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Canadian Mortgage Rates
The interest rates posted herein are updated daily.
| Compare Our Rates with the Banks | ||||
|---|---|---|---|---|
| Term | Posted Bank Rates | Our Best Rates | You save (%) | |
| Variable | 2.75% | 2.05% | 0.70% | |
| 1 Year | 3.50% | 2.60% | 0.90% | |
| 2 Year | 3.85% | 3.10% | 0.75% | |
| 3 Year | 4.40% | 3.49% | 1.14% | |
| 4 Year | 5.44% | 3.89% | 1.55% | |
| Hybrid | ---- | 2.87% | ||
| 5 Year | 5.79% | 3.99% | 1.80% | |
| 7 Year | 6.75% | 4.99% | 1.76% | |
| 10 Year | 6.90% | 5.49% | 1.41% | |
| Zero Down | ---- | 5.79% | Line of Credit | 3.75% | 3.75% |
| Prime Rate | ---- | 2.75% | ||
| CMHC / Genworth Insurance Premiums | |
|---|---|
| 95% | 2.75% |
| 90% | 2.00% |
| 85% | 1.75% |
| 80% | 1.00% (where applicable) |
| 75% | 0.65% (where applicable) |
| 65% | 0.50% (where applicable) |
| Genworth Alt A-BFS Program (Purchase) | |
|---|---|
| 95% | 6.00% |
| 90% | 4.75% |
| 85% | 2.90% |
| 80% | 1.64% |
| Non-Conforming Lenders Premiums (Average) | |
|---|---|
| 100% | 4.00% (Currently not available) |
| 95% | 3.25% |
| 90% | 3.00% |
| 85% | 2.50% |
| 80% | 2.00% |
| 75% | 1.50% |
| Beacon Score Requirments | |
|---|---|
| 100% (Non-conforming) | 640 |
| 5% Cashback | 650 |
| 95% BFS | 700 |
| 90% BFS | 650 |
| 95% Rental | 680 |
| Lender for Life | 620 |
| Any Insured % | 620 |
| Amortization Add-ons | |
|---|---|
| 30 Years | 0.20% |
| 35 Years | 0.40% |
| 40 Years | Conventional / Non-conforming only |
Which term is best for you?
A professional mortgage broker from Verico Mortgage Options Ltd. will work with you to find the lowest mortgage rates, best terms and mortgage products that fit your specific situation. Getting to know you and your comfort level with risk tolerance is one way, and giving you information that we receive from economists about where mortgage rates are likely to be going is another. Having said that however, no one has a crystal ball so looking to the past may give you a better idea of where things could go in the future and what may be closer to the so called "norm".
In an effort to compare mortgage rates as accurately as possible, we have taken the historical posted Canadian mortgage rates and discounted them according to what we feel is a typical discount today for these mortgage products*, as they were not always as heavily discounted as what you see on our web site. Please keep in mind there is no right or wrong answer when picking the term of your mortgage, however there are terms that may be better suited for you. Let us help you to find the lowest mortgage rates, best terms and mortgage products that fit your situation.
* The 3 year has been discounted by 1.25% and the 5 year by 1.40%
10 Year Mortgage Rate History |
||
| 1998 | 2008 | |
Canadian Mortgage Brokers
Call one of our Canadian Mortgage Brokers today, or apply online for a Free Pre-Approval today.







