Mortgage rates today in Canada
Among lenders that lend across Canada, the lowest 5-year fixed rate we collected is 4.69% insured (National Bank) and 5.14% with 20%+ down (BMO); the lowest 5-year variable is 4.10% insured (RBC Royal Bank). The Bank of Canada raised its policy rate to 2.50% on Oct 28, 2026, and prime is 4.70%. Every rate below names its lender, links to the page it came from and shows the date.
Mitey reads every rate off the lender's own page. If a page doesn't show a rate, the cell stays empty. Nothing is estimated or paid for.| Term | Insured (under 20% down) | Uninsured (20%+ down) | Big-bank posted | Average new loan (BoC) |
|---|---|---|---|---|
| 1-year | RBC Royal Bank · source · Nov 1 · page doesn't split insured$2,948.00/mo | RBC Royal Bank · source · Nov 1 · page doesn't split insured$2,948.00/mo | 5.49%wk of Oct 28 | 4.94% / 5.31%insured / uninsured, Aug 2026 |
| 2-year | Simplii Financial · source · Nov 2 · page doesn't split insured$2,862.65/mo | Simplii Financial · source · Nov 2 · page doesn't split insured$2,862.65/mo | — | 4.94% / 5.31%insured / uninsured, Aug 2026 |
| 3-year | BMO · source · Nov 2 · page doesn't split insured$2,890.97/mo | BMO · source · Nov 2 · page doesn't split insured$2,890.97/mo | 6.05%wk of Oct 28 | 4.02% / 4.13%insured / uninsured, Aug 2026 |
| 4-year | RBC Royal Bank · source · Nov 1 · page doesn't split insured$2,919.42/mo | RBC Royal Bank · source · Nov 1 · page doesn't split insured$2,919.42/mo | — | 4.02% / 4.13%insured / uninsured, Aug 2026 |
| 5-year | National Bank · source · Nov 2$2,820.42/mo | BMO · source · Nov 2 · page doesn't split insured$2,948.00/mo | 6.19%wk of Oct 28 | 4.12% / 4.58%insured / uninsured, Aug 2026 |
| 7-year | RBC Royal Bank · source · Nov 1 · page doesn't split insured$2,979.59/mo | RBC Royal Bank · source · Nov 1 · page doesn't split insured$2,979.59/mo | — | 4.12% / 4.58%insured / uninsured, Aug 2026 |
| 10-year | Tangerine · source · Nov 2 · page doesn't split insured$3,169.37/mo | Tangerine · source · Nov 2 · page doesn't split insured$3,169.37/mo | — | 4.12% / 4.58%insured / uninsured, Aug 2026 |
What's moving mortgage rates right now?
Fixed rates follow Government of Canada bond yields; variable rates follow prime, which follows the Bank of Canada. The 5-year bond yield was 3.58% on Oct 29, 2026, +0.31 points from the Jul 2026 average of 3.27%. The Bank raised its policy rate on Oct 28, 2026 and said there could be a need to increase it further; the next decision is Dec 9, 2026, in 38 days.
Posted rates vs what borrowers actually pay
The big banks' posted 5-year rate (6.19%) has sat well above the average rate on new 5-year fixed mortgages (4.12% insured, 4.58% uninsured in Aug 2026) for years. Posted rates are list prices. They matter for one thing: many banks use them to calculate the penalty if you break a fixed mortgage early.
See every series since 2015 or work out a penalty with the penalty calculator.
Show the numbers
| Posted 5-yr (big banks) | Average new insured 5-yr+ | 5-yr GoC bond yield | |
|---|---|---|---|
| Jan 2019 | 5.34% | 3.69% | 1.78% |
| Apr 2019 | 5.34% | 3.36% | 1.54% |
| Jul 2019 | 5.19% | 2.94% | 1.46% |
| Oct 2019 | 5.19% | 2.80% | 1.42% |
| Jan 2020 | 5.19% | 2.91% | 1.29% |
| Apr 2020 | 5.04% | 2.65% | 0.38% |
| Jul 2020 | 4.94% | 2.36% | 0.31% |
| Oct 2020 | 4.79% | 1.99% | 0.40% |
| Jan 2021 | 4.79% | 1.92% | 0.43% |
| Apr 2021 | 4.79% | 1.95% | 0.93% |
| Jul 2021 | 4.79% | 2.17% | 0.81% |
| Oct 2021 | 4.79% | 2.12% | 1.50% |
| Jan 2022 | 4.79% | 2.52% | 1.64% |
| Apr 2022 | 4.99% | 3.14% | 2.75% |
| Jul 2022 | 6.14% | 3.97% | 2.66% |
| Oct 2022 | 6.49% | 4.85% | 3.43% |
| Jan 2023 | 6.49% | 5.02% | 3.04% |
| Apr 2023 | 6.49% | 4.89% | 2.97% |
| Jul 2023 | 6.49% | 5.02% | 3.90% |
| Oct 2023 | 7.04% | 5.54% | 4.12% |
| Jan 2024 | 6.89% | 5.27% | 3.43% |
| Apr 2024 | 6.84% | 4.92% | 3.87% |
| Jul 2024 | 6.79% | 4.82% | 3.09% |
| Oct 2024 | 6.49% | 4.39% | 3.02% |
| Jan 2025 | 6.49% | 4.29% | 2.74% |
| Apr 2025 | 6.49% | 3.98% | 2.67% |
| Jul 2025 | 6.09% | 3.95% | 3.01% |
| Oct 2025 | 6.09% | 3.97% | 2.70% |
| Jan 2026 | 6.09% | 3.94% | 2.93% |
| Apr 2026 | 6.09% | 3.95% | 3.20% |
| Jul 2026 | 6.09% | 4.05% | 3.27% |
| Oct 2026 | 6.19% | 0.00% | 3.58% |
Turn a rate into dollars
Three calculators built on the same board. Every input lives in the link, so you can share or save a scenario.
Why rates move
- Why fixed rates follow bond yields, not the Bank of Canada
- What the October 2026 rate hike means for variable, fixed and renewing borrowers
- Posted vs special rates and why the gap sets your penalty
- Insured vs uninsured rates: why 20% down can cost you a higher rate
- Fixed vs variable, tested against the break-even calculator
The next question, answered on our sister sites
Mortgage rates today: common questions
What is the lowest 5-year fixed mortgage rate in Canada today?
Of the rates we collected from lenders' own websites on Nov 2, 2026, the lowest 5-year fixed was 4.69% for an insured mortgage (National Bank) and 5.14% for an uninsured one (BMO). Brokers and lenders may offer lower rates to individual borrowers that aren't published.
Are these live mortgage rates?
No. Each rate was read off the lender's website on the date shown (this collection: Nov 2, 2026) and links to that page. Lenders change rates without notice, so check the lender's page before relying on one. Bank of Canada figures carry their own dates.
Why are insured mortgage rates lower than uninsured rates?
An insured (high-ratio) mortgage is backed by mortgage default insurance from CMHC, Sagen or Canada Guaranty, which the borrower pays for. The lender's risk is lower, so it can charge less. You need insurance with under 20% down; with 20% or more down the mortgage is usually uninsured and priced higher.
What's the difference between a posted rate and a special rate?
A posted rate is a lender's list price; a special (or discounted) rate is what it actually advertises to borrowers. The big banks' typical posted 5-year fixed rate was 6.19% in the week of Oct 28, 2026 (Bank of Canada). Posted rates matter because many banks use them to calculate the penalty for breaking a fixed mortgage.
Did the Bank of Canada raise interest rates?
Yes. On Oct 28, 2026 the Bank of Canada raised its policy rate by 0.25 points to 2.50%, its first increase since July 2023. Lenders' prime rates follow; prime is 4.70%. Variable-rate payments rise with prime; existing fixed-rate mortgages don't change until renewal.
Should I choose a fixed or variable rate?
It depends on how much rates move. Today the lowest uninsured 5-year variable we collected (4.20%) is 0.94% points below the lowest fixed. Our fixed-vs-variable calculator shows how many quarter-point hikes it would take for variable to cost more.
Sources: Bank of Canada posted rates, effective rates on new lending, bond yields, and each lender's own rates page (linked in the board).