Best mortgage rates in Canada.
Today’s best 5-year fixed across our network is 4.09% and 5-year variable 3.55%. We show the lowest offer per term and type across our 100+ lender panel, updated daily. Your personalized rate depends on your file — get an exact quote on one application.
A posted rate is national; the file behind it is not. Prices, lender appetite and closing costs all move by market, so a search for Burlington mortgage rates is really a question about which lenders will fund a Halton file at that price point — and who is going to work it for you. Pick your market above and we’ll pair the rate with a local advisor.
Which lender will approve you?
Tell Maya your situation, or tap what fits to see the lenders that typically qualify it.
How many lenders fit your file?
A live preview against our broker-channel panel. No bureau pull.
Understanding Canadian mortgage rates
Fixed vs. variable
Fixed locks your rate for the full term — predictable payments, larger break penalty (IRD). Variable tracks the Bank of Canada’s policy rate — usually cheaper, with a 3-months-interest break cost, but your payment can move. Canadian fixed rates compound semi-annually, not monthly.
What sets your rate
Credit score, loan-to-value, income stability, property type, and whether the mortgage is insured all move your number. Insured (under 20% down) often prices lowest; rental and alternative-lending files price higher. The posted “best” rate is the starting point — your file sets the final.
How to get the lowest
Don’t take one bank’s rate sheet. We put your file in front of 100+ lenders who compete for it, then pass on the volume pricing we hold. Get a pre-approval to hold today’s rate for 90-120 days while you shop.
Amortization vs. term. Your term is how long the quoted rate is locked (usually 5 years); your amortization is how long you take to pay the mortgage off in full. Most Canadians pick 25 years, but a longer 30-year amortization — now available to first-time buyers and on new-build purchases — lowers the monthly payment in exchange for more total interest over the life of the loan. Model both on the payment calculator, or compare the trade-off in 25- vs 30-year amortization.
Today’s rate read
AI-generated from the live board · live feed · as of 2026-08-19T05:06:01.874Z
The best 5-year fixed mortgage rate is currently 4.09%, while the best 5-year variable rate is 3.55%. This means fixed rates are generally higher than variable rates by 54 basis points, with the lender's prime rate at 5.95% and the Bank of Canada's overnight rate at 4.25%, indicating a downward trend in borrowing costs.
Mortgage rates — FAQ
What is the best mortgage rate in Canada right now?
Fixed or variable — which is better in 2026?
Are insured (high-ratio) mortgage rates lower?
How often do these rates update?
Can I hold today's rate before I buy or renew?
How does a broker get a lower rate than my bank?
What's the difference between a posted rate and a special (promotional) offer?
How do other debts, like credit cards, affect my rate and mortgage payments?
Today’s best mortgage rates by city
The board above is the same across Canada. What changes locally is the price band your file sits in, the property forms lenders are comfortable with, and which regional lenders are on the panel — each market hub prices that out.