Buying a Home in Canada

Mortgage Rates

Discounted rates found on the internet on July 19, 2019.

Fixed-Rate Mortgages

1-year closed: 2.82% (2.82%)
2-year closed: 2.49% (2.49%)
3-year closed: 2.69% (2.69%)
4-year closed: 2.82% (2.74%)
5-year closed: 2.59% (2.49%)
7-year closed: 2.99% (2.99%)
10-yr closed:   2.99% (2.99%)
Qualify. Rate:  5.19% (5.34%)

Variable-Rate Mortgages

BofC’s Target:   1.75% (1.75%)
Banks' Prime:    3.95% (3.95%)
5-year: Prime - 1.20% or 2.75%

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 July 12, 2019.



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