The current national broker floor for a 5-year fixed mortgage in Quebec is 4.04%. The bank average is 4.04%. The GoC 5-year bond yield — the primary benchmark for fixed mortgage pricing — sits at 3.12%. If your lender's quote is materially above the bank average, it is worth negotiating or comparing before you sign.
Already received a renewal offer from your lender?
Check the rate against current Canadian mortgage benchmarks before you sign. FairRate is paid by you, not by lenders, and does not sell your information to brokers.
Most borrowers compare only after they have already signed. Free check first; paid report options after the check: Basic Snapshot CA$24 · Recommended Before Signing Report CA$49. No broker calls. No data sold.
Formatted for fast comparison and AI extraction.
Primary benchmark for Canadian 5-year fixed mortgage pricing.
Competitive broker-channel benchmark for 5-year fixed mortgages in Quebec.
Estimated average offered rate across major Canadian banks.
Broker floor + 2.0 pp. Required qualifying rate under OSFI B-20.
These four figures give you a complete picture of the current rate environment. The GoC bond yield tells you where fixed rates are anchored; the broker floor is the most competitive rate currently available through the broker channel; the bank average is a reasonable expectation for a well-qualified borrower who negotiates with their incumbent bank; and the stress test qualifying rate is the income hurdle you must clear regardless of your actual contract rate.
If your lender has sent you a renewal offer, compare its rate against the broker floor and bank average above. A quote above the bank average warrants a counter-offer or a call to a mortgage broker for a comparison. A quote close to the broker floor is competitive — but still review prepayment privileges, portability, and penalty wording before signing.
Quebec mortgage shoppers should compare rate, penalty wording, and notary/transfer-cost assumptions before signing.
Quebec's mortgage market has a structure unlike any other province. Desjardins (the Caisse Desjardins network) holds approximately 40% of the Quebec mortgage market — a concentration unmatched by any institution in any other Canadian province. National Bank has deep Quebec roots and a strong retail presence. The Big Five banks compete but hold smaller Quebec market shares relative to their national footprints. The broker channel exists but is proportionally smaller in Quebec than in Ontario or BC.
Quebec has a unique provincial consumer protection requirement: mortgage lenders must send renewal notices at least 6 months before the maturity date, compared to the federal minimum of 21 days. This built-in notice period gives Quebec borrowers significantly more time to shop for alternative offers and negotiate their renewal. Quebec borrowers receiving a renewal notice should treat that six-month window as active comparison time — not a passive waiting period.
Montreal and surrounding suburbs mix insured and conventional borrowers. More affordable areas — Laval, the South Shore, and the North Shore — see higher insured origination proportions among first-time buyers. The CMHC premium for 5% down is 4.00% of the insured mortgage amount. Quebec's civil-law notarial process is distinct: both the deed of sale and the hypothec (mortgage deed) are prepared and registered by a notary, not a lawyer, which affects both closing timelines and cost estimates.
Quebec borrowers qualify under the same national OSFI B-20 stress test threshold as all other Canadians. The stress test does not apply when renewing with the same lender. For borrowers switching from Desjardins to a bank or vice versa, the full stress test requalification is required. Quebec's relatively lower average purchase prices compared to ON and BC mean the income floor for stress test qualification is more accessible for median-income Quebec households.
The current stress test qualifying rate is 6.04%, based on the broker floor of 4.04% plus 2 percentage points. This rate applies to all new purchase mortgages, refinances, and lender switches at renewal. Borrowers renewing with the same lender and not changing the mortgage amount or amortization are exempt from the stress test.
Minimum down, entry-level credit tier.
Good credit, minimum insured down payment.
Very good credit, mid-range insured down payment.
Excellent credit, mid-range insured down payment.
Very good credit, conventional (no CMHC).
Excellent credit, conventional mortgage.
Current renewal benchmarks, provincial rules, and negotiation guidance for Quebec borrowers.
How the B-20 stress test applies at current rates.
Bond yield, floor, average, and stress test for all provinces.
Enter your quote and compare against live benchmarks.
The current national broker floor for a 5-year fixed mortgage in Quebec is approximately 4.04%. The bank average is around 4.04%, and the GoC 5-year bond yield — the primary pricing benchmark — is approximately 3.12%. These are national rates; Quebec lenders price from the same benchmark. Your actual offer will depend on your credit score, down payment, property type, and lender.
A fair renewal rate in Quebec is one close to the national broker floor, currently around 4.04% for a 5-year fixed term. If your lender's renewal offer is at or above 4.04%, it is worth negotiating or shopping alternatives before signing. The initial renewal offer from a major bank is typically not the lender's best available rate — comparing it against a live benchmark gives you a negotiating anchor.
The mortgage stress test rate in Quebec is set under OSFI's B-20 guidelines: you must qualify at the higher of your contract rate plus 2 percentage points, or 5.25%. At the current broker floor of 4.04%, the stress test qualifying rate is approximately 6.04%. The stress test applies to all new mortgage applications and lender switches at renewal — it does not apply when you renew with the same lender without changing the mortgage amount or amortization.
The Government of Canada 5-year bond yield is the primary pricing anchor for 5-year fixed mortgage rates across Canada. When the bond yield rises, fixed mortgage rates follow — typically within days to weeks. The current yield is approximately 3.12%, and the broker floor of 4.04% represents a spread of about 92 basis points above it. Lenders add this spread to cover funding costs, credit risk, and margin. Monitoring the bond yield gives advance warning of rate movements before lenders formally adjust their sheets.