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 17, 2025.

Fixed-Rate Mortgages

1-year closed: 5.94% (5.94%)
2-year closed: 4.64% (4.74%)
3-year closed: 4.39% (4.49%)
5-year closed: 4.14% (4.14%)
7-year closed: 5.29% (5.29%)
10-yr closed:   5.48% (5.48%)

Variable-Rate Mortgages

BofC’s Rate:   3.25% (3.25%)
Banks' Prime:    5.45% (5.45%)
5-year: Prime - 1.05% or 4.40%

Some rates may require CMHC insurance coverage. BofC stands for Bank of Canada. The rates in brackets are from January 10, 2025.