Plan withdrawal, and the First Home Savings Account (FHSA) — tools that Dreamhouse Mortgage specialists incorporate into a comprehensive first-time buyer strategy.

How do I use a mortgage calculator to estimate my payments?

Tools like the TD calculate mortgage calculator or CMHC’s online calculator require you to input the purchase price, down payment, amortization period (typically 25 years), and interest rate. Input your actual broker-negotiated rate rather than the bank’s posted rate for an accurate estimate. Dreamhouse Mortgage also offers a personalized calculation as part of every free consultation.

What is the difference between cdn mortgage rates and US mortgage rates?

CDN mortgage rates (Canadian mortgage rates) differ from US rates in several key ways: Canadian mortgages use semi-annual compounding (not monthly), standard terms are 1–5 years (vs. 30-year fixed in the US), CMHC insurance is required below 20% down, and the stress test (qualifying at rate + 2% or 5.25%, whichever is greater) applies universally. These differences mean that comparing published US and Canadian rates requires adjustments to be meaningful.