Best 5-Year Fixed
4.24%
Mortgage rates in British Columbia
Updated June 25, 2026.
BC has the most expensive housing market in Canada, the highest LTT rates above $2M, and the most generous first-time buyer LTT exemption — fully eliminated up to $500,000. Vancity and Coast Capital are the dominant provincial credit unions.
Rates shown are updated daily and are not an offer of credit. Actual rates require lender approval and may differ. Discounted rates are the bank's own published special-offer rates; a mortgage broker can often secure a lower rate than what's shown. See our methodology.
Best 3-Year Fixed
4.04%
Best Variable
3.79%
All lenders available in British Columbia
Includes national lenders plus provincial credit unions and lenders operating in British Columbia.
| Lender | 3-Year Fixed | 5-Year Fixed | Variable |
|---|---|---|---|
 Coast Capital Savings Local | 4.04% | 4.24% | 3.79% |
 Tangerine | 4.44% | 4.49% | 4.00% |
 TD Bank | 4.69% | 4.84% | 4.24% |
 BMO Bank of Montreal | 4.64% | 4.84% | 4.10% |
 CIBC | 4.64% | 4.84% | 3.95% |
 National Bank of Canada | 4.74% | 4.84% | 4.45% |
 RBC Royal Bank | 4.74% | 4.89% | 3.95% |
 Scotiabank | 6.05% | 4.90% | 5.95% |
Provincial credit unions and lenders
These lenders operate primarily in British Columbia and don't appear in the national-only "All Canada" view on the home page. Provincially regulated credit unions are not bound by the federal stress test (B-20) at the same threshold, which can be an opening if you're close to the federal qualifying ceiling.
Land transfer tax in British Columbia
BC's Property Transfer Tax: 1% on the first $200,000, 2% from $200,000 to $2,000,000, 3% from $2,000,000 to $3,000,000, and 5% on any portion above $3,000,000. On a $1,000,000 home that's $18,000.
First-time buyer rebate
First-time buyers are fully exempt from PTT on homes up to $500,000 (proportional rebate up to $835,000). New-build buyers: full exemption up to $1,100,000. Owner-occupation requirement applies for at least one year.
First-time home buyer programs
Federal programs apply everywhere — the FHSA, RRSP Home Buyers' Plan, and federal Home Buyers' Tax Credit. The programs below are specific to British Columbia.
- First Time Home Buyers' Program (PTT exemption)
Up to $8,000 saved on a $500k home by full PTT exemption. Eligibility: Canadian citizen or permanent resident, BC resident for 12 of past 24 months, never owned a principal residence anywhere in the world.
- Newly Built Home Exemption
Full PTT exemption on new builds up to $1.1M (partial up to $1.15M), regardless of first-time-buyer status. Stackable benefit if you're buying a new build as a first-timer.
- BC Home Owner Grant
Annual property tax reduction (not a mortgage program, but reduces ongoing carrying cost): up to $570 in Metro Vancouver and the Capital Regional District, up to $770 elsewhere. Applies to principal residences below the threshold ($2.175M for 2026).
Local notes
- The 20% Speculation and Vacancy Tax applies to designated regions (Metro Vancouver, Victoria, Kelowna, others) for non-residents and out-of-province owners. Worth checking before buying as an investment.
- Vancity and Coast Capital Savings are the major BC credit unions — both not federally regulated, both offer competitive rates that often beat Big 6 in BC.
- National Bank has minimal branch presence in BC; if it shows up on your quote, it's almost certainly through a broker (NBC's broker channel is national even though retail is concentrated in Quebec).
- Foreign buyers face a 20% Additional PTT on top of the regular PTT in BC's designated taxable regions (Metro Vancouver, Capital, Fraser Valley, Central Okanagan, Nanaimo) — and a federal foreign buyer ban remains in effect through Jan 1, 2027.