Canadian mortgage rates by term

Updated June 25, 2026.

Best discounted rate across tracked lenders, by term. Each row links to the full ranking for that term, including national lenders and 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.

Term	Best discounted rate	Lender	Why it might be the right pick
5-Year Fixed	4.24%	Coast Capital Savings	The Canadian default. Locked rate, locked payment, five-year horizon.	See all →
3-Year Fixed	4.04%	Coast Capital Savings	Often cheaper than 5-year when the curve is inverted; better if you expect cuts.	See all →
Variable	3.79%	Coast Capital Savings	Floats with the lender's prime. Cheaper to break (3 months' interest) than fixed.	See all →
1-Year Fixed	4.74%	CIBC	Short fixed for transitional plans or aggressive views on near-term cuts.	See all →
2-Year Fixed	4.29%	CIBC	Rare but occasionally well-priced. Useful when 24 months matches your plans.	See all →
4-Year Fixed	4.14%	Coast Capital Savings	Less liquid bond market behind it; rarely the cheapest option.	See all →
7-Year Fixed	4.84%	Coast Capital Savings	Premium over 5-year for two more years of certainty. Worth it only if the spread is small.	See all →
10-Year Fixed	5.04%	Coast Capital Savings	Effectively a 5-year with worse pricing — federal law caps the post-year-5 penalty at 3MI.	See all →

Looking for province-specific rankings? See rates by province, where provincial credit unions are surfaced alongside national lenders.