Variable Mortgage Rates

Updated May 25th, 2020

Best Variable Mortgage Rates

3-Year Variable5-Year Variable
CIBC2.45%
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Pololoans2.03%
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TermRate
3-Year Variable
2.45%
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5-Year Variable
2.03%
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Best 5-Year Variable Rate
2.03%
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Type:
5-Year
Term:
Home Price:
Downpayment:
%
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Best 5-Year Variable Rate
2.03%
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LenderRateWeekly ChangeMonthly Payment
Pololoans
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2.03%
5-YEAR VARIABLE
-0.01%
$2,020
MtgAlliance
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2.20%
5-YEAR VARIABLE
No change
$2,020
+$40
HSBC
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2.25%
5-YEAR VARIABLE
No change
$2,020
+$51
TD
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2.35%
5-YEAR VARIABLE
No change
$2,020
+$75
RBC
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2.45%
5-YEAR VARIABLE
No change
$2,020
+$99
CIBC
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2.45%
5-YEAR VARIABLE
No change
$2,020
+$99
BMO
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2.45%
5-YEAR VARIABLE
No change
$2,020
+$99
Desjardins
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2.45%
5-YEAR VARIABLE
No change
$2,020
+$99
Tangerine
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2.45%
5-YEAR VARIABLE
No change
$2,020
+$99
CMLS
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2.95%
5-YEAR VARIABLE
No change
$2,020
+$220

Notes

  • Weekly rate changes based on data from May 18th 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.

What is a Variable Rate Mortgage?

Variable Rate Mortgages are mortgages with fixed monthly payments where the interest rate is based on a lender's Prime rate. Variable rates tend to be lower than similar fixed rates, but have the risk of increasing over the mortgage term. Your payments will not change, but the proportion of your payment that goes to pay down your principle will fluctuate with your interest rate. Variable rate mortgages are best if you believe that interest rates will go down in the future.

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.