Buying a Home in Canada

Mortgage Rates

Discounted rates found on the internet on December 2, 2022.

Fixed-Rate Mortgages

1-year closed: 5.14% (4.99%)
2-year closed: 5.04% (5.04%)
3-year closed: 4.74% (4.94%)
5-year closed: 4.84% (4.79%)
7-year closed: 5.44% (5.79%)
10-yr closed:   5.34% (5.94%)

Variable-Rate Mortgages

BofC’s Rate:   3.75% (3.75%)
Banks' Prime:    5.95% (5.95%)
5-year: Prime - 1.20% or 4.75%

Some rates may require CMHC insurance coverage. BofC stands for Bank of Canada. The rates in brackets are from November 25, 2022.



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