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
Variable2.452.50-0.05mortgage rate loweredApr 17, 2014
6 month3.954.45-0.50mortgage rate loweredNov 18, 2010
1 year2.692.89-0.20mortgage rate loweredJun 4, 2014
2 years2.592.69-0.10mortgage rate loweredApr 17, 2014
3 years2.592.490.10mortgage rate risenJul 7, 2014
4 years2.772.87-0.10mortgage rate loweredMay 29, 2014
5 years2.892.94-0.05mortgage rate loweredJul 30, 2014
7 years3.993.790.20mortgage rate risenSep 11, 2013
10 years4.394.340.05mortgage rate risenApr 17, 2014
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)
Variable2.453.000.55N/AN/A
6 month3.953.14-0.81$895.63N/A
1 year2.693.140.45$992.73$992.73
2 years2.593.040.45$1,967.56$983.78
3 years2.593.751.16$7,547.55$2,515.85
4 years2.774.541.77$15,267.80$3,816.95
5 years2.894.942.05$21,971.40$4,394.28
7 years3.995.751.76$26,290.02$3,755.72
10 years4.396.752.36$49,760.16$4,976.02
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


Financial Institution
Mortgage Term
Variable 6 Mth 1 Year 2 Year 3 Year 4 Year 5 Year
Alberta Equity Mortgage 2.45 3.95 2.69 2.59 2.59 2.77 2.89
ATB Financial 2.70 4.00 2.94 2.89 2.99 3.04 3.29
Alterna Bank 2.60 4.00 2.98 2.98 2.98 2.94 3.19
Alterna Savings 2.60 4.00 2.98 2.98 2.98 2.94 3.19
Bank of Montreal (BMO) 3.00 4.00 3.14 3.04 3.85 4.39 4.99
Bank of Nova Scotia
3.10 4.55 3.29 3.14 3.44 3.94 4.79
Bridgewater Bank - - 4.80 4.70 5.25 - 5.25
CIBC Mortgages 3.00 4.45 2.99 2.94 3.65 4.24 4.99
Caisses Desjardins 3.00 4.40 3.14 3.24 3.75 4.39 4.89
Canadian Western Bank 3.20 4.00 3.14 3.04 3.75 4.39 4.99
Canadian Western Trust 3.20 4.00 3.14 3.04 3.75 4.39 4.99
Comtech Credit Union - 6.20 2.99 3.25 3.29 2.99 3.09
DUCA Financial Services 2.55 - 3.09 3.00 2.99 3.09 2.99
Effort Trust - 4.45 3.45 3.60 3.70 4.60 4.95
Equitable Bank - - 3.14 3.04 3.75 4.54 4.94
First Calgary Financial - 4.00 2.89 2.89 3.19 3.39 3.29
First National Financial LP 2.45 3.95 2.99 2.59 2.69 2.77 3.09
FirstOntario Credit Union 2.60 4.24 3.09 3.14 3.29 2.77 3.04
HSBC Bank Canada 3.10 4.45 3.60 3.95 4.45 4.99 5.34
Home Trust Company 2.50 3.95 2.89 2.89 2.79 2.94 2.99
ICICI Bank Canada 3.05 - 3.15 3.65 3.64 3.69 3.89
Investors Group Trust 3.00 4.20 3.14 3.14 3.75 4.64 4.99
Laurentian Bank Canada 3.00 4.40 3.14 3.14 3.50 4.39 4.79
League Savings & Mortgage - 4.00 3.14 3.04 3.15 3.14 3.45
Libro Credit Union - 3.90 3.15 3.20 3.30 3.45 2.99
London Life 3.00 4.20 3.14 3.14 3.75 4.64 4.99
Manulife Bank 2.70 4.45 3.00 3.05 3.10 3.14 3.19
Manulife Trust - 4.45 3.00 3.05 3.10 3.14 3.19
Meridian Credit Union 2.75 4.00 3.09 3.14 3.65 2.95 3.19
National Bank 3.00 4.40 3.14 3.04 3.75 4.39 4.79
Ontario Civil Service CU 3.00 6.00 3.09 3.09 3.07 3.24 3.24
PACE Savings & CU - 5.00 2.99 3.04 2.79 2.94 3.09
Parama Credit Union 2.85 - 2.85 3.05 3.15 3.25 3.40
Peace Hills Trust - 4.50 3.15 3.50 3.95 3.95 3.49
President's Choice Financial
3.00 6.19 3.19 2.94 3.59 4.04 4.44
Royal Bank of Canada (RBC) 3.00 3.14 3.14 3.04 3.75 4.54 4.94
Servus Credit Union - 4.00 3.14 3.04 3.75 4.24 4.79
Steinbach Credit Union - - 2.65 2.80 2.90 2.95 3.10
TD CanadaTrust 3.00 4.00 3.09 3.04 3.44 3.94 4.79
Tangerine 3.00 - 3.19 3.24 3.49 3.69 3.79
Windsor Family CU - 4.45 3.14 3.14 3.75 3.95 4.29
Your Neighbourhood CU - - 2.89 2.99 3.19 3.35 3.24
Last Update: 2014-07-30