5-Year Variable Mortgage Rates
Updated September 25th, 2020
Best 5-Year Variable Rate
1.58%
Mortgage Term:
Number of Years
Fixed or Variable
Home Price:
Downpayment:
%
Mortgage Amount:
| Lender | Rate | Weekly Change | Monthly Payment |
|---|---|---|---|
| Best 5-Year variable Rate | |||
Citadel Mortgages | 1.58% 5-YEAR VARIABLE  | No change | $1,918 |
 Dominion Lending | 1.65% 5-YEAR VARIABLE | No change | $1,918 +$16 |
 MtgAlliance | 1.75% 5-YEAR VARIABLE | -0.05% | $1,918 +$38 |
 Peoples Bank | 1.75% 5-YEAR VARIABLE | No change | $1,918 +$38 |
 Coast Capital | 1.78% 5-YEAR VARIABLE | No change | $1,918 +$45 |
 HSBC | 1.79% 5-YEAR VARIABLE | No change | $1,918 +$47 |
 Equitable | 1.80% 5-YEAR VARIABLE | No change | $1,918 +$50 |
 Simplii Financial | 1.80% 5-YEAR VARIABLE | 0.10% | $1,918 +$50 |
 TD | 1.97% 5-YEAR VARIABLE | -0.18% | $1,918 +$89 |
 motusbank | 1.99% 5-YEAR VARIABLE | No change | $1,918 +$93 |
 Tangerine | 2.05% 5-YEAR VARIABLE | No change | $1,918 +$107 |
 RBC | 2.10% 5-YEAR VARIABLE | No change | $1,918 +$119 |
 BMO | 2.15% 5-YEAR VARIABLE | -0.30% | $1,918 +$131 |
 CIBC | 2.45% 5-YEAR VARIABLE | No change | $1,918 +$201 |
 Desjardins | 2.45% 5-YEAR VARIABLE | No change | $1,918 +$201 |
 National | 2.45% 5-YEAR VARIABLE | No change | $1,918 +$201 |
 CMLS | 2.95% 5-YEAR VARIABLE | No change | $1,918 +$323 |
 Alterna Savings | 2.95% 5-YEAR VARIABLE | No change | $1,918 +$323 |
 DUCA | 3.25% 5-YEAR VARIABLE | 0.30% | $1,918 +$397 |
 Scotiabank | 5.75% 5-YEAR VARIABLE | 3.10% | $1,918 +$1,071 |
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.