Part 6

Mortgage Rates

Discounted rates found on the internet on October 4, 2024.

Fixed-Rate Mortgages

1-year closed: 5.99% (5.99%)
2-year closed: 5.59% (5.59%)
3-year closed: 4.69% (4.69%)
5-year closed: 4.04% (4.04%)
7-year closed: 5.06% (5.46%)
10-yr closed:   5.68% (5.68%)

Variable-Rate Mortgages

BofC’s Rate:   4.25% (4.25%)
Banks' Prime:    6.45% (6.45%)
5-year: Prime - 1.30% or 5.20%

Some rates may require CMHC insurance coverage. BofC stands for Bank of Canada. The rates in brackets are from September 27, 2024.