The best 5-year fixed mortgage rates in Canada Mar 22nd

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

Latest News

Mortgage Digest: Bond yields whipsaw, but fixed rates still have room to fall + MORE Apr 12th

Canadian bond yields have swung sharply in recent weeks, adding uncertainty to the outlook for fixed mortgage rates..... More »

Rate hikes slow non-bank mortgage growth and fuel rise in arrears Apr 24th

Non-bank lenders saw a continued move toward uninsured mortgages in Q4, alongside a steady rise in delinquencies..... More »

The complete guide for first-time home buyers in Canada + MORE Mar 28th

Buying your first home is an exciting experience, but it can also be an overwhelming one—especially if you’re not sure where to start. That’s why we’ve outlined some simple steps that anyone shopping for a home should take, from figuring out what you can actually afford to getting pre-approv.... More »

Looking for a mortgage in B.C.? Don’t limit your options to the big banks Apr 6th

At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... 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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