Best Mortgage Rate Options in Canada
Our mortgage brokers are able to offer our clients the best mortgage rate options in Canada! The interest rates posted on this page are just a sampling of the best mortgage rates we are able to offer from over 50 of the countries top lenders. Remember, these are fully discounted wholesale mortgage rate options so there is no need to negotiate; we work for you, not the bank!
|Term||Bank Mortgage Rates||Best Mtg Rates||You save (%)|
|1 Year Fixed||3.20%||2.89%||0.31%|
|2 Year Fixed||3.55%||2.69%||0.86%|
|3 Year Fixed||3.95%||2.59%||1.36%|
|4 Year Fixed||4.64%||2.90%||1.65%|
|5 Year Quick Close||5.24%||2.89%||2.35%|
|7 Year Fixed||6.35%||3.69%||2.66%|
|10 Year Fixed||6.75%||3.69%||3.06%|
|5% Cash Back Mortgage||----||5.24%||Line of Credit (HELOC)||3.50%||3.50%|
Finding the Best Mortgage Rates
Shopping for mortgage rates in Canada can be difficult. Lenders do not like to quote their best rates or any mortgage deals they may have until they know what you, as a client, brings to the table in terms of business. This is why mortgage brokers have become so popular to new home buyers; there are no games when you work with a broker, we offer our clients our best Canadian mortgage rates from day one.
Anytime you shop for mortgage rates in the retail channel (through a branch), there is always a good probability you could pay too much. You have to remember that you are dealing with a bank employee whose job it is to make the bank more money. So its hardly surprising that clients who deal with a broker in the wholesale channel, pay less interest and get a better mortgage for their specific situation.
These mortgage rates in Canada that you see here are fully discounted, they are the wholesale interest rates banks offer to the broker channel. They do not apply to sub-prime mortgages or private financing.
Knowing which term is right for you can also be a challenge, to see a historical reference of fixed and variable rate mortgages, please see our 'Mortgage Rate History' page. Our Bank Mortgage Rates are supplied by Scotiabank.