Mortgage Rate Calculator

Calculate your mortgage payments according to your borrowing capacity!

*These figures and calculations are for illustrative purposes only and may not be used for contractual purposes. Certain conditions apply. Subject to change without notice.

Multi-Prêts rate

Mortgage rates as of today

Multi-Prêt rate

Get this rate

Mortgage rates as of today

Multi-Prêt rate

Get this rate

Mortgage rates as of today

Multi-Prêt rate

Get this rate

Mortgage rates as of today

Multi-Prêt rate

Get this rate

Mortgage rates as of today

Get your rate

* Some conditions may apply. Subject to change without notice. Rates may vary depending on amount borrowed, collateral offered or other factors. Contact your Mortgage Broker at Yves St-Denis Mortgage Brokers for more information.

Obtain the best mortgage

We free of charge compare the most competitive banks and lenders in Canada to provide you with the lowest mortgage rates available today. The best mortgage rates available in Canada are displayed at the top of this page. They are the lowest interest rates currently available and are updated in real time. Request a mortgage quotation to learn more about the rate you could qualify for in a few simple steps. The procedure is absolutely free of charge, and you are under no obligation to participate.

The factors that may influence your mortgage interest rate
The type of mortgage

If you’re refinancing rather than purchasing or renewing your mortgage, you’ll pay a higher rate. People who already have a mortgage, have strong credit, and have paid off more than 20% of their home’s equity may choose to explore a home equity line of credit (HELOC) instead of refinancing.

You will need to obtain mortgage default insurance if you are acquiring a property with a down payment of less than 20% of the purchase price and the value of the real estate purchased is less than $1 million (CMHC insurance). This insurance is separate from your mortgage and, while it is more expensive, it will help you to get a lower mortgage rate since your loan will be less hazardous for your lender. If you’re renewing your mortgage, you’ll only be able to receive the best rates if your initial mortgage was insured by CMHC.
Your intended use of the property:
Your amortization term is as follows

Insurable mortgages in Canada have a 25-year amortization term (i.e., mortgages for properties worth less than $1 million with a down payment of less than 20% of the purchase price). Regardless of the price of your home, if you put down at least 20%, you may be able to get a mortgage with a longer amortization time, such as 30 years. Longer amortization periods often result in cheaper monthly payments, but they may also come with a somewhat higher interest rate. In fact, if you wait longer to pay off your mortgage, you will end up paying more interest than if you paid it off sooner.

Choose the mortgage with the best interest rate for you.

Mortgage rate: variable or fixed?

The distinction between fixed and variable mortgage rates is whether the interest rate varies or remains constant during the loan’s term. Variable rates fluctuate with your lender’s prime rate, whereas fixed rates stay the same for the length of your loan (typically 5 years).

Rates for fixed mortgages:

Borrowers choose fixed mortgage rates because they are more predictable. In fact, in 2020, 5-year fixed mortgage rates will account for approximately 46% of all new mortgages. A fixed-rate mortgage protects you against interest rate swings, ensuring that your regular payments stay consistent throughout the term of your loan, regardless of market movements. If you have a low risk appetite, a fixed rate mortgage is the best option for you. You won’t have to worry about interest rates since you’ll know what your monthly payments will be right away.

Taux hypothécaires concept commercial de l’immobilier d’investissement taux d’intérêt immobilier

Mortgage rates that fluctuate:

Variable mortgage rates are usually less expensive than fixed mortgage rates. They may, however, change during the course of your loan. Market fluctuations (through the prime rate) impact the amount you pay on a variable mortgage, which affects the amount you pay. This implies that the amount of your payment may fluctuate over time. As fixed rates climb in 2022, the relatively cheaper variable rates have become more appealing, prompting more potential buyers to choose 5-year variable rate mortgages.

Variable rates are normally less expensive, but they are more volatile and might be regarded riskier than fixed rates. Variable mortgage rates, on the other hand, have a few significant advantages that you should be aware of:

As long as you continue with your original mortgage lender, you can change a variable rate to a fixed rate at any time without penalty.

Getting rid of a variable rate mortgage is far less expensive than getting rid of a fixed rate mortgage. Our mortgage penalty calculator will help you figure out how much it will cost to pay off your mortgage.

Over 90% of Canadian borrowers who had a variable rate mortgage throughout the term of their loan paid less interest than those who kept a fixed rate, according to a landmark research by York University professor Moshe Milevsky released in 2001.