from
7.79%
1-Year Fixed
Today's mortgage rates
Current mortgage rates, honestly explained.
These are current rates available to qualified borrowers through Real Mortgage Associates' lender partners. Your rate depends on your situation. Tisha tells you which one you actually qualify for, and why, before you fall in love with a number.
from
7.34%
2-Year Fixed
from
6.29%
3-Year Fixed
from
6.04%
4-Year Fixed
from
4.79%
5-Year Fixed
How to read these rates
Four things that decide your rate.
Insured or conventional
Less than 20% down means an insured mortgage, which lenders price differently. 20% or more down, refinances and rentals are conventional and often priced slightly higher.
Fixed or variable
Fixed rates follow bond yields and lock your payment for the term. Variable rates follow prime and can rise or fall. The right choice is about your tolerance for change, not a prediction.
Term length
Shorter terms give flexibility; five-year terms are the most common choice and give payment certainty. Tisha matches the term to what the next few years of your life look like.
The fine print
Prepayment privileges, penalty formulas and portability vary widely. A slightly higher rate with a fair penalty can be the cheaper mortgage if your plans change.
Quick estimate
What would your payment be?
A fast estimate using Canadian semi-annual compounding. For the full set of calculators, including affordability and land transfer tax, head to the calculators page.
Estimated payment$0
Estimate only. Excludes property taxes, insurance and default insurance premium. OAC, E&OE.
Beyond the rate
Why the rate is only part of the mortgage.
The rate matters, and Tisha shops it across lenders. But sometimes the features and benefits outweigh a small rate difference. Some lenders offer flexible prepayment privileges that let you pay 15% or 20% extra every year and double up payments, which can put you years ahead. Others charge penalties on a formula that can cost thousands if you need to break the mortgage early.
Portability matters if you might move during the term. Lender policies on self-employed income, rental income and second properties matter if you plan to grow. Tisha explains all of it, and then the choice is yours.
Why is the rate I am offered different from the one on this page?
Rates here are available to qualified borrowers through our lender partners. Your rate depends on whether the mortgage is insured, your credit, your down payment or equity, the property, the term and the lender's own pricing that day. Tisha quotes you the rate you actually qualify for, with the reasons.
Insured versus uninsured: why does it change the rate?
Mortgages with less than 20% down are default-insured, which removes risk for the lender, so they are often priced lower. Conventional mortgages with 20% or more down, refinances and rentals carry the lender's own risk and are priced a little higher. That is why an advertised rate is not always available to everyone.
How long can I hold a rate?
Most lenders hold a rate for 90 to 120 days from pre-approval. If rates drop before you close, you get the lower rate. If they rise, you are protected.
Should I choose a mortgage on rate alone?
Not automatically. Prepayment privileges, penalty calculations, portability and how the lender treats your income all matter. A rate that is slightly higher but comes with a fair penalty formula can save you thousands if your plans change. Tisha shows you the whole picture.
How often do these rates change?
Fixed rates move with the bond market and variable rates with the Bank of Canada's policy rate. Tisha updates this page as her lender partners change pricing. Call for the live rate before you make a decision.
Free consultation
Get the rate you actually qualify for.
Tell Tisha what you are doing and she will come back with the real number, the lender behind it, and the fine print that matters. Free, no obligation.
- Over 20 years in retail banking
- Former mortgage underwriter: she knows what lenders want
- Banks, credit unions, monoline and alternative lenders
- Lender-paid on most residential mortgages