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 27, 2023.

Fixed-Rate Mortgages

1-year closed: 5.69% (5.59%)
2-year closed: 5.39% (5.39%)
3-year closed: 4.74% (4.74%)
5-year closed: 4.54% (4.54%)
7-year closed: 5.44% (5.44%)
10-yr closed:   5.19% (5.19%)

Variable-Rate Mortgages

BofC’s Rate:   4.50% (4.25%)
Banks' Prime:    6.70% (6.45%)
5-year: Prime - 1.20% or 5.50%

Some rates may require CMHC insurance coverage. BofC stands for Bank of Canada. The rates in brackets are from January 20, 2023.