The Best Mortgage Rates in Canada

RateSupermarket.ca compares 100+ lenders across Canada including banks, brokers, and credit unions so that you're seeing the current best mortgage rate on the market (which might not always be from one of the top five banks).

With a fixed mortgage rate you are ‘locked in’ to that rate for a set period of time, while with a variable mortgage rate the rate changes based on the mortgage lender's prime rate.

If you are unsure about whether a rate is best suited for your needs, we recommend speaking with a mortgage expert, or select ‘Get Rate’ above and fill out your contact details to be put in touch with a mortgage expert.

The most popular mortgage rate is a five year fixed mortgage rate.

Above you can view the current lowest rate in your region, however, lowest doesn't necessarily mean best. Select ‘View All’ to view a complete list of all of the rates for that term in your area and see how your rate stacks up.

A mortgage broker is a professional who is trained to represent you when you're seeking financing from a lender. Mortgage brokers work for you (the customer), have access to a variety of rates and lenders, and are absolutely free to use.

If you have a question about any of the above rate, select ‘Get Rate’, fill out your contact details and we'll put you in touch with a mortgage expert who can best answer your questions.

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Use the Mortgage Calculator to see how your mortgage rate stacks up, and to determine your monthly payments. Enter your current mortgage rate, and compare your results with the best mortgage rates in the province. Canadians who compare their mortgage rate can save thousands of dollars.

You can also use the mortgage calculator to see how payment options like rapid and lump sum payments can decrease your mortgage amortization and save you thousands of dollars in interest!

The Mortgage Affordability Calculator can help you determine how much of a mortgage you can afford, and how big your monthly payments should be. Enter your gross household income, monthly expenses, debts, and other additional costs to determine your affordability options.

Using the Affordability Calculator is an effective way to create a home buying budget, refinance your current home, or choose the best mortgage rate for you.

Depending on your mortgage agreement, refinancing or paying off your mortgage early could have associated fees and costs. Use the Mortgage Penalty Calculator to determine the penalty amount for breaking your mortgage. Enter your mortgage value, current mortgage rate, and the length of time remaining on your mortgage contract. Generally, you can expect to pay the equivalent of 3 months of your mortgage's monthly interest, or the Interest Rate Differential Amount.

Do you have questions about the penalties associated with breaking your mortgage? Connect with a mortgage expert for answers. It's free, and you have no obligations.