Mortgage Rates
Discounted rates found on the internet on May 22, 2020.
Fixed-Rate Mortgages
1-year closed: 2.49% (2.69%)
2-year closed: 2.34% (2.34%)
3-year closed: 2.19% (2.29%)
4-year closed: 2.49% (2.53%)
5-year closed: 2.14% (2.14%)
7-year closed: 2.99% (2.99%)
10-yr closed: 3.09% (3.09%)
Qualify. Rate: 4.94% (5.04%)
Variable-Rate Mortgages
BofC’s Target: 0.25% (0.25%)
Banks' Prime: 2.45% (2.45%)
5-year: Prime - 0.50% or 1.95%
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 May 15, 2020.
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