Buying a Home in Canada

Mortgage Rates

Discounted rates found on the internet on March 14, 2025.

Fixed-Rate Mortgages

1-year closed: 4.79% (4.79%)
2-year closed: 4.19% (4.19%)
3-year closed: 3.99% (4.09%)
5-year closed: 3.94% (3.94%)
7-year closed: 5.01% (5.01%)
10-yr closed:   5.48% (5.48%)

Variable-Rate Mortgages

BofC’s Rate:   2.75% (3.00%)
Banks' Prime:    4.95% (5.20%)
5-year: Prime - 1.05% or 3.90%

Some rates may require CMHC insurance coverage. BofC stands for Bank of Canada. The rates in brackets are from March 7, 2025.



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