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
Variable2.352.200.15mortgage rate risenJan 7, 2016
6 month3.103.95-0.85mortgage rate loweredDec 31, 2015
1 year2.192.29-0.10mortgage rate loweredSep 19, 2015
2 years2.242.090.15mortgage rate risenNov 5, 2015
3 years2.292.34-0.05mortgage rate loweredDec 31, 2015
4 years2.492.54-0.05mortgage rate loweredAug 28, 2015
5 years2.442.49-0.05mortgage rate loweredJan 27, 2016
7 years3.443.390.05mortgage rate risenDec 16, 2015
10 years3.844.09-0.25mortgage rate loweredFeb 5, 2015
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)
Variable2.352.700.35N/AN/A
6 month3.103.140.04$44.28N/A
1 year2.193.140.95$2,096.32$2,096.32
2 years2.243.040.80$3,496.47$1,748.23
3 years2.293.651.36$8,839.74$2,946.58
4 years2.494.391.90$16,363.29$4,090.82
5 years2.444.642.20$23,492.52$4,698.50
7 years3.445.301.86$27,608.60$3,944.09
10 years3.846.102.26$47,153.98$4,715.40
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 2.35 3.10 2.19 2.24 2.29 2.49 2.44
ATB Financial 2.600 4.000 2.940 2.640 2.690 2.740 2.990
Alterna Bank 2.700 4.000 2.850 2.790 2.590 2.840 2.880
Alterna Savings 2.700 4.000 2.850 2.790 2.590 2.840 2.880
Bank of Montreal (BMO) 2.700 4.000 2.890 2.990 3.390 3.890 4.740
Bank of Nova Scotia
2.700 4.550 3.290 3.090 3.390 3.890 4.490
CIBC Mortgages 2.700 3.140 2.840 2.790 3.390 4.090 4.790
Caisses Desjardins 2.700 4.400 3.140 3.240 3.390 3.890 4.740
Canadian Western Bank 2.900 4.000 3.140 3.040 3.650 4.200 4.740
Canadian Western Trust 2.900 4.000 3.140 3.040 3.650 4.200 4.740
Comtech Credit Union - 6.200 2.840 2.890 2.950 2.990 2.890
DUCA Financial Services 2.500 - 3.090 3.000 2.990 3.090 2.790
Effort Trust - 4.450 3.350 3.500 3.700 4.300 4.350
Equitable Bank - - 3.140 3.040 3.650 4.390 4.640
First Calgary Financial - 4.000 2.890 2.890 2.840 2.890 2.940
First National Financial LP 2.400 3.000 2.290 2.240 2.490 2.640 2.790
FirstOntario Credit Union 2.700 4.240 2.690 2.350 2.390 2.590 2.690
HSBC Bank Canada 2.800 4.450 3.140 3.140 3.540 4.240 4.740
Home Trust Company 2.500 3.950 2.690 2.240 2.390 2.590 2.740
ICICI Bank Canada 3.050 - 3.150 3.650 3.640 3.690 3.690
Investors Group Trust 2.700 4.200 3.140 3.090 3.390 3.890 4.740
Laurentian Bank Canada 2.700 4.400 2.890 2.840 3.390 3.890 4.740
League Savings & Mortgage - 4.450 2.990 2.690 2.890 2.990 3.040
Libro Credit Union - 3.750 2.700 2.750 2.790 2.850 2.890
London Life 2.700 4.200 3.140 3.090 3.390 3.890 4.740
Manulife Bank 2.400 4.450 3.000 2.940 2.840 2.790 2.890
Manulife Trust - 4.450 3.000 2.940 2.840 2.790 2.890
Meridian Credit Union 2.400 4.000 1.690 3.090 3.550 2.490 2.590
National Bank 2.700 4.400 3.140 3.040 3.390 3.890 4.740
PACE Savings & CU - 5.000 2.890 2.590 3.390 3.890 4.640
Parama Credit Union 2.650 - 2.800 2.850 2.950 3.050 3.150
Peace Hills Trust - 4.500 3.150 3.500 3.750 3.850 3.950
President's Choice Financial
2.700 6.190 3.140 2.790 3.340 3.990 4.440
Rapport Credit Union 2.850 6.000 3.090 3.040 3.500 3.040 2.990
Royal Bank of Canada (RBC) 2.700 3.140 3.140 3.040 3.650 4.390 4.640
Steinbach Credit Union - - 2.450 2.550 2.550 2.650 2.650
TD CanadaTrust 2.700 3.140 2.990 2.840 3.390 3.890 4.640
Tangerine 2.700 - 3.190 3.240 3.490 3.690 3.790
WFCU Credit Union - 4.450 3.000 3.000 3.050 3.050 3.100
Your Neighbourhood CU - - 2.799 2.890 3.090 3.150 3.190
Last Update: 2016-02-12