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Market Pulse
Canada
May 18, 2026
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Live: Best Insured 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 $2,129
Interest (5yr) $54,766
Interest (6 Months) $5,878
Inquire
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted... Show more
Butler Mortgage
3.30%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $2,327
Interest (5yr) $73,130
Inquire
Rate Guarantee: We guarantee your rate is in the best 1% of all rates in Canada. Find a lower r... Show more
Nesto
3.40%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $2,353
Interest (5yr) $75,413
Inquire
Commission-free mortgage experts providing honest advice and competitive rates through a 100% d... Show more
True North Mortgage Inc
3.49%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $2,375
Interest (5yr) $77,471
Inquire
We guarantee your best rate or we will give you $500! Save thousands with our volume-discounted... Show more
Nesto
3.57%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage (150 Day Lock)
Payment & Cost
Est. Monthly Payment $2,396
Interest (5yr) $79,302
Inquire
nesto provides you with the best available locking period in the mortgage industry (150 Days).
Meridian Credit Union
3.59%
Interest Rate
5 Years • Variable
5 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $2,401
Interest (5yr) $79,760
Inquire
Secure your rate for up to 120 days. Take advantage of generous 20/20 prepayment privileges and... Show more
Nesto
3.60%
Interest Rate
3 Years • Variable
3 Year Variable Mortgage
Payment & Cost
Est. Monthly Payment $2,404
Interest (5yr) $79,989
Interest (3 Years) $49,386
Inquire
Commission-free mortgage experts providing honest advice and competitive rates through a 100% d... Show more
EQ Bank
3.60%
Interest Rate
5 Years • Variable
5 Year Adjustable Mortgage - Evolution Suite
Payment & Cost
Est. Monthly Payment $2,404
Interest (5yr) $79,989
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Equitable Bank offers flexible mortgage solutions with competitive rates, designed to help you ... Show more
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)
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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

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

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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