Today's rates
Our current rates for the three most popular terms. Every file is different, so your rate depends on your down payment, the property and your situation.
3 year fixed
4.29%
Same rate for 3 years
Insured5 year fixed
4.39%
Same rate for 5 years
Insured5 year variable
3.45%
Prime minus 1.00%, moves with prime
InsuredWhat does "insured" mean?
These rates are for insured mortgages: less than 20% down, with mortgage default insurance (CMHC, Sagen or Canada Guaranty) added to your mortgage. Because the lender's risk is covered, insured rates are usually the lowest. With 20% or more down, a refinance, a rental or a 30 year amortization, your rate will be different, often a little higher.
Insured vs insurable vs uninsured, explained →Rates as of September 26, 2026. Insured mortgages, on approved credit. Rates can change daily without notice and are not a commitment to lend.
Looking for another term, a conventional or uninsured rate, a rental, a HELOC or a renewal?
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Updated October 6, 2026
Rate questions for October 2026
Why did fixed mortgage rates go up at the end of September 2026?
Fixed rates follow Government of Canada bond yields, and the 5 year yield reached about 3.73% on September 28. On September 29, CIBC and TD raised select fixed rates by 0.20%, mostly on 3 and 5 year terms, after the other big banks made similar moves. On a $500,000 mortgage over 25 years, going from 4.29% to 4.49% adds about $55 a month.
Is the Bank of Canada changing rates on October 28?
Nobody knows yet. The Bank of Canada held its policy rate at 2.25% on September 2, 2026, its seventh hold in a row. Its next decision is Wednesday, October 28, 2026, and some forecasters expect a hike.
What would an October 28 hike mean for my variable payment?
Lenders usually move prime by the same amount within a day. With an adjustable rate mortgage your payment rises right away: each 0.25% adds about $65 a month on a $500,000 mortgage over 25 years. With a variable rate and fixed payments, your payment stays the same but more of it goes to interest.
Should I choose fixed or variable right now?
It depends on how long you plan to keep the mortgage, how much payment change you can handle and whether you might sell or refinance early. A variable rate usually has a smaller penalty to break. A fixed rate gives you a payment that will not change. We run both side by side for your numbers.
Compare the two for your situation: fixed vs variable at renewal and fixed vs variable for first time buyers.
Sources: RBC, Bank of Canada rate update, September 2, 2026; Yahoo Finance Canada, October 5, 2026. Payment examples are estimates for illustration only.
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