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
Variable6.36.050.25mortgage rate risenJul 14, 2023
6 month7.496.251.24mortgage rate risenOct 17, 2023
1 year6.936.94-0.01mortgage rate loweredFeb 6, 2024
2 years6.376.52-0.15mortgage rate loweredJan 15, 2024
3 years5.645.89-0.25mortgage rate loweredDec 28, 2023
4 years5.625.69-0.07mortgage rate loweredFeb 6, 2024
5 years5.095.24-0.15mortgage rate loweredFeb 6, 2024
7 years6.096.2-0.11mortgage rate loweredFeb 6, 2024
10 years6.146.44-0.3mortgage rate loweredFeb 6, 2024
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)
Variable6.3-6.30N/AN/A
6 month7.493.34-4.15$4,561.84N/A
1 year6.933.59-3.34$7,337.28$7,337.28
2 years6.373.74-2.63$11,523.00$5,761.50
3 years5.643.89-1.75$11,452.15$3,817.38
4 years5.623.94-1.68$14,588.40$3,647.10
5 years5.094.99-0.10$1,081.80$216.36
7 years6.095.80-0.29$4,381.77$625.97
10 years6.146.10-0.04$851.50$85.15
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 6.3 7.49 6.93 6.37 5.64 5.62 5.09
Alterna Bank 6.850 7.140 7.140 7.040 5.590 6.090 5.140
Alterna Savings 6.850 7.140 7.140 7.040 5.590 6.090 5.140
Bank of Montreal (BMO) 7.200 7.890 7.840 7.390 6.950 6.740 6.790
Bank of Nova Scotia
7.650 7.850 7.840 7.390 6.940 6.740 6.790
CIBC Mortgages 7.200 8.250 7.440 7.190 6.990 6.740 6.840
Canada Life 7.200 7.950 7.840 7.440 7.200 6.990 7.040
Canadian Western Bank 6.700 7.950 7.140 6.640 5.940 5.790 5.290
Canadian Western Trust 6.700 7.950 7.140 6.640 5.940 5.790 5.290
Comtech Fire CU - 7.290 7.040 6.890 6.490 6.290 6.190
Desjardins - Caisses 7.200 7.990 7.840 7.390 6.990 6.790 6.840
Effort Trust - 6.900 6.900 6.600 6.450 6.350 6.350
Equitable Bank - - 7.440 7.040 6.690 6.440 5.540
First National Financial LP 7.200 - 7.350 6.520 5.910 5.770 5.670
FirstOntario Credit Union 6.500 8.440 7.240 6.940 6.440 6.140 5.590
HSBC Bank Canada 6.550 6.840 6.340 6.040 5.590 5.690 5.390
Home Trust 6.300 - 7.690 6.860 5.640 6.260 5.290
IC Savings - 8.350 7.540 7.290 7.090 6.840 6.940
ICICI Bank Canada 8.700 - 8.590 8.390 8.090 7.990 7.890
Investors Group Trust 7.200 7.950 7.840 7.440 7.200 6.990 7.040
Kindred Credit Union 7.200 - 7.450 7.350 7.150 6.750 6.490
Laurentian Bank Canada 7.200 7.940 7.890 7.340 6.990 6.840 6.840
Libro Credit Union - 7.750 6.890 6.790 6.590 6.190 5.990
Luminus Financial 7.950 - 7.400 7.000 6.850 6.750 6.350
Manulife Bank 7.200 7.990 7.890 7.490 6.290 6.440 6.040
Manulife Trust - 7.990 7.890 7.490 6.290 6.440 6.040
Meridian Credit Union 6.950 7.940 7.840 7.340 6.990 6.790 5.600
Moya Financial C.U 7.450 - 6.200 6.150 6.100 6.050 6.000
National Bank 7.200 7.940 7.840 7.390 6.990 6.740 6.840
Parama Credit Union 7.200 - 6.990 6.790 6.490 6.290 5.990
Peace Hills Trust - 7.740 6.890 6.690 6.460 6.090 6.050
Rapport Credit Union 7.200 6.000 7.190 6.840 6.740 6.690 5.090
Royal Bank of Canada (RBC) 7.200 7.840 7.840 7.440 6.950 6.740 6.790
Steinbach Credit Union - - 6.300 6.300 6.100 5.700 5.550
TD CanadaTrust 7.350 7.940 7.840 7.340 6.990 6.790 6.840
Tandia Financial CU 6.950 7.990 7.490 7.340 5.850 6.790 6.490
Tangerine 6.850 - 7.390 6.490 5.640 5.640 5.540
Last Update: 2024-02-14