The best 5-year fixed mortgage rates in Canada May 24th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.

Latest News

Rising delinquencies test resilience of Canada’s mid-size lenders Oct 28th

Morningstar DBRS says mortgage delinquencies are climbing at Fairstone and Equitable while Laurentian remains resilient..... More »

Rising expenses driving Canadians to offload U.S. real estate + MORE Sep 19th

While politics play a role, brokers say rising costs, currency pressures and mortgage realities are the real forces driving Canadians to sell U.S. property — with many looking to reinvest at home..... More »

What New Year’s credit deals promise—and why you should be wary Jan 17th

January is for fresh starts, but too many Canadians are held back by last year’s overspending. Lenders know about new year’s debt-hangovers, so you may be seeing more credit offers in your inbox—but be wary. Used incorrectly, that deal on a balance transfer or sign-up bonus could get you into .... More »

Mortgage Expert alert: Why Canadian housing seems unaffordable in 2026: A 35-year real estate disconnect + MORE Jun 5th

The dream of home ownership in Canada appears distant in today’s mathematical reality. Housing costs account for nearly 30% of household income. Older generations survived 12–18% interest rates in the 1980s and early 1990s. At the time, home prices equaled two or three years of household income..... More »

Many mortgage holders have little room for higher payments: MPC + MORE Jun 26th

New consumer research finds recent buyers and newcomers are facing sharper affordability pressure, even as confidence in homeownership remains resilient..... More »

The best 5-year fixed mortgage rates in Canada

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

5-year fixed rates in more detail

Five-year fixed-rate mortgages are generally the most popular type of mortgage in Canada. However, in the last few years, many Canadians have reassessed their mortgage options as a result of major changes in the economy, the real estate market and their personal finances. For example: In 2020, when interest rates fell to historic lows, more Canadians than usual opted for a variable mortgage rate to save on interest costs—a trend that reversed itself once rates began to rise again in March 2022…

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