Desjardins 5-year variable mortgage rate.
Today’s best 5-year variable in our network is 3.60%. We access Desjardins’s broker-channel pricing — typically 15-30 bps below posted — and compare it across 50+ lenders.
Desjardins’s best 5-year variable rate today is approximately 3.60% through the broker channel — about $2,826/month on a $700,000 home with 20% down over 25 years. A 5-year variable is the term for borrowers who expect rates flat-to-lower and want the cheapest exit. The branch rate is rarely Desjardins’s best — the broker channel typically runs 15-30 bps lower.
Desjardins payments by term
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | — | — |
| 5-Year Variable | — | — |
| 3-Year Fixed | — | — |
| 3-Year Variable | — | — |
| 2-Year Fixed | — | — |
| 1-Year Fixed | — | — |
| 4-Year Fixed | — | — |
| 7-Year FixedLowest | 4.44% | $3,081/mo |
| 10-Year Fixed | — | — |
The 5-year variable with Desjardins
Who it suits. Borrowers comfortable with some payment movement in exchange for a usually-lower starting rate and a far cheaper break cost. It suits people who might move, refinance, or sell within the term, and those who believe the Bank of Canada's next moves are cuts rather than hikes.
What drives the rate. A 5-year variable moves with your lender's prime rate, which tracks the Bank of Canada's overnight policy rate. When the Bank cuts, your rate (and often your payment) falls within weeks; when it hikes, it rises. The variable-versus-fixed gap — the 'spread' — widens and narrows with the market's rate outlook.
Breaking it early. The break penalty is only three months' interest — typically a fraction of a fixed mortgage's IRD — which is the single biggest reason mobile or uncertain borrowers choose variable.
How Desjardins prices the broker channel
Canada's largest financial cooperative and Quebec's dominant retail lender. Provincially regulated in Quebec; competitive A-lender residential pricing with strong Quebec presence. Operates across Canada via Desjardins Ontario Credit Union.
Desjardins runs two 5-year variable rate sheets: the posted/branch rate and a wholesale broker-channel rate a licensed brokerage accesses, usually 15-30 bps lower because the broker handles origination. You can’t reach it by walking into a branch. On a $700,000 mortgage, 20 bps is roughly $1,400 a year.
- Quebec market dominance
- Cooperative ownership model
- Bilingual French service
- Standard A-lender
A worked example
On a $700,000 home with 20% down, the mortgage is $560,000. At Desjardins’s best 5-year variable rate of 3.60% over a 25-year amortization, the payment is about $2,826/month. Walk into a branch at the posted rate (~15-30 bps higher) and you’d pay $50-100 more a month for the identical mortgage — which is exactly what the broker channel saves. Model your numbers in the Desjardins calculator.
Whatever your situation with Desjardins
We submit to Desjardins's broker desk and 50+ other lenders on one application — whichever prices your file lowest wins.
First-time buyers
5% down with FHSA + RRSP HBP optimization — Desjardins or whichever lender prices you lowest.
Refinancing
Unlock equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with Desjardins — most clients beat the first offer by 30-60 bps.
Self-employed
Business-for-self files priced right across A-lender, alt-A and private.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
Breaking a Desjardins mortgage
Estimate the Desjardins posted-rate IRD penalty before you switch.
6 reasons to get Desjardins's 5-year variable through a broker
Why the branch rate is rarely Desjardins's best 5-year variable — and how the broker channel changes the math.
Access the broker channel
Desjardins's broker-channel 5-year variable rate is typically 15-30 bps below the branch rate — and you can only reach it through a licensed brokerage like ours.
Desjardins and 50+ others compete
We submit your file to Desjardins's broker desk and the rest of the network on one application, so you get Desjardins's best and the market's best side by side.
No bureau pull to start
We can shop your Desjardins 5-year variable rate without a hard credit check, so comparing costs you nothing.
We handle the paperwork
From application to Desjardins's underwriting to funding, we manage the file end-to-end.
Switch or renew without overpaying
At maturity we benchmark Desjardins's renewal/switch offer against the whole market so you never auto-renew high.
Best-rate guarantee
We'll beat any comparable Big-6 5-year variable offer or pay you $500 — and our advice is free, paid by the funding lender.
Why shop Desjardins through us
- Direct access to Desjardins's broker desk — plus 50+ other lenders on one application.
- Broker-channel pricing 15-30 bps below Desjardins's posted rate.
- One application, every lender — Desjardins's best and the market's best, then you choose.
- FSRA-licensed advice, no bureau pull to start, best-rate guarantee or $500.