The lowest mortgage rates in Canada this week

The lowest advertised uninsured fixed rates in Canada have mostly increased this week, from four to eight basis points.Joe Raedle / Getty Images

The lowest advertised unsecured fixed mortgage rates in Canada rose mainly this week, by four to eight basis points.

Popular two-year flat rates, which attract people who want to get stuck for a few years and refinance when the Bank of Canada cuts rates, jumped 22 basis points.

As for the lowest insured fixed rates, they remained essentially stable. The exception was one-year and two-year terms, in which Quest Mortgage launched new market-leading offerings of 4.99%.

Variable rates have not moved this week. They will remain stable until the central bank presumably raises interest rates again on December 7 and pushes some borrowers closer to their trigger rate.

Last, but not least, are the rates for home equity credit lines, where Tangerine has finally pulled its stellar offering of minus 0.1 percent prime rates, which it has characterized since 2019. advertised now comes from HSBC, right in first place (5.95 percent). It will cost you around $ 496 (interest only) per month, per $ 100,000 borrowed.

As of Wednesday, November 9, these are the lowest mortgage rates available nationwide in Canada, from providers who advertise rates online and lend in at least nine provinces.

The lowest mortgage rates available nationwide

1 year fixed 5.69% Financial CanWise 4.99% Mortgage research
2 years fixed 5.69% RBC 4.99% Mortgage research
3 years fixed 5.55% RBC 4.99% Mortgage research
4 years fixed 5.54% First National 4.99% Mortgage research
5 years fixed 5.37% Investor group 4.94% Financial CanWise
10 years fixed 5.94% HSBC 5.94% HSBC
Variable 5.45% Mortgage Marathon 4.75% Nesto
5 year hybrid 5.50% HSBC 5.56% Scotland eHOME
HELOC 5.95% HSBC N / A N / A

The insured rates apply to those who purchase with a down payment of less than 20% or to those who transfer an existing insured mortgage to a new lender. Uninsured rates apply to refinancing and purchases over $ 1 million and may include premiums on applicable lender rates. For suppliers whose rates vary by province, the highest rate is shown.

Robert McLister is an interest rate analyst, mortgage strategist and editor of You can follow him on Twitter at @RobMcLister.


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