5-Year fixed broker floor: 4.04% · 5-Year variable broker floor: 3.60% · Stress test qualifying rate: 6.04%. 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.
The 5-year fixed term is Canada's most popular mortgage term, representing the majority of all new commitments. It offers the best balance of rate certainty and lender pricing for most borrowers.
Typical borrower profile: 5-year fixed borrowers include most first-time buyers, those prioritizing payment predictability, and borrowers who want certainty through a typical market cycle.
Rate context: The 5-year fixed term is the benchmark. Current broker floor: 4.04%, bank average: 4.29%. These form the two-anchor reference model for evaluating any mortgage offer.
Tradeoff vs 5-year fixed: The 5-year term provides the most payment certainty over a standard renewal cycle. The primary risk is breaking early: an Interest Rate Differential (IRD) penalty can be significant on a 5-year fixed. Confirm you will not need to break the term before committing.
| Credit tier | Fixed broker floor | Fixed bank avg | Variable broker floor | Variable bank avg |
|---|---|---|---|---|
| Excellent (750+) | 4.04% | 4.29% | 3.60% | 4.00% |
| Good (680–749) | 4.29% | 4.54% | 3.85% | 4.25% |
| Fair (620–679) | 4.79% | 5.04% | 4.35% | 4.75% |
| Poor (below 620) | 5.54% | 5.79% | 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 5-Year fixed mortgage broker floor is approximately 4.04% and the bank average is approximately 4.29%, based on Bank of Canada benchmark data. These are reference rates — actual lender offers vary by credit profile and insured status.
The 5-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 5-Year fixed mortgage at 4.04% is 6.04% (contract rate + 2%, minimum 5.25%). This qualifying rate determines your maximum mortgage amount.
The 5-year term provides the most payment certainty over a standard renewal cycle. The primary risk is breaking early: an Interest Rate Differential (IRD) penalty can be significant on a 5-year fixed. Confirm you will not need to break the term before committing.