3-Year Variable Mortgage Rates

Updated September 21st, 2020

Best 3-Year Variable Rate
2.35%
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Mortgage Term:

Number of Years

Fixed or Variable

Home Price:
Downpayment:
%
Mortgage Amount:
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LenderRateWeekly ChangeMonthly Payment
Best 3-Year variable Rate
Citadel Mortgages
Citadel Mortgages
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2.35%
3-YEAR VARIABLE
Gold Medal
No change
$2,095
Gold Medal
CIBC
CIBC
2.45%
3-YEAR VARIABLE
No change
$2,095
+$24
CMLS
CMLS
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2.95%
3-YEAR VARIABLE
No change
$2,095
+$145
Scotiabank
Scotiabank
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3.35%
3-YEAR VARIABLE
No change
$2,095
+$245
Alterna Savings
Alterna Savings
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3.55%
3-YEAR VARIABLE
No change
$2,095
+$295
DUCA
DUCA
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3.55%
3-YEAR VARIABLE
0.10%
$2,095
+$295
HSBC
HSBC
3.95%
3-YEAR VARIABLE
No change
$2,095
+$399
BMO
BMO
4.15%
3-YEAR VARIABLE
No change
$2,095
+$452

Notes

  • Weekly rate changes based on data from September 2nd 2020.
  • These rates are for Prime customers. To qualify, you generally need a good credit score and a steady job.
  • The following rates may not be valid for uninsured mortgages.

Canada's Top Mortgage: the 5-Year Fixed

In Canada, out of the $1.1 trillion CAD in outstanding residential mortgages in May 2020, the 5-year fixed rate mortgage takes the crown with over $570 billion, or almost 50%, of all mortgages in Canada. There are more 5-year fixed rate mortgages than all variable rate mortgages combined. The 5-year fixed rate mortgage is so popular that the CMHC uses the Bank of Canada's 5-Year Benchmark Posted Rate for its mortgage stress test.

Comparison of Fixed-Rate Mortgages in Canada

Data From Statistics Canada (May 2020)

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.