3-Year fixed broker floor: 4.19% · 3-Year variable broker floor: 3.60% · Stress test qualifying rate: 6.19%. Compare by credit tier and province.
Paid report options after the free check: Rate Fairness Report CA$24 · Full Renewal Decision Report CA$49. No broker calls. No data sold.
A 3-year fixed term balances certainty with flexibility. Historically, 3-year rates have sometimes been at or near 5-year rates, occasionally below. It's a popular choice when the 3-year rate is within 10–15bps of the 5-year rate.
Typical borrower profile: 3-year fixed borrowers often include those who want medium-term certainty without a 5-year commitment, or those who purchased at higher prices and expect more equity within 3 years.
Rate context: 3-year fixed rates currently sit approximately +0.15% versus the 5-year fixed broker floor. 3-year and 5-year rates are often close, depending on the yield curve.
Tradeoff vs 5-year fixed: A 3-year term completes before a 5-year term, providing an earlier window to access equity, switch lenders, or benefit from rate changes. The tradeoff is earlier exposure to renewal rates.
| Credit tier | Fixed broker floor | Fixed bank avg | Variable broker floor | Variable bank avg |
|---|---|---|---|---|
| Excellent (750+) | 4.19% | 4.44% | 3.60% | 4.00% |
| Good (680–749) | 4.44% | 4.69% | 3.85% | 4.25% |
| Fair (620–679) | 4.94% | 5.19% | 4.35% | 4.75% |
| Poor (below 620) | 5.69% | 5.94% | 5.10% | 5.50% |
Select fixed or variable to see detailed rate pages for every credit tier, intent, and province.
Mortgage rates are set nationally by lenders — the benchmark rate is the same across provinces for the same credit profile. However, provincial rules affect closing costs (land transfer tax), FTHB rebate eligibility, and the regulatory bodies that govern mortgage brokers. Select a province to see the full scenario-specific page.
The 3-Year fixed mortgage broker floor is approximately 4.19% and the bank average is approximately 4.44%, based on Bank of Canada benchmark data. These are reference rates — actual lender offers vary by credit profile and insured status.
The 3-Year variable mortgage broker floor is approximately 3.60% (prime minus 0.85%) and the bank average is approximately 4.00% (prime minus 0.45%), with prime at 4.45%.
The stress test qualifying rate for a 3-Year fixed mortgage at 4.19% is 6.19% (contract rate + 2%, minimum 5.25%). This qualifying rate determines your maximum mortgage amount.
A 3-year term completes before a 5-year term, providing an earlier window to access equity, switch lenders, or benefit from rate changes. The tradeoff is earlier exposure to renewal rates.