Today's Best Mortgage Rates in Canada
Rates updated daily. Lenderoo shops 40+ lenders and connects you with a top mortgage professional to find you the most competitive mortgage rates available.
Compare rates, understand your options, and secure the best deal for your home financing needs—we work for you, not the banks.
Current Mortgage Rates
These rates are examples only. Actual rates vary based on credit score, down payment, property type, and other factors. Contact us for personalized rates.
Fixed Rates
1-Year Fixed
2-Year Fixed
3-Year Fixed
5-Year Fixed
7-Year Fixed
10-Year Fixed
Variable Rates
Variable Rate (Prime - 0.90%)
Variable Rate (Prime - 0.70%)
Variable Rate (Prime - 0.50%)
*Based on a $400,000 mortgage with 25-year amortization. Rates are subject to change and qualification requirements.
Fixed vs Variable Rates
Understanding the difference between fixed and variable rates is crucial to making the right decision for your financial situation.
A fixed-rate mortgage maintains the same interest rate throughout the entire term of your mortgage, providing stability and predictability in your payments.
Benefits:
- Payment stability and predictability
- Protection from rising interest rates
- Easier budgeting and financial planning
- Peace of mind during economic uncertainty
Best For:
Risk-averse buyers, those on tight budgets who need payment certainty, first-time homebuyers, or anyone who expects rates to rise.
A variable-rate mortgage has an interest rate that changes based on your lender's prime rate, which follows the Bank of Canada's policy rate.
Benefits:
- Potentially lower rates than fixed
- Benefit from rate decreases
- More flexibility with penalties
- Historically lower costs over time
Best For:
Those comfortable with payment fluctuations, expecting rates to drop, have flexible budgets, or planning to pay off mortgage quickly.
Understanding Mortgage Rates
Everything you need to know about mortgage rates to make an informed decision.
Client Success Stories
See how we've helped clients save thousands on their mortgages
Lenderoo found me a rate 0.35% lower than my bank offered. That's over $4,200 in savings over my 5-year term! The process was smooth and Adam explained everything clearly.
Sarah M.
March 2024
We were blown away by the service. Not only did we get a great rate, but the team walked us through every step of the process. Saved us almost $7,000 compared to going directly to our bank.
Michael & Jennifer T.
February 2024
As a first-time buyer, I was nervous about the whole process. Lenderoo made it easy and got me a fantastic rate. Saved over $3,500 and learned so much about mortgages along the way.
David L.
January 2024
Refinanced through Lenderoo and couldn't be happier. They found a rate that saved me $425/month on my payments. Professional, knowledgeable, and truly care about getting the best deal.
Priya S.
December 2023
We needed to move quickly and Lenderoo delivered. Got us pre-approved in 24 hours and secured an amazing rate that saved us over $8,000. Would absolutely recommend!
Robert & Emma K.
November 2023
Best decision we made was calling Lenderoo. The rate they got us beat our bank by 0.25% and the whole process was incredibly smooth. Saved us nearly $3,000 in interest.
James W.
October 2023
Mortgage Rate FAQs
Common questions about mortgage rates answered by our experts
Ready to Get Your Personalized Rate Quote?
Our service is completely free with no obligation. We'll shop the market to find you the best rate and help you save thousands on your mortgage.