Variable Mortgage Rates

Updated August 10th, 2020

Best Variable Mortgage Rates

3-Year Variable5-Year Variable
CIBC2.45%
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Pololoans1.80%
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TermRate
3-Year Variable
2.45%
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5-Year Variable
1.80%
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Best 5-Year Variable Rate
1.80%
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Mortgage Term:

Number of Years

Fixed or Variable

Home Price:
Downpayment:
%
Mortgage Amount:
Click to Open Additional Options
LenderRateWeekly ChangeMonthly Payment
Best 5-Year variable Rate
Pololoans
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1.80%
5-YEAR VARIABLE
No change
$1,967
Equitable
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1.85%
5-YEAR VARIABLE
-0.14%
$1,967
+$11
MtgAlliance
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1.90%
5-YEAR VARIABLE
-0.08%
$1,967
+$23
Tangerine
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2.05%
5-YEAR VARIABLE
No change
$1,967
+$58
TD
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2.15%
5-YEAR VARIABLE
No change
$1,967
+$81
RBC
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2.15%
5-YEAR VARIABLE
No change
$1,967
+$81
BMO
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2.15%
5-YEAR VARIABLE
No change
$1,967
+$81
CIBC
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2.45%
5-YEAR VARIABLE
No change
$1,967
+$152
National
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2.45%
5-YEAR VARIABLE
No change
$1,967
+$152
Desjardins
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2.45%
5-YEAR VARIABLE
No change
$1,967
+$152
Scotiabank
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2.65%
5-YEAR VARIABLE
No change
$1,967
+$200
CMLS
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2.95%
5-YEAR VARIABLE
No change
$1,967
+$273
DUCA
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2.95%
5-YEAR VARIABLE
No change
$1,967
+$273

Notes

  • Weekly rate changes based on data from July 17th 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.