Canadian Mortgage Rate Briefs

This hub tracks Canadian mortgage rates — fixed and variable — and the forces that move them: the Bank of Canada's policy rate, government bond yields and lender competition.

Mortgage rates are the single biggest lever on what a Canadian home costs to finance. RateHarp's rate hub pulls together every brief touching fixed and variable rates, the Bank of Canada and bond markets, so you can see the trend at a glance.

Your Questions, Answered

Frequently Asked Questions

QWhat's the difference between a fixed and a variable mortgage rate?

A fixed rate stays the same for your term, giving predictable payments. A variable rate moves with your lender's prime rate, so payments or the interest portion can change as the Bank of Canada adjusts policy.

QWhat moves Canadian mortgage rates?

Fixed rates generally track government bond yields, while variable rates follow the Bank of Canada's policy rate. Lender competition and risk appetite also play a role.

QShould I lock in a fixed rate or go variable?

It depends on your risk tolerance, budget and how long you plan to stay. Many borrowers weigh the certainty of fixed against the historical flexibility of variable — a licensed advisor can model both for your situation.