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Canadian Mortgage Rates

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Canadian Mortgage Rates

As of January 27, 2025, Canadian mortgage rates vary by term and lender. 

  • 2-year fixed: The average rate is 6.53%, but rates can be as low as 4.59%

  • 3-year fixed: The average rate is 5.47%, but rates can be as low as 4.34%

  • 4-year fixed: The average rate is 5.65%, but rates can be as low as 4.54%

  • 5-year fixed: The average rate is 5.02%, but rates can be as low as 4.14%

  • 7-year fixed: The average rate is 6.37%, but rates can be as low as 5.94%

  • 10-year fixed: The average rate is 7.14%, but rates can be as low as 6.14%

Lenders

  • Desjardins: Offers a 4-year fixed rate of 4.24% 

  • Radius Financial: Offers a 3-year variable rate of 4.55% and a 5-year variable rate of 4.60% 

  • RFA: Offers a 2-year fixed rate of 4.64% 

  • Royal Bank of Canada: Offers a 5-year closed rate of 6.390% 

  • TD Bank: Offers a 3-year fixed closed special rate of 5.09% 

  • True North Mortgage: Offers a 6-month fixed rate of 2.99% 

You can check out these websites for more information on Canadian mortgage rates: nesto.ca, NerdWallet, and RBC Royal Bank. 


Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.