MCAP 3-year variable mortgage rate.
Today’s best 3-year variable in our network is 3.65%. We access MCAP’s broker-channel pricing — typically 15-30 bps below posted — and compare it across 50+ lenders.
MCAP’s best 3-year variable rate today is approximately 3.65% through the broker channel — about $2,840/month on a $700,000 home with 20% down over 25 years. A 3-year variable is a shorter-commitment variable for borrowers who want flexibility and a quick re-shop. The branch rate is rarely MCAP’s best — the broker channel typically runs 15-30 bps lower.
The 3-year variable with MCAP
Who it suits. Borrowers who like the variable structure but want to revisit the whole mortgage in three years rather than five. It suits people expecting rate cuts who also anticipate a change — selling, refinancing, or restructuring — inside three years.
What drives the rate. Like the 5-year variable, it moves with prime and the Bank of Canada, but the shorter term means you renegotiate sooner. Availability is thinner than the 5-year variable, so the lender mix that offers it matters.
Breaking it early. Three months' interest, the same cheap-exit advantage as any variable — paired here with an even shorter commitment.
How MCAP prices the broker channel
Canada's largest non-bank mortgage funder. Typically prices 10-25 bps below the Big-6 on insured purchases. The MCAP Eclipse program is one of the few alt-A monoline programs at competitive rates. Broker-channel only.
MCAP runs two 3-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.
- Aggressive insured pricing
- Fair-IRD penalty calculation
- MCAP Eclipse alt-A program
- BFS-friendly full-doc files
A worked example
On a $700,000 home with 20% down, the mortgage is $560,000. At MCAP’s best 3-year variable rate of 3.65% over a 25-year amortization, the payment is about $2,840/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 MCAP calculator.
Whatever your situation with MCAP
We submit to MCAP'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 — MCAP or whichever lender prices you lowest.
Refinancing
Unlock equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with MCAP — 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 MCAP mortgage
Estimate the MCAP posted-rate IRD penalty before you switch.
6 reasons to get MCAP's 3-year variable through a broker
Why the branch rate is rarely MCAP's best 3-year variable — and how the broker channel changes the math.
Access the broker channel
MCAP's broker-channel 3-year variable rate is typically 15-30 bps below the branch rate — and you can only reach it through a licensed brokerage like ours.
MCAP and 50+ others compete
We submit your file to MCAP's broker desk and the rest of the network on one application, so you get MCAP's best and the market's best side by side.
No bureau pull to start
We can shop your MCAP 3-year variable rate without a hard credit check, so comparing costs you nothing.
We handle the paperwork
From application to MCAP's underwriting to funding, we manage the file end-to-end.
Switch or renew without overpaying
At maturity we benchmark MCAP's renewal/switch offer against the whole market so you never auto-renew high.
Best-rate guarantee
We'll beat any comparable Big-6 3-year variable offer or pay you $500 — and our advice is free, paid by the funding lender.
Why shop MCAP through us
- Direct access to MCAP's broker desk — plus 50+ other lenders on one application.
- Broker-channel pricing 15-30 bps below MCAP's posted rate.
- One application, every lender — MCAP's best and the market's best, then you choose.
- FSRA-licensed advice, no bureau pull to start, best-rate guarantee or $500.