Variable Mortgage Rates

Updated October 26th, 2020

Best Variable Mortgage Rates

1-Year Variable3-Year Variable5-Year Variable
Coast Capital6.60%
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Citadel Mortgages2.35%
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Citadel Mortgages1.50%
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TermRate
1-Year Variable
6.60%
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3-Year Variable
2.35%
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5-Year Variable
1.50%
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Best 5-Year Variable Rate
1.50%
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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 5-Year variable Rate
Citadel Mortgages
Citadel Mortgages
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1.50%
5-YEAR VARIABLE
Gold Medal
-0.08%
$1,900
Gold Medal
MtgAlliance
MtgAlliance
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1.70%
5-YEAR VARIABLE
No change
$1,900
+$45
Peoples Bank
Peoples Bank
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1.75%
5-YEAR VARIABLE
No change
$1,900
+$56
motusbank
motusbank
1.80%
5-YEAR VARIABLE
-0.19%
$1,900
+$68
Equitable
Equitable
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1.80%
5-YEAR VARIABLE
No change
$1,900
+$68
Simplii Financial
Simplii Financial
1.82%
5-YEAR VARIABLE
0.12%
$1,900
+$72
TD
TD
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1.97%
5-YEAR VARIABLE
No change
$1,900
+$107
Tangerine
Tangerine
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2.05%
5-YEAR VARIABLE
No change
$1,900
+$125
BMO
BMO
2.07%
5-YEAR VARIABLE
No change
$1,900
+$130
RBC
RBC
2.10%
5-YEAR VARIABLE
No change
$1,900
+$137
CIBC
CIBC
2.45%
5-YEAR VARIABLE
No change
$1,900
+$219
National
National
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2.45%
5-YEAR VARIABLE
No change
$1,900
+$219
Desjardins
Desjardins
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2.45%
5-YEAR VARIABLE
0.35%
$1,900
+$219
Coast Capital
Coast Capital
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2.45%
5-YEAR VARIABLE
0.75%
$1,900
+$219
HSBC
HSBC
2.65%
5-YEAR VARIABLE
No change
$1,900
+$267
CMLS
CMLS
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2.95%
5-YEAR VARIABLE
No change
$1,900
+$340
DUCA
DUCA
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3.25%
5-YEAR VARIABLE
0.30%
$1,900
+$415
Alterna Savings
Alterna Savings
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3.65%
5-YEAR VARIABLE
0.70%
$1,900
+$517
Scotiabank
Scotiabank
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5.75%
5-YEAR VARIABLE
3.10%
$1,900
+$1,089

Notes

  • Weekly rate changes based on data from October 19th 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.