Variable Rates

Closed Variable Rate Mortgages may fluctuate throughout the specified term, based on the Prime Rate. If you exceed the pre-payment allowed, you will have to pay a penalty.

Bank of Canada Rates

Prime Rate Qualifying Rate
2.70% 4.64%
Prime rate is the lending rate issued by the Bank of Canada that is used as a benchmark by lenders. Qualifying rate is the rate used in calculating affordability of a mortgage when a variable rate mortgage, or a 1-4 year fixed term mortgage, is taken.

Best Closed Variable Rates

Term Mortgage Rate Rate Hold Pre-payment Get Rate
5 year(s) 2.05%
Prime -0.65
120 days Lump Sum: 20%
Monthly: 20%;
Get Rate >
* All rates listed are subject to change with or without notice and subject to credit approval and guidelines.

History of Prime Rate

History of Prime Rate


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