Quebec Mortgage Rates
| Term | |||||||
|---|---|---|---|---|---|---|---|
Lenders | Insured Rates | Fixed Rate | Variable Rate |
|---|---|---|---|
What are the best mortgage rates in Québec?
As of April 28, 2026,
- The best 1-year fixed insured mortgage rate is 4.74%, which is offered by CIBC
- The best 2-year fixed insured mortgage rate is 4.29%, which is offered by Simplii Financial
- The best 3-year fixed insured mortgage rate is 4.29%, which is offered by Investors Group
- The best 4-year fixed insured mortgage rate is 4.39%, which is offered by Desjardins
- The best 5-year fixed insured mortgage rate is 4.04%, which is offered by nesto
- The best 5-year variable insured mortgage rate is 3.40%, which is offered by nesto
- The best 0.5-year fixed insured mortgage rate is 7.55%, which is offered by CIBC
Quebec at a Glance
Quebec is home to 9.0 million people as of 2026 and is the largest province in Canada by land area. The largest city in the province of Quebec, the Montreal Metropolitan Area accounts for just over half of Quebec’s population, with a population of 4.6 million. Montreal’s population show 5 and 10 year growth rates of 5.5% and 12%, compared with 7.5% and 12% for Quebec City and 6% and 13% for the Ottawa – Gatineau (CMA), Quebec part. Quebec City is the second-largest city in the province with a population of just over 0.9 million.
The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) is the regulatory authority of real estate brokerages in Quebec. Only those licensed by the OACIQ can use the term real estate broker or real estate agency in Quebec. There are 17,757 real estate license holders in Quebec, with 7,659 residential real estate brokers and 9,112 mixed residential and commercial real estate brokers. That’s up from 15,921 real estate license holders in 2021, when there were 5,519 residential real estate brokers in the province.
Mortgage Lenders in Quebec
Canada’s Big Banks (RBC, TD, Scotiabank, CIBC, BMO, and National Bank) all operate in Quebec. Being Canada’s oldest bank, the Bank of Montreal was established in Montreal in 1817 and eventually moved its headquarters to Toronto in 1977. However, the largest share of mortgages in Quebec is held by Desjardins (36% of residential secured lending as of Q1, 2026). Quebec is home to Caisse Desjardins, which is the country’s largest federation of credit unions, also known as caisse populaires.
Caisse populaires in Quebec are allowed to sell and promote insurance products, such as auto, home, and life insurance. In comparison, not all provinces in Canada allow credit unions to sell and promote certain insurance products. For example, Ontario only allows credit unions to sell credit, mortgage, and travel insurance, although this restriction may change in the future.
The Autorité des marchés financiers (AMF) is the primary financial regulator for Quebec-based institutions, most notably the province’s extensive network of credit unions and caisses populaires, such as Desjardins. In 2018, the AMF formally introduced mortgage stress test requirements to align with the federal standards (Guideline B-20) set by the Office of the Superintendent of Financial Institutions (OSFI). This ensures a level playing field across the housing market, requiring all borrowers to qualify at a higher 'stress’ rate regardless of whether they bank with a national lender or a local credit union. As of the December 2025 update to the AMF’s Residential Hypothecary Lending Guideline, these rules remain a cornerstone of Quebec’s financial stability, ensuring that the province’s unique cooperative banking sector follows the same rigorous risk-management practices as Canada’s largest banks.
Desjardins
Desjardins (Fédération des caisses Desjardins du Québec) remains Quebec’s largest financial cooperative and a dominant force in the province’s mortgage market. As of September 30, 2025, Desjardins had $512 billion in assets, reinforcing its position as Canada’s 7th largest financial institution. In March 2026, Desjardins further expanded its wealth and insurance footprint by finalizing the acquisition of Guardian Capital Group Limited, strengthening its role as a major asset manager.
Desjardins continues to dominate mortgage lending in the province. In 2026, it held 36% of Quebec’s residential secured (mortgage+HELOC) loan market, far ahead of other lenders.
Desjardins offers a wide range of customizable mortgage options, including:
- Hybrid mortgages mixing fixed and variable rates
- Rate‑reset mortgages with annual adjustments
- Protected variable‑rate mortgages with interest‑rate ceilings
- Cash‑back options covering up to $10,000 in closing costs
- Green Homes Program incentives for environmentally certified new builds
National Bank
National Bank (Banque Nationale) was founded in 1859 and opened their first office in Quebec City. Today, National Bank of Canada is headquartered in Montreal and is the sixth largest bank in Canada.
Along with fixed rate and variable rate mortgages, National Bank also offers hybrid mortgages that combine fixed and variable rates, along with capped variable rates. National Bank's self-employed mortgages allow self-employed workers or business owners to borrow up to $600,000 with a 10% minimum down payment.
Laurentian Bank
Laurentian Bank, founded in Quebec over 175 years ago, is currently undergoing major changes as it prepares to be acquired by Fairstone Bank in a $1.9‑billion deal expected to close in late 2026. The bank has been restructuring ahead of the acquisition, including selling its syndicated loan portfolio in early 2026.
Laurentian continues to offer its signature Homeowner's Kit, a flexible package that lets borrowers combine multiple mortgage terms and home equity credit components under a single financing structure—useful for homeowners leveraging equity for renovations or investment borrowing.
The bank also still offers convertible mortgage options, including 6‑month convertible fixed‑rate terms, allowing borrowers to switch into longer fixed terms if conditions change.
Bank of Montreal
While Bank of Montreal’s operational head office is in Toronto, BMO’s legal head office is still in Montreal. In addition to traditional mortgages, BMO offers convertible mortgages, readvanceable mortgages, and one of the longest mortgage rate holds in Canada when applying for a fixed rate mortgage.
Mortgage Brokers
Mortgage brokers in Quebec were regulated by the OACIQ until April 30, 2020, after which regulatory oversight officially transitioned to the Autorité des marchés financiers (AMF) on May 1, 2020 .
Under the current rules, real estate brokers may refer clients to mortgage lenders and receive compensation, provided that the payment is not contingent on the mortgage being approved or granted, unless the realtor also holds a valid AMF mortgage broker certificate.
Quebec's mortgage brokerage landscape includes both national and provincial players. National brokerages that operate in Quebec include nesto, Dominion Lending Centres, Mortgage Architects, and CanWise, all of which maintain licensed mortgage broker operations in the province. Quebec is also home to strong local brokerage networks such as Multi‑Prêts Hypothèques, North East Mortgages, Hypotheca, and apoint Hypothèque, each offering province‑wide service and partnerships with major lenders.
nesto
nesto is a Montreal‑based digital mortgage lender and brokerage that combines technology and in‑house lending expertise to deliver consistently competitive mortgage rates across Canada. Following its 2024 acquisition of CMLS Group, one of the country’s largest non‑bank mortgage lenders, nesto now operates as a fully integrated mortgage platform — originating, underwriting, and servicing both broker and direct‑to‑consumer mortgages.
Through EQ Bank’s partnership with nesto, EQ Bank account holders can access an online mortgage marketplace that offers instant prequalification, transparent rate comparisons, and fully digital applications — all without the need for rate negotiation. nesto focuses primarily on residential mortgage lending, including purchases, renewals, and refinances. It does not currently finance construction projects, land purchases, or mobile homes. Borrowers generally require a minimum credit score of around 680 and a stable financial profile to qualify. By leveraging automation, nesto consistently provides some of the lowest mortgage rates in Montreal and across Canada.
Multi-Prêts Mortgages
Multi-Prêts Mortgages is among one of the largest mortgage brokerages in Canada, and works with 20 mortgage lenders to get you the best Quebec mortgage rate all with no brokerage fee. Over 400 mortgage brokers work for Multi-Prêts Mortgages within Quebec. Outside of Quebec, Multi-Prêts operates as the Mortgage Alliance Group in all other provinces.
Part of M3 Mortgage Group, Canada's largest non-bank mortgage originator, Multi-Prêts Mortgages acquired Invis and Mortgage Intelligence in October 2016 to firmly cement itself as Quebec's fastest growing mortgage brokerage.
The Invis and Mortgage Intelligence purchase boosted Multi-Prêts from 2,000 full-service mortgage brokers across Canada and $13 billion in annual mortgage originations to over 3,000 mortgage brokers and $22 billion annually in mortgages in 2016. A recent case study by Dialekta, a Montreal-based marketing agency, worked with Multi-Prêt in 2018 with their over 6,000 franchised mortgage brokers and $44 billion annually in mortgages to enhance their marketing strategy.
Multi-Prêts Mortgages also works with alternative mortgage lenders such as Pentor, a Quebec-based lender that specializes in mortgages for borrowers that have defaulted on their mortgage, have a lien against their home, or need to consolidate their debt. Multi-Prêts has 60 office locations in Quebec, from Abitibi-Témiscamingue to the Eastern Townships (Estrie), with a large number of offices in Laurentides, Montreal, and Quebec City.
North East Mortgages
North East Mortgages claims to be the #1 mortgage brokerage in Laval , Montreal, and Quebec, with 27 mortgage brokers on their team located throughout the province. They offer residential mortgages, commercial mortgages, rental property mortgages, and reverse mortgages for Montreal and properties throughout Quebec.
apoint Hypothèque
apoint Hypothèque, formally known as Équipe Lupien, has 23 mortgage brokers that operate mainly in French with most not accepting English appointments. Four of Équipe Lupien’s mortgage brokers accept English appointments. Équipe Lupien offers fixed and variable mortgage rates, along with mortgage refinancing and loans for renovations, second homes, and rental buildings.
Dominion Lending Centres
Dominion Lending Centres (DLC) is Canada’s largest mortgage company with 7,856 mortgage brokers and 539 franchises across the country. In Quebec, Dominion Lending Centres has office locations in areas such as Montreal, Quebec City, Gatineau, Chicoutimi, Kirkland, La Prairie, and Sherbrooke.
In 2020, Dominion Lending Centres received $4.2 billion in mortgage submissions, representing 21% of Quebec's mortgage broker market when combined with DLC’s brand Mortgage Architects. On its own, DLC has 11% market share in Quebec, and Mortgage Architects has 9% market share. This makes Dominion Lending Centres the second largest regional mortgage broker firm in Quebec, and Mortgage Architects as the third largest, according to Dominion Lending Centres’ 2020 Annual Report.
DLC offers conventional mortgages, along with mortgages for Quebec first-time home buyers, newcomers to Canada, second properties, vacation homes, investment properties, commercial mortgages, and reverse mortgages.
How Much Will a Quebec Mortgage Cost?
Quebec’s and Montreal’s housing markets are cheaper than the national average, which makes mortgages more affordable. Low housing prices means that Montreal and Quebec City mortgages are smaller than average. Meanwhile, Quebec’s competitive mortgage marketplace allows for low mortgage rates in Quebec.
According to the CMHC, the average new mortgage amount in Quebec for mortgages originated in Q3 2025 was $254,500, lower than the newly originated Canadian average mortgage amount of $361,000, and less than half the average mortgage amount of $525,000 in Toronto and $537,000 in Vancouver.
Quebec Average New Mortgage Amount 2025
| Average New Mortgage (Q3 2025) | |
|---|---|
| Montreal | $331,558 |
| Quebec City | $221,555 |
| Sherbrooke | $230,886 |
| Trois-Rivières | $165,349 |
| Saguenay | $173,304 |
| Province of Quebec | $254,499 |
| Canada | $360,986 |
Source: CMHC
Smaller mortgage balances mean that Quebec homeowners can enjoy smaller mortgage payments. In some areas of the province, such as in Trois-Rivières and Saguenay, the average monthly mortgage payment can be a fraction of the amount seen in more expensive housing markets. For example, the average mortgage payment in Toronto is $2,584, while the average in Vancouver is $2,717.
Changes in Toronto mortgage rates will have a much larger impact on the affordability of a mortgage compared to changes in Montreal mortgage rates or Quebec mortgage rates.
Quebec Average Monthly Mortgage and HELOC Payment 2025
| Average Monthly Mortgage Payment (Q3 2025) | Average Monthly HELOC Payment (Q3 2025) | |
|---|---|---|
| Montreal | $1,574 | $1,045 |
| Quebec City | $1,142 | $895 |
| Sherbrooke | $1,137 | $899 |
| Trois-Rivières | $916 | $726 |
| Saguenay | $914 | $770 |
| Canada | $1,839 | $880 |
Source: CMHC
What is an average down payment in Quebec?
Royal Bank of Canada is the largest national mortgage lender and the third largest in Quebec, behind Desjardins Caisses and National Bank of Canada. Using the latest RBC data, down payments in Quebec are, on average, slightly larger as a proportion of property value compared to the rest of Canada. The average loan-to-value (LTV) ratio of new uninsured mortgages made by RBC from November 2025 to January 2026 for Quebec was 69%, compared to 71% in Ontario and 70% in the whole of Canada.
This would be equivalent to an average Quebec down payment being 31%, an average Ontario down payment being 29%, and an average Canadian down payment being 30%.
2026 Average Down Payment of Newly Originated or Acquired Mortgages by Province (RBC)
| Region | Average Loan-to-Value (LTV) Ratio | Average Down Payment |
|---|---|---|
| Quebec | 69% | 31% |
| Atlantic Canada | 70% | 30% |
| Saskatchewan and Manitoba | 72% | 28% |
| Alberta | 70% | 30% |
| Ontario | 71% | 29% |
| British Columbia and the Territories | 67% | 33% |
| Canada | 70% | 30% |
Source: RBC Q1 2026 Quarterly Report
Disclaimer:
- 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.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- 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.