Best Mortgage Rates

The Best Mortgage Rates in Canada Today

Alberta Equity aims to help you find the lowest rates in the country with ease. Compare the best rates offered on the most popular products by Canada's top lenders in the rates charts below. Not sure which product will amount to the most savings on your home financing? Pop the mortgage rate into an online mortgage calculator to deduce your future monthly payments. Shopping for the best mortgage rate was never so straightforward.

Current Mortgage Rates


Mortgage Term Current Rates (%) Previous Rates (%) Change (%) Date Changed
Variable1.391.65-0.26mortgage rate loweredMar 16, 2021
6 month2.792.99-0.2mortgage rate loweredSep 18, 2020
1 year1.841.640.2mortgage rate risenMar 16, 2021
2 years1.541.59-0.05mortgage rate loweredMar 16, 2021
3 years1.541.59-0.05mortgage rate loweredMar 16, 2021
4 years1.641.74-0.10mortgage rate loweredDec 19, 2020
5 years1.841.690.15mortgage rate risenMar 16, 2021
7 years2.642.440.2mortgage rate risenMar 16, 2021
10 years2.952.840.11mortgage rate risenMar 16, 2021
Note: Some mortgage rates may not be available in certain areas. Call 1-800-604-1864 for details.

Our Mortgage Rates vs Bank Posted Rates


Mortgage Term Our Rates (%) Bank Rates (%) Difference (%) Savings Over Term 1 (Ours vs Posted) Savings Per Year 1 (Ours vs Posted)
Variable1.39-1.39N/AN/A
6 month2.793.340.55$608.99N/A
1 year1.843.591.75$3,861.27$3,861.27
2 years1.543.742.20$9,613.55$4,806.77
3 years1.543.892.35$15,250.19$5,083.40
4 years1.643.942.30$19,702.41$4,925.60
5 years1.844.993.15$33,577.63$6,715.53
7 years2.645.803.16$46,773.46$6,681.92
10 years2.956.103.15$65,106.86$6,510.69
1 Calculation based on a $225,000.00 mortgage over a 25 year amortization using a monthly payment schedule.

Current Top Lender Mortgage Rates: Variable, 6 Month - 5 Year Fixed


Mortgages: Closed, variable to 5 Year
Financial Institution
Mortgage Term
Variable 6 Mth 1 Year 2 Year 3 Year 4 Year 5 Year
Alberta Equity Mortgage 1.95 3.14 1.99 1.99 1.99 1.99 2.04
ATB Financial 2.450 4.500 3.090 3.290 3.490 3.540 2.390
Alterna Bank 2.950 3.250 2.140 2.140 2.140 2.140 2.590
Alterna Savings 2.950 3.250 2.140 2.140 2.140 2.140 2.590
Bank of Montreal (BMO) 2.450 4.200 3.090 3.390 3.890 4.340 4.940
Bank of Nova Scotia
2.650 4.250 3.090 3.190 3.790 4.090 4.790
CIBC Mortgages 2.450 3.750 3.190 2.890 3.690 4.340 4.940
Canada Life 3.950 4.200 3.490 3.590 4.140 4.890 5.190
Canadian Western Bank 2.200 3.940 2.240 2.240 2.140 2.240 2.090
Canadian Western Trust 2.650 3.940 2.240 2.240 2.140 2.240 2.090
Comtech Fire CU - 6.200 3.390 3.490 3.690 3.740 3.490
Desjardins - Caisses 2.450 4.400 3.090 3.390 3.890 4.290 4.940
Effort Trust - 4.150 4.150 4.250 4.350 4.450 4.550
Equitable Bank - - 3.040 3.390 3.900 4.440 4.940
First National Financial LP 2.450 - 3.040 2.840 2.690 2.590 2.490
FirstOntario Credit Union 2.550 4.940 2.890 2.190 2.190 2.190 2.340
HSBC Bank Canada 1.990 3.190 2.290 1.940 2.190 2.240 2.090
Home Trust 2.000 - 3.990 3.540 3.790 3.850 2.140
Investors Group Trust 3.950 4.200 3.490 3.590 4.140 4.890 4.940
Kindred Credit Union 2.450 - 3.050 3.100 3.150 3.200 2.590
Laurentian Bank Canada 2.450 4.400 3.090 3.390 3.890 4.390 4.790
Libro Credit Union - 4.750 2.590 2.590 2.640 2.690 2.740
Luminus Financial 3.500 - 4.100 4.200 4.350 4.800 3.990
Manulife Bank 3.050 4.450 3.240 2.890 2.890 2.890 2.790
Manulife Trust - 4.450 3.240 2.890 2.890 2.890 2.790
Meridian Credit Union 2.200 3.890 3.290 2.590 2.590 3.890 2.540
National Bank 2.450 4.400 3.040 3.390 3.890 4.440 4.940
Parama Credit Union 2.700 - 3.190 3.290 3.390 3.490 3.490
Peace Hills Trust - 4.250 3.100 3.250 3.500 3.800 3.950
Rapport Credit Union 2.950 6.000 3.590 3.740 3.890 3.940 4.990
Royal Bank of Canada (RBC) 2.450 3.040 3.040 3.390 3.900 4.440 4.940
Simplii Financial 2.450 6.190 3.190 2.890 3.790 4.390 4.890
Steinbach Credit Union - - 2.650 2.650 2.650 2.650 2.450
TD CanadaTrust 2.600 3.140 3.240 3.390 3.790 3.940 4.840
Tangerine 2.050 - 2.890 2.190 2.190 2.190 1.990
Last Update: 2020-08-01