4-Year fixed broker floor: 4.09% · 4-Year variable broker floor: 3.60% · Stress test qualifying rate: 6.09%. 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 4-year fixed term is less commonly offered but provides a middle ground between the 3-year and 5-year terms. It's worth considering when a 4-year rate is meaningfully lower than the 5-year alternative.
Typical borrower profile: 4-year fixed borrowers typically align their mortgage renewal with a specific upcoming life event — a planned major expense, a business milestone, or a known income change expected in year 4.
Rate context: 4-year fixed rates currently sit approximately +0.05% versus the 5-year fixed broker floor. 4-year rates tend to track closely with 5-year rates.
Tradeoff vs 5-year fixed: A 4-year term saves one year of commitment versus a 5-year term. The rate differential is typically small. The primary benefit is an earlier renewal window without the full 5-year penalty for breaking.
| Credit tier | Fixed broker floor | Fixed bank avg | Variable broker floor | Variable bank avg |
|---|---|---|---|---|
| Excellent (750+) | 4.09% | 4.34% | 3.60% | 4.00% |
| Good (680–749) | 4.34% | 4.59% | 3.85% | 4.25% |
| Fair (620–679) | 4.84% | 5.09% | 4.35% | 4.75% |
| Poor (below 620) | 5.59% | 5.84% | 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 4-Year fixed mortgage broker floor is approximately 4.09% and the bank average is approximately 4.34%, based on Bank of Canada benchmark data. These are reference rates — actual lender offers vary by credit profile and insured status.
The 4-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 4-Year fixed mortgage at 4.09% is 6.09% (contract rate + 2%, minimum 5.25%). This qualifying rate determines your maximum mortgage amount.
A 4-year term saves one year of commitment versus a 5-year term. The rate differential is typically small. The primary benefit is an earlier renewal window without the full 5-year penalty for breaking.