Brokers have access to a variety of lenders, and they can help you get access to exclusive mortgage offers you won't find anywhere else.
Try our free, no-obligation service, and you could save thousands every year. Enter your postal code to find competitive mortgage rates for the province or territory you live in, and then pick the best rate. It's that simple.
We're impartial. At LowestRates. Find the lowest mortgage rates nationwide from over 30 banks and brokers. Rest assured, mortgage shoppers.
Your information is private and secure. We'll never share your personal details with a third party. Mortgage rates have fallen over the past year, and rates on our site continue to be more than 2 percentage points lower than posted bank rates. On average, LR. We compared the 5-year fixed-rate mortgages and the 5-year variable-rate mortgages that Canadians have been applying for on our site since Our findings? Variable rates are almost half a percentage point lower, which translates into big savings.
On average, our variable rates are almost half a percent lower than our fixed rates.
Hundreds of thousands of Canadians have shopped for their mortgage at LowestRates. Mortgage default insurance, commonly called CMHC insurance, protects lenders in case you default on your mortgage. And these high ratio mortgages are more common than not in Canada.
The year fixed-rate mortgage is the most common type of mortgage because it provides the security of a fixed payment and the flexibility to afford a larger mortgage loan. The advantages of refinancing to a year loan include being able to lock in a low refinance rate for such a long time, while freeing up your money to work for you in long-term investments.
Also, locking in your rates for 30 years acts as a hedge against inflation, ensuring that your mortgage payment stays the same, even as house prices and rents go up over time.
You should also consider how the end of the loan stacks up against your target retirement age. Advertiser disclosure. Cancel Apply. Refine results Loan purpose Purchase Refinance. ZIP code.
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Fixed rate mortgages deals from % over 2 years, % over 3 years and % over 5 years. Compare with MoneySuperMarket to get the lowest rates. Compare mortgages to find out how much you can borrow and what the repayments will actually cost you. Search for remortgages, buying to let and first time.
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Eligible for an FHA loan? Refine results. What is a year fixed-rate mortgage? When should you consider a year fixed-rate mortgage? Should you refinance to a new, year loan instead of keeping the same term?