7-Year Fixed Mortgage Rates

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Mortgage Term:

Number of Years

Fixed or Variable

Mortgage Reason:
Home Price:
Down Payment:
%
Mortgage Amount:
Click to Open Additional Options
LenderRateMonthly Payment
Tangerine
Tangerine
2.64%
$2,165
Desjardins
Desjardins
2.79%
$2,201
First Ontario
First Ontario
2.84%
$2,213
Scotiabank
Scotiabank
2.84%
$2,213
CIBC
CIBC
2.94%
$2,238
First National
First National
2.94%
$2,238
CMLS
CMLS
2.99%
$2,250
RBC
RBC
3.39%
$2,350
Manulife
Manulife
4.54%
$2,651
DUCA
DUCA
4.79%
$2,719
TD
TD
5.35%
$2,875
National
National
5.39%
$2,886
Simplii Financial
Simplii Financial
5.39%
$2,886
BMO
BMO
5.40%
$2,889
HSBC
HSBC
5.64%
$2,957
Alterna Savings
Alterna Savings
5.65%
$2,960
Laurentian
Laurentian
5.80%
$3,003
Canada Life
Canada Life
6.50%
$3,207
Investors Group
Investors Group
6.50%
$3,207

Notes

  • Rates above apply to high-ratio insured mortgages only. You can select other mortgage rates by changing your mortgage reason or down payment.
  • Terms and conditions may apply. Promotional rates may apply only to customers with an established credit and employment history. For alternative mortgages, see Private Mortgages in Canada.

Mortgages Rates Between Different Provinces

Mortgage rates in Canada can differ from province to province depending on the availability of lenders, local housing market and mortgage conditions, and provincial regulations. While the Big 5 Banks offer mortgages in every province, many smaller lenders including credit unions, B lenders, and private mortgage lenders often operate in a single province only. A lender offering the best rate in Ontario may not be available in Saskatchewan, for example. Similarly, a smaller number of lenders in a province could mean less competition, leading to higher rates in general.

ProvinceBest 7-Year Fixed Rate
Alberta
Alberta
British Columbia
British Columbia
Ontario
Ontario
Quebec
Quebec
Manitoba
Manitoba
Saskatchewan
Saskatchewan
Nova Scotia
Nova Scotia
New Brunswick
New Brunswick
Prince Edward Island
Prince Edward Island
Newfoundland & Labrador
Newfoundland & Labrador
The calculators and content on this page are provided for general information purposes only. WOWA does not guarantee the accuracy of information shown and is not responsible for any consequences of the use of the calculator.