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Market Pulse
Canada
May 18, 2026
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Live: Canada’s Best Fixed Mortgage Rates

Live as of: May 18, 2026 | Canada
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Yrs
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True North Mortgage Inc
2.49%
Interest Rate
6 Months • Fixed
6 Month Fixed Mortgage
Payment & Cost
Est. Monthly Payment $1,277
Interest (5yr) $32,860
Interest (6 Months) $3,527
Inquire
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted... Show more
Neo Financial
3.84%
Interest Rate
6 Months • Fixed
6 Month Fixed Mortgage
Payment & Cost
Est. Monthly Payment $1,479
Interest (5yr) $51,299
Interest (6 Months) $5,445
Inquire
Seamless mortgage solutions, tailored to you. Get your best rate, fast turnaround, and expert s... Show more
Butler Mortgage
3.89%
Interest Rate
6 Months • Fixed
6 Month Fixed Mortgage
Payment & Cost
Est. Monthly Payment $1,487
Interest (5yr) $51,989
Interest (6 Months) $5,516
Inquire
Rate Guarantee: We guarantee your rate is in the best 1% of all rates in Canada. Find a lower r... Show more
Coast Capital Savings
3.89%
Interest Rate
5 Years • Fixed
5 Year Fixed Mortgage
Payment & Cost
Est. Monthly Payment $1,487
Interest (5yr) $51,989
Inquire
Get un$tuck with a member-exclusive rate and a cash bonus up to $4,100 with a mortgage and qual... Show more
Butler Mortgage
3.99%
Interest Rate
5 Years • Fixed
5 Year Fixed Mortgage
Payment & Cost
Est. Monthly Payment $1,503
Interest (5yr) $53,370
Inquire
Rate Guarantee: We guarantee your rate is in the best 1% of all rates in Canada. Find a lower r... 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
Butler Mortgage
4.04%
Interest Rate
3 Years • Fixed
3 Year Fixed Mortgage
Payment & Cost
Est. Monthly Payment $1,511
Interest (5yr) $54,061
Interest (3 Years) $33,327
Inquire
Rate Guarantee: We guarantee your rate is in the best 1% of all rates in Canada. Find a lower r... Show more
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Find Your Ideal Fixed Term

Choosing the right term length is as important as the rate itself. Instantly compare our most popular fixed-rate terms to find the perfect balance of stability and savings.

5-Year Fixed Rates 4-Year Fixed Rates 3-Year Fixed Rates
Explore All Fixed Terms

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)
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Total Interest Savings: $0

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

The Fixed-Rate Mortgage Guide

Everything you need to know to make a confident decision, all in one place.

The Power of Predictability
Pros & Cons
Choosing Your Term
Prepayment Penalties

A fixed-rate mortgage is your financial anchor in a fluctuating market. Your interest rate is locked in for the entire term you choose—typically 1 to 10 years. This guarantees your principal and interest payments will not change, offering unparalleled stability and making it simple to budget for your biggest expense.

It's the most popular choice for Canadians who value security and peace of mind.

Advantages:
  • Payment Stability: Your payments never change.
  • Budgeting Simplicity: You always know your biggest expense.
  • Rate-Hike Protection: You are completely shielded if market rates go up.
Considerations:
  • Higher Initial Rate: Typically starts slightly higher than a variable rate.
  • Potential Penalties: Breaking the term early can result in significant prepayment penalties.

The term you choose is a key part of your financial strategy. A shorter term (1-3 years) is great for flexibility if you think rates will drop or you might move. 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, perfect for those in their 'forever home'.

This is the most important thing to understand. If you break a fixed-rate mortgage early, the penalty is usually the greater of 3 months' interest or the Interest Rate Differential (IRD).

The IRD compares your rate to your lender's current rates and can be very expensive, sometimes costing tens of thousands of dollars. Always ask how this is calculated before you sign.

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

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

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.

Best Rates by Province

Compare regional lending criteria and exclusive local offers.

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Alberta
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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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