Broker floor: 3.60% · Bank average: 4.00% · Stress test: 5.60%. 3-Year Variable rates across all borrower profiles — excellent to poor credit, purchase to switch.
Paid report options after the free check: Rate Fairness Report CA$24 · Full Renewal Decision Report CA$49. No broker calls. No data sold.
Variable rate mortgages float with the Bank of Canada prime rate (currently 4.45%). The broker floor reflects prime minus 0.85%; the bank average reflects prime minus 0.45%. Variable rates are the same regardless of term length, since the rate floats with prime throughout the commitment period.
Rates are based on Bank of Canada benchmark data and do not constitute a lender quote. Verify current rates with your lender.
| Credit tier | Credit score range | Broker floor | Bank average | Stress test rate |
|---|---|---|---|---|
| Excellent | 750+ | 3.60% | 4.00% | 5.60% |
| Good | 680–749 | 3.85% | 4.25% | 5.85% |
| Fair | 620–679 | 4.35% | 4.75% | 6.35% |
| Poor | below 620 | 5.10% | 5.50% | 7.10% |
Select a credit tier to explore rates for all four intents (purchase, renewal, refinance, switch) and all ten provinces.
The 3-Year variable broker floor for excellent credit is 3.60% and the bank average is 4.00%, based on Bank of Canada data. Rates vary by credit tier — see the table above for all credit tiers.
The stress test qualifying rate for an excellent-credit 3-Year variable mortgage at 3.60% is 5.60% (contract rate plus 2%, minimum 5.25%). Poor credit borrowers at 5.10% face a stress test rate of 7.10%.
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.
To access the broker floor rate for 3-Year variable mortgages: (1) maintain excellent credit (750+), (2) use a mortgage broker who accesses monoline lenders, (3) compare at least 3 lender offers, and (4) benchmark any offer against current BoC data before signing.