This week’s lowest fixed and variable mortgage rates in Canada
Optimism over falling inflation is pulling down bond yields, leading to falling fixed mortgage rates in all terms except the one-year fixed.
Amid higher demand for one-year terms and expectations for a rising overnight rate, the lowest nationally advertised one-year fixed actually climbed this week, by 20 bps to 5.69 per cent.
For default insured fixed mortgages, the picture looks better: 4.99 per cent or less for one to five-year terms. As always, check the rate sites online for better regional offers.
The lowest-cost widely advertised HELOC still comes from HSBC at 5.95 per cent.
As of Thursday Nov. 24, these are the lowest nationally available mortgage rates in Canada, from providers that advertise rates online and lend in at least nine provinces.
Insured rates apply to those buying with less than a 20-per-cent down payment, or those switching a pre-existing insured mortgage to a new lender. Uninsured rates apply to refinances and purchases over $1-million and may include applicable lender rate premiums. For providers whose rates vary by province, their highest rate is shown.