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Mortgage Rate History

History of Average Variable vs 5 Year Mortgage Rates Since 2003

Since the beginning of 2003, we have aggregated an average of mortgage rates of products qualified for by our Canadian clients on both 5 year and variable rate mortgages. Here is a table spanning over ten years of mortgage rate history:

Year Variable Rate 5 Year Rate Best Rate? Best Over Worst
20143.00%5.02%Variable2.02 percentage points
20133.00%5.23%Variable2.23 percentage points
20123.00%5.27%Variable2.27 percentage points
20113.00%5.40%Variable2.40 percentage points
20102.60%5.57%Variable2.97 percentage points
20092.42%5.72%Variable3.30 percentage points
20084.79%7.10%Variable2.31 percentage points
20076.10%7.01%Variable0.91 percentage points
20065.76%6.64%Variable0.88 percentage points
20054.40%5.98%Variable1.58 percentage points
20044.02%6.34%Variable2.32 percentage points

Posted Mortgage Rates for 1, 3, and 5 Year Terms

Here are the average 1, 3, and 5 year term mortgage rates over the last ten years:

Year 1 Year Rate 3 Year Rate 5 Year Rate Best Rate? Best Over Worst
20143.14%3.77%5.02%1 Year Rate1.88 percentage points
20133.08%3.73%5.23%1 Year Rate2.15 percentage points
20123.18%3.91%5.27%1 Year Rate2.09 percentage points
20113.53%4.29%5.40%1 Year Rate1.87 percentage points
20103.49%4.28%5.57%1 Year Rate2.08 percentage points
20094.10%4.64%5.72%1 Year Rate1.62 percentage points
20086.72%6.91%7.10%1 Year Rate0.38 percentage points
20076.86%7.03%7.01%1 Year Rate0.17 percentage points
20066.26%6.42%6.64%1 Year Rate0.38 percentage points
20055.01%5.56%5.98%1 Year Rate0.97 percentage points
20044.75%5.79%6.34%1 Year Rate1.59 percentage points

Notable Canadian Interest Rate Observations for the Last 10 Years

Average Prime Rate in Canada: 3.86%
Highest Prime Rate observed: 6.25% on Wednesday, July 11th 2007.
Lowest Prime Rate observed: 2.25% on Wednesday, April 22nd 2009.

Average 1-Year Fixed Mortgage Rate in Canada: 4.61%
Highest 1-Year Rate observed: 7.35% on Wednesday, December 26th 2007.
Lowest 1-Year Rate observed: 3.00% on Wednesday, September 12th 2012.

Average 3-Year Fixed Mortgage Rate in Canada: 5.15%
Highest 3-Year Rate observed: 7.55% on Wednesday, December 26th 2007.
Lowest 3-Year Rate observed: 3.55% on Wednesday, March 13th 2013.

Average 5-Year Fixed Mortgage Rate in Canada: 5.96%
Highest 5-Year Rate observed: 7.54% on Wednesday, December 26th 2007.
Lowest 5-Year Rate observed: 4.79% on Wednesday, May 14th 2014.

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