20% Down? You have options.

Avoid insurance premiums and access 30-year amortizations with a conventional mortgage.

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Market Pulse
Canada
May 18, 2026
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Live: Best Conventional Mortgage Rates

Live as of: May 18, 2026 | Canada
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Yrs
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Laurentian Bank of Canada
3.95%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $1,496
Interest (5yr) $52,817
Inquire
Rates guaranteed for up to 120 days. Benefit from flexible conversion options on select variabl... Show more
Vancity
3.95%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $1,496
Interest (5yr) $52,817
Inquire
Vancity offers competitive rates with values-driven banking to help you achieve your homeowners... Show more
RBC Royal Bank
Ratings
Google: 5
Trustpilot: 4
RateBuddy: 3
3.95%
Interest Rate
5 Years • Variable
5 Year Variable Closed
Payment & Cost
Est. Monthly Payment $1,496
Interest (5yr) $52,817
Inquire
Eligible mortgages may qualify for up to $5,900 in promotional value. Offer ends June 30, 2026.
Nesto
3.95%
Interest Rate
3 Years • Variable
3 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $1,496
Interest (5yr) $52,817
Interest (3 Years) $32,570
Inquire
Commission-free mortgage experts providing honest advice and competitive rates through a 100% d... Show more
Coast Capital Savings
3.99%
Interest Rate
3 Years • Fixed
3 Year Fixed Mortgage
Payment & Cost
Est. Monthly Payment $1,503
Interest (5yr) $53,370
Interest (3 Years) $32,907
Inquire
Get un$tuck with a member-exclusive rate and a cash bonus up to $4,100 with a mortgage and qual... Show more
Tangerine Bank
4.00%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $1,504
Interest (5yr) $53,508
Inquire
Eligible existing clients may receive a preferred mortgage rate discount. Log in or speak to a ... Show more
CIBC
Ratings
Google: 4.5
Trustpilot: 3.5
RateBuddy: 2
4.05%
Interest Rate
3 Years • Variable
3 Year Variable Flex Mortgage
Payment & Cost
Est. Monthly Payment $1,512
Interest (5yr) $54,200
Interest (3 Years) $33,411
Inquire
Take advantage of a cash back bonus directly from CIBC, available whether you are buying a home... Show more
Switch and save: Eligible switchers can get up to $5,500 cash back directly from CIBC.
Updating rates...
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See How a Shorter Amortization Saves You Thousands

The biggest factor in the total cost of your mortgage isn't the rate—it's the time. Use the tool below to see the staggering difference in total interest paid between a standard and a shorter amortization.

Your Scenario
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Adjust the numbers above to see your personal savings.

Total Interest (30 Years)
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Total Interest (25 Years)
$0
Total Interest Savings: $0

Mortgage Rates by Lender

Compare rates from Canada's top banks and credit unions.

RBC
RBC Royal Bank Big 5 Bank
TD
TD Canada Trust Big 5 Bank
BNS
Scotiabank Big 5 Bank
BMO
BMO Bank of Montreal Big 5 Bank
CIBC
CIBC Big 5 Bank
NBC
National Bank Major Bank
ING
Tangerine Digital Bank
ATB
ATB Financial Alberta Focus
DES
Desjardins Credit Union
MER
Meridian Credit Union
SER
Servus Credit Union
VAN
Vancity Credit Union
1ST
Connect First Credit Union
FW
First West Credit Union

Dive Deeper into Fixed Rates

Now that you've seen the top rates, see how they stack up in different scenarios. Our comparison tools make it easy to find the perfect fit for your financial plan.

Compare the Top 3 Fixed Rates Fixed vs. Variable Analysis
Illustration of a side-by-side comparison chart

Your Strategic Toolkit

Go beyond the rate. Use these essential tools to understand the full financial picture of your fixed-rate mortgage.

Closing Cost Calculator

Uncover the hidden costs of buying a home, including land transfer taxes and legal fees.
Rate Sensitivity Calculator

See how your payments could be affected by future rate changes when it's time to renew.
Bi-Weekly Payment Calculator

Discover how changing your payment frequency can help you pay off your mortgage years sooner.
Other Resources
Fixed vs. Variable Guide Mortgage Affordability Calculator View All Tools & Calculators

Best Rates by Province

Compare regional lending criteria and exclusive local offers.

View Interactive Map
AB
Alberta
BC
British Columbia
ON
Ontario
QC
Quebec
NS
Nova Scotia
SK
Saskatchewan
All Locations View Full Map

Your Fixed Rate Questions, Answered

Get clear, professional answers to the most important questions about fixed-rate mortgages in Canada.

A fixed-rate mortgage is a loan where the interest rate is locked in for the entire length of your term (e.g., 5 years). This means your principal and interest payments are predictable and will not change, protecting you completely from market rate hikes and making budgeting simple.
A fixed rate is the ideal choice for homebuyers who prioritize stability and predictability. It's perfect for first-time buyers, those on a set budget, or anyone who wants peace of mind knowing their largest monthly payment will never unexpectedly increase.
Breaking a fixed-rate mortgage typically incurs a significant prepayment penalty. This is usually the greater of either three months' interest or a complex calculation called the Interest Rate Differential (IRD). The IRD can be very costly, so it's a key factor to consider if you think you might sell or refinance before your term is up.
Most lenders in Canada will offer a rate hold for 90 to 120 days. This means they guarantee your approved fixed rate while you finalize your home purchase. If market rates go up during that time, you're protected. If they go down, many lenders will offer you the lower rate.
It's a strategic trade-off. A **shorter term (1-3 years)** offers flexibility and is great if you expect rates to fall. The **5-year term** is the Canadian standard, offering a great balance of stability and competitive rates. A **longer term (7-10 years)** provides maximum peace of mind but often comes with a slightly higher rate and a larger potential penalty.
A fixed rate offers certainty, while a variable rate offers potential savings. Variable rates are often initially lower than fixed rates but can change with the market. A fixed rate costs a little more for the insurance of knowing your payment will never change during the term.
When your term ends, you must renew your mortgage. Your current lender will send you a renewal offer, but you are not obligated to accept it. This is a crucial opportunity to shop around and switch to a new lender who can offer you a better rate, potentially saving you thousands.

Your Path to a Predictable Mortgage Starts Here.

Take the guesswork out of finding a great fixed rate. Our simple wizard helps you compare personalized offers from top lenders in minutes. No commitment, just clarity.

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