Today's Best Mortgage Rates

***** Mortgage Rates Last Changed - March 25th 2026 *****

Today's Prime Lending Rate	4.45%	Next Bank of Canada Meeting - Wednesday, April 29, 2026
Variable Rates: *
Home Equity Line of Credit	P + .50% (4.95% today)	No Change
3 Year Closed - 25 year amortization Purchase Only	P - .80% (3.65% today)	No Change
5 Year Closed - 25 year amortization Purchases Only	P - .85% (3.60% today)	No Change
5 Year Closed - 30 year amortization Refinances	P - .40% (4.05% today)	No Change
Residential Owner Occupied Fixed Mortgage Rates: **
1 Year Closed	4.39%	No Change
2 Year Closed	4.39%	No Change
3 Year Closed	4.24%	No Change
4 Year Closed	4.34%	No Change
5 Year Closed - Refinances and conventional purchases	4.39 %	No Change
5 Year Closed - CMHC/Sagen insured purchases and renewals/transfers	4.19%	.10% Increase
7 Year Closed - CMHC/Sagen insured purchases and renewals/transfers	5.09%	.05% Increase
10 Year Closed - CMHC/Sagen insured purchases and renewals/transfers	5.44%	.15% Increase



Federal Government / Bank of Canada Qualifying Rate or contract rate plus 2% (the higher)

*Interest rate is compounded monthly, not in advance. Variable rate mortgages offers you a low variable interest rate based on the prime rate over a 5-year fixed term. The prime lending rate represents a variable rate of interest announced by the lender from time to time as its Prime Lending Rate. Rates subject to change without notice.
**The annual percentage rate (APR), compounded semi-annually, not in advance. The APR is for a mortgage of $100,000 with monthly payments and a 25 year amortization. APR assumes no fees apply. You may be required to pay additional fees, such as legals costs and/or appraisal costs, which would increase your APR. Rates subject to change without notice.

Bank of Canada Update – March 18, 2026

On March 18, 2026, the Bank of Canada did exactly what most expected—they held interest rates steady. The overnight rate remains at 2.25%.

In other words, nothing moved.

At first glance, that sounds like stability. In reality, it’s more of a pause while the Bank figures out what to do next. Inflation is hovering near target, but not convincingly. Core inflation is still a bit sticky, economic growth feels soft, and productivity hasn’t exactly been inspiring. At the same time, government spending continues to run hot, which makes the Bank’s job that much harder.

So for now, they wait.

For borrowers, this means variable rates stay where they are. Fixed rates are still being driven more by the bond market than anything the Bank says, so while this pause helps calm things down, it doesn’t guarantee cheaper rates.

My take? We’re in a holding pattern. Rate cuts may come later this year, but they are far from guaranteed. There are still too many moving parts, and not all of them are pointing in the same direction.

The bigger question right now isn’t where rates are going next month—it’s whether your mortgage still makes sense if things stay like this for a while.

If you’d like to take a fresh look at your options or make sure you’re set up properly, I’m always happy to help.

Planning ahead

With the Bank signaling patience (and perhaps fatigue), this is a good time to review whether your mortgage structure still makes sense. Further rate cuts are not guaranteed, especially if government policy keeps working at cross-purposes with inflation control.

As always, the right strategy depends on your goals, timeline, and tolerance for uncertainty — something Canadian households have had plenty of lately.

If you’d like to review your options or talk through what this means for your mortgage, I’m happy to help.