Home Buying Manual

Click here for the most recent version of the manual (December 2012).

Mortgage Rates

Discounted rates found on the internet on January 22, 2021.

Fixed-Rate Mortgages

1-year closed: 1.64% (1.49%)
2-year closed: 1.59% (1.44%)
3-year closed: 1.59% (1.59%)
4-year closed: 1.64% (1.64%)
5-year closed: 1.39% (1.35%)
7-year closed: 2.09% (2.09%)
10-yr closed:   2.14% (2.14%)
Qualify. Rate:  4.79% (4.79%)

Variable-Rate Mortgages

BofC’s Target:   0.25% (0.25%)
Banks' Prime:    2.45% (2.45%)
5-year: Prime - 1.46% or 0.99%

Some rates may only be available to people with top credit, living in specific areas. BofC stands for Bank of Canada. The "Qualifying Rate" is used to qualify borrowers. The rates in brackets are from January 15, 2020.