CIBC Mortgage Rates

As of January 21st, 2021

CIBC Background

CIBC (TSE:CM) is one of the largest banks in Canada in terms of assets and market capitalization, and is recognized as one of Canada’s Big 5 banks. In 1961, the bank was formed through the largest merger of two chartered banks - The Canadian Bank of Commerce (established 1867) and the Imperial Bank of Canada (established 1875). CIBC has operations in 30+ countries around the world, including Canada, the U.S. and England. They provide a diversified portfolio of financial services to customers with retail banking, commercial banking, wealth management, capital markets and insurance products being sold globally. CIBC and their 45,000 employees serve 10 million customers around the world.

Stock Information:
Listed on the Toronto Stock Exchange: TSE: CIBC
Listed on the New York Stock Exchange: NYSE: CIBC

CIBC Fixed-Rate Mortgages

CIBC Fixed Rate Mortgages reduce the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers.If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.

Mortgage Amount:
Payment Frequency:
TermRateMonthly Payment
CIBC1-Year Fixed
CIBC2-Year Fixed
CIBC3-Year Fixed
CIBC4-Year Fixed
CIBC5-Year Fixed
CIBC7-Year Fixed
CIBC10-Year Fixed

The rates shown are for insured mortgages with a downpayment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage.

Latest Mortgage Rates

Comparing 25 major lenders, the best mortgage rates in Canada are:
5-Year Fixed: 1.33%get this rate
5-Year Variable: 1.25% get this rate
Updated January 20th, 2021

CIBC Variable-Rate Mortgages

CIBC Variable Rate Mortgages provide you with fixed payments over the term; however, the interest rate will fluctuate with any changes in the prime interest rate. If their prime rate goes down, more of your payment will go towards paying off your principal; if our prime rate goes up, more of your payment will go towards interest costs. As a result, this can be a great financial tool for those expecting rates to fall in the upcoming year. A convertible mortgage allows you to convert to another term at any time. This feature provides security and flexibility, as it enables you to convert to a longer closed term should your variable rate mortgage no longer meet your needs.

Mortgage Amount:
Payment Frequency:
TermRateMonthly Payment
CIBC3-Year Variable
CIBC5-Year Variable

The rates shown are for insured mortgages with a downpayment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage.

CIBC Posted Rates

CIBC Posted Rates are the official rates used when calculating your mortgage break penalty, the fee you pay if you want to break or refinance your mortgage early. Your mortgage payment, interest, and stress test will be based on a different rate which is usually lower than the posted rate.

Term LengthCIBC Posted Rate
1-Year Fixed
2-Year Fixed
3-Year Fixed
4-Year Fixed
5-Year Fixed
7-Year Fixed
10-Year Fixed

CIBC Mortgage Break Penalty

Variable Rate MortgageFixed Rate Mortgage
3 Months’ Interest (at the CIBC Prime rate)Greater of 3 Months’ Interest (at your current mortgage rate) or the IRD amount
Interest Rate Differential (IRD) for CIBC
Difference in interest payable between the interest amount that you owe between the time of payment to maturity, calculated using your current mortgage rate plus any rate discount that you received, and the interest amount that you owe between the time of payment to maturity, calculated using CIBC’s current posted rate for a comparable mortgage.

CIBC Mortgage Prepayment Calculator

Are you looking to pay off your mortgage early? Or refinance the terms of your mortgage at a lower interest rate? Maybe you sold your home and purchasing a new home, in which a mortgage transfer will apply. Whatever the case, you most likely will have to pay a mortgage break penalty set by your lender. Whatever the situation, our calculator will help you determine the cost to break your mortgage so you can be confident about your mortgage decisions.

What is the remaining balance on your mortgage?


What is the term-length and type of your current mortgage?

What is your current mortgage interest rate?


If applicable, what was the rate discount you received when you signed your current mortgage agreement?

The day you signed your mortgage, your lender may have provided you with a discount. You may be paying 3.25% but the posted rate on that day was 3.75%, a discount of 0.5%. If you are unaware of any discount, you can skip this step.

When did your current mortgage start?

Who is your current mortgage lender?

What is TD Bank's current interest rate for a 5-year fixed rate mortgage?

We have populated this field for you with our most up to date data. For information on why we need this field see Interest Rate Differential
Your estimated mortgage break penalty is...

How is my mortgage penalty calculated?

Remaining Mortgage Balance
Current Mortgage Interest Rate
3-Months Interest
Prepayment Total

While we try our best to get you the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.