Canada Mortgage Rates

This website is dedicated to news, information, tools, and know-how pertaining to the mortgage interest rates in Canada. Canadian mortgage interest rates are determined mainly by two primary and dynamic factors. The first is the bond market which governs long term canadian mortgage rates for closed, fixed rate mortgages – these include 5 year fixed closed mortgages which are the most prevalent type of mortgage in canada, a very popular choice amongst Canadian mortgage holders. Bond rates also govern the 4 year mortgage rate for fixed, closed mortgages, and in some cases the 3 year fixed closed mortgage rate.

The second factor which governs Canadian mortgage rates is the Bank of Canada overnight inter-bank lending target rate. This is the interst rate which the Bank of Canada sets as it’s target rate for overnight lending amongst Canadian banks and financial institutions. This rate governs variable rate mortgages – which in Canada tend to come in two mortgage flavours a 5 year variable mortgage rate – also known as the 5 year adjustable rate mortgage, and a 3 year variable rate mortgage – also known as a 3 year adjustable rate mortgage. The Bank of Canada target rate is also used by banks for setting the mortgage interest rate for Canadian mortgages for the short term closed, fixed rate mortgages. These include the 1 year closed fixed rate mortgage, and the 2 year closed, fixed rate mortgage.

This website is designed to provide the Canadian public with a one stop shop for all information, resources, and links for researching and finding information on Canadian Mortgage Interest Rates.