Current Mortgage Rates in Canada (Updated Daily)

Current 5-year fixed mortgage rates at major Canadian banks range from about 6.09% to 6.49% posted, with discounted rates between roughly 4.2% and 4.7%. Variable rates have been steady since December 2025, around 3.4%, as the Bank of Canada holds the overnight rate at 2.25%. Fixed rates may rise short-term due to higher government bond yields. Variable rates are expected to remain stable in 2026 unless economic conditions prompt rate changes.