Today's Best Mortgage Rates

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Today's Prime Lending Rate	4.45%	Next Bank of Canada Meeting - December 10th, 2025
Variable Rates: *
Home Equity Line of Credit	P + .25% (4.70% today)	No Change
3 Year Closed - 30 year amortization Purchases Only	P - .80% (3.65% today)	No Change
5 Year Closed - 30 year amortization Purchases Only	P - .75% (4.20% today)	No Change
5 Year Closed - 30 year amortization Refinances	P - .45% (4.45% today)	No Change
Residential Owner Occupied Fixed Mortgage Rates From: **
1 Year Closed	5.29%	No Change
2 Year Closed	4.54%	No Change
3 Year Closed	4.24%	No Change
4 Year Closed	4.44%	No Change
5 Year Closed - Refinances and conventional purchases	4.44%	.05% Decrease
5 Year Closed - CMHC/Sagan insured purchases and transfers	4.09%	.10% Increase
7 Year Closed -  CMHC insured for purchases and transfers	5.14%	No Change
10 Year Closed - CMHC insured for purchases and transfers	5.24%	No Change
Federal Government / Bank of Canada Qualifying Rate or contract rate plus 2% (the higher)

*Interest rate is compounded monthly, not in advance. Variable rate mortgages offers you a low variable interest rate based on the prime rate over a 5-year fixed term. The prime lending rate represents a variable rate of interest announced by the lender from time to time as its Prime Lending Rate. Rates subject to change without notice.
**The annual percentage rate (APR), compounded semi-annually, not in advance. The APR is for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees, such as legals costs and/or appraisal costs, which would increase your APR. Rates subject to change without notice.

Bank of Canada Update – October 29, 2025

The Bank of Canada cut its policy-interest rate by 0.25% at its October 29 meeting, bringing the overnight rate to 2.25%, the Bank Rate to 2.50%, and the deposit rate to 2.20%

This marks the second consecutive rate cut — following the September reduction to 2.50% — and places the policy rate at the lower end of its estimated “neutral” range.
In its accompanying Monetary Policy Report, the Bank noted that Canada’s economy continues to navigate structural headwinds stemming from U.S. trade-actions, weak business investment and export demand. At the same time, headline inflation has been steadily tracking near the 2% target, while underlying (core) inflation remains elevated at around 2.5%-3%.

Importantly, while the rate reduction signals support for a softening economy, the Bank also indicated that this may mark a pause in its easing cycle — unless incoming data on inflation or the labour market deteriorate further.

For mortgage borrowers:

• Variable-rate borrowers tied to prime (or lender’s prime) will likely see some modest relief as prime moves lower.
• Fixed-rate borrowers may benefit from improved fixed-rate competitiveness if bond yields ease in response to the Bank’s more cautious outlook.
• Stress-test criteria and qualification rates remain important — while the policy rate has moved lower, lenders’ pricing still reflects risk and funding costs, so borrowers should continue to focus on affordability, term and amortization.
• From a timing perspective, this move might be an opportune moment to review whether a variable or fixed approach best suits your situation — given the Bank’s guidance that further cuts are not guaranteed.