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
Variable2.102.15-0.05mortgage rate loweredJun 22, 2016
6 month3.103.95-0.85mortgage rate loweredDec 31, 2015
1 year2.292.190.10mortgage rate risenNov 17, 2016
2 years2.142.19-0.05mortgage rate loweredApr 7, 2016
3 years2.342.240.10mortgage rate risenDec 1, 2016
4 years2.492.390.10mortgage rate risenDec 1, 2016
5 years2.492.350.14mortgage rate risenNov 28, 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)
Variable2.102.700.60N/AN/A
6 month3.103.140.04$44.28N/A
1 year2.293.140.85$1,875.56$1,875.56
2 years2.143.040.90$3,933.04$1,966.52
3 years2.343.651.31$8,515.90$2,838.63
4 years2.494.391.90$16,363.29$4,090.82
5 years2.494.642.15$22,964.85$4,592.97
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 2.10 3.10 2.29 2.14 2.34 2.49 2.49
ATB Financial 2.500 4.100 3.040 2.390 2.590 2.690 2.790
Alterna Bank 2.450 4.000 2.790 2.740 2.590 2.840 2.590
Alterna Savings 2.450 4.000 2.790 2.740 2.590 2.840 2.590
Bank of Montreal (BMO) 2.850 4.200 3.090 3.190 3.590 4.090 4.840
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 - 2.890 2.790 2.790 2.990 2.440
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 2.540 2.790 2.740
First National Financial LP 2.350 3.100 2.290 2.490 2.590 2.690 2.790
FirstOntario Credit Union 2.500 4.340 2.790 2.390 2.540 2.690 2.690
HSBC Bank Canada 2.800 4.450 3.140 3.140 3.390 4.090 4.640
Home Trust Company-Agent 2.500 3.950 2.690 2.140 2.340 2.590 2.690
ICICI Bank Canada 3.050 - 2.940 2.940 2.940 2.990 2.990
Investors Group Trust 2.700 4.200 3.140 3.090 3.390 3.890 4.640
Laurentian Bank Canada 2.700 4.400 2.890 2.840 3.390 3.890 4.740
League Savings & Mortgage - 4.450 2.990 2.590 2.890 2.690 2.940
Libro Credit Union - 3.750 2.600 2.650 2.690 2.690 2.690
London Life 2.700 4.200 3.140 3.090 3.390 3.890 4.640
Luminus Financial 3.250 - 3.250 3.200 3.650 4.000 4.500
Manulife Bank 2.600 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 2.840 2.790 2.640 3.890 2.490
National Bank 2.700 4.400 3.140 3.040 3.390 3.890 4.740
PACE Savings & CU - 5.000 3.140 3.040 3.650 4.390 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 - - 2.390 2.390 2.390 2.490 2.490
TD CanadaTrust 2.850 3.140 3.040 2.840 3.440 3.890 4.640
Tangerine 2.700 - 3.190 3.240 3.490 3.690 3.790
WFCU Credit Union - 4.450 3.000 3.040 3.650 4.390 4.640
Your Neighbourhood CU - - 2.799 2.890 3.090 3.150 2.940
Last Update: 2016-12-02