Guides
Mortgage rate guides
Short answer
Plain-language guides that explain why Canadian mortgage rates move and what they cost you, each worked through with the rates we collected from lenders and Bank of Canada data, each with a worked example you can open in a calculator, and each listing the primary sources behind it.
Why rates move
Why fixed mortgage rates move (it's the bond market, not the Bank of Canada)Fixed rates follow 5-year bond yields. The data since 2020, and the spread lenders add.Read →The Bank of Canada raised rates on October 28, 2026: what it means for your mortgageVariable payments rise, fixed don't until renewal; what to do before the next decision.Read →Posted vs special mortgage rates, and why the gap sets your penaltyPosted rates are list prices; their real job is in the penalty formula.Read →Insured vs uninsured mortgage rates: why 20% down can mean a higher rateWhy insured rates are lower, what the premium costs, and the insurable middle tier.Read →
Mortgage basics
Fixed vs variable mortgage rates: what would it take for variable to lose?Today's break-even: how many hikes before variable loses.Read →Mortgage basics: rate, term and amortization, with today's numbersRate, term, amortization and compounding, worked through with today's rates.Read →Minimum down payment in Canada, and how it changes your rateThe minimums, and how down payment sets your rate tier and premium.Read →Mortgage pre-approval: rate holds and the rate you'll qualify atRate holds, documents, and the stress-test rate you qualify at.Read →Debt-to-income ratios (GDS and TDS) at today's stress-test rateGDS 39%, TDS 44%, and what they allow at today's qualifying rate.Read →What credit score do you need for a mortgage in Canada?The 600 insured minimum, what lenders check and how to fix your report.Read →
| 5-yr bond yield | 3.58%2026-10-29 |
|---|---|
| Average new insured 5-yr+ fixed | 4.12%2026-08 |
| Spread lenders charged | 0.79 pointssame month |
