Canadian Licensing Info: Alberta Mortgage #MW-0511205,
BC Mortgage #X028169, FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.

The Mortgage Group®

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
20152.84%4.69%Variable1.85 percentage points
20143.00%4.91%Variable1.91 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
20054.71%6.03%Variable1.32 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
20152.95%3.44%4.69%1 Year Rate1.74 percentage points
20143.14%3.69%4.91%1 Year Rate1.77 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
20055.32%5.60%6.03%1 Year Rate0.71 percentage points

Notable Canadian Interest Rate Observations for the Last 10 Years

Average Prime Rate in Canada: 3.72%
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: 4.42%
Highest 1-Year Rate observed: 7.35% on Wednesday, December 26th 2007.
Lowest 1-Year Rate observed: 2.89% on Wednesday, March 4th 2015.

Average 3-Year Fixed Mortgage Rate in Canada: 4.91%
Highest 3-Year Rate observed: 7.55% on Wednesday, December 26th 2007.
Lowest 3-Year Rate observed: 3.39% on Wednesday, March 4th 2015.

Average 5-Year Fixed Mortgage Rate in Canada: 5.80%
Highest 5-Year Rate observed: 7.54% on Wednesday, December 26th 2007.
Lowest 5-Year Rate observed: 4.64% on Wednesday, April 8th 2015.

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A mortgage broker works for you, and not the bank. Unlike bank employees, brokers are not obligated to give you a mortgage product from any one lender or source, which means that you can count on a broker to find many great mortgage products with lots of options and low rates, all suited with your best interests in mind.
Mortgage Brokers Work For You
Mortgage Amortization Calculator
An amortization is the amount of time scheduled to completely pay off a loan, and the amortization length you choose is important in shaping how much you'll end up paying for your home. While the Government of Canada's national housing agency caps the amortization period for high-ratio mortgages at 25 years, and that is the most popular amortization length in Canada, amortizations can range anywhere from 5 to 30 years for uninsured mortgages. Try our easy to use mortgage calculator to see how changing the amortization length affects your loan payments.
Mortgage Amortization Calculator