Big Bank Mortgage Rates: What They Advertise vs. What You Actually Get
At WOWA Data Labs, we track 100+ daily mortgage rates submitted by real borrowers. And the truth? Advertised rates aren’t the real story.
📊 Our Findings (Aug 11 – Sep 17, 2025):From 171 mortgage shoppers at RBC, TD, BMO, and CIBC (more than half finalized), the average 3-year fixed rate offered was significantly lower than what the banks advertised.
💡 Example:At TD, the gap was 48 bps—saving borrowers about $2,400/year on a $500K mortgage compared to the posted website rate.
📉 The lesson: Big banks’ advertised rates are just a starting point. If you have solid credit and income, never accept the first number—negotiate & shop around!
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- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.