Scotiabank Mortgage Rates

Updated October 25th, 2020

Scotiabank Background

Scotiabank (TSE: BNK) is the third largest bank in Canada in terms of assets and market capitalization, and is recognized as one of Canada’s Big 5 banks. Incorporated in 1832, the bank has established itself as Canada's most international bank through extensive operations throughout Latin America, the Caribbean, Central America and parts of Asia. Since then, Scotiabank has expanded its operations to 40+ countries around the world. 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. Scotiabank’s 88,000 employees across 120 countries serve 23 million customers globally.

WOWA Commission-Sharing Advantage

Get a lower rate while working with Scotiabank.

Advertised Rate

4.79%

5-Year Fixed

Advantage Rate

4.74%

5-Year Fixed

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How We Get You A Better Rate

When we help you get a mortgage with one of our lenders, we get a small commission. We then share part of that commission with you by buying down or lowering your mortgage rate. We strongly believe in transparency and we want to help all Canadians get the most out of their real estate.

Popular Scotiabank Mortgage Rates

Type	Advertised Rate	WOWA Advantage
1-Year Fixed	3.09%	Get 3.04%
2-Year Fixed	3.19%	Get 3.14%
4-Year Fixed	4.09%	Get 4.04%
5-Year Fixed	4.79%	Get 4.74%
5-Year Variable	5.75%	Get 5.70%

Scotiabank Fixed-Rate Mortgages

Scotiabank 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.

Type	Advertised Rate	WOWA Advantage
1-Year Fixed	5.75%	Get 5.70%
2-Year Fixed	3.19%	Get 3.14%
3-Year Fixed	3.79%	Get 3.74%
4-Year Fixed	4.09%	Get 4.04%
5-Year Fixed	4.79%	Get 4.74%
7-Year Fixed	5.39%	Get 5.34%
10-Year Fixed	5.89%	Get 5.84%

Scotiabank Posted Rates

Scotiabank 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 Length	Scotiabank Posted Rate
1-Year Fixed	3.09%
2-Year Fixed	3.19%
3-Year Fixed	3.79%
4-Year Fixed	4.09%
5-Year Fixed	4.79%
7-Year Fixed	5.39%
10-Year Fixed	5.89%

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While we try our best to get your 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.