Latest 3-year fixed in the thread
4.54%
Someone got this offer recently.
Current Mortgage Rates Canada
On October 28, 2026 the Bank of Canada raised the overnight rate to 2.50%. The board below is what borrowers say they were just offered, fixed and variable, taken from the public mortgage rate mega thread and refreshed every four hours.
Overnight 2.50%
Bank Rate 2.75%
RBC prime still posted 4.45%
Next decision December 9
Prime on RBC's rate sheet for October 28 had not yet been marked up. Variable offers below were written while prime was still 4.45%. If lenders pass the full 25 point hike through, those variable rates rise by 0.25.
Latest variable in the thread
3.55%
Someone got this offer recently.
Current mortgage rates Canada, from the newest posts
The latest 3-year fixed in the thread is 4.54%, a TD renewal offer. One day earlier someone wrote that they had just got 4.43% on a 3-year fixed. On a $500,000 mortgage amortized over 25 years, Canadian semi-annual compounding, the payment gap between those two rates is $30.55 a month.
3.99%
Lowest 3-year fixed in this set. Beem credit union, offer, 2026-10-07. Insured file.
3.49%
Lowest 5-year variable in this set. TD, British Columbia, 2026-10-07.
$66.61
Extra monthly payment on $500,000 if a 3.55% variable becomes 3.80% after a full 25 point prime pass-through.
Fixed offers on the current mortgage rates Canada board
Same thread, both products. Filter to fixed or variable. Every row links to the comment it was read from. Cash-back lines and insured files are not the same product as a plain uninsured renewal.
| Rate | Term | How it was described | Lender | Insurance | When | Source |
|---|---|---|---|---|---|---|
| 4.54% | 3-year fixed | renewal offer | TD | Not stated | 2026-10-09 | Greatname_01 |
| 4.75% | 5-year fixed | renewal offer | TD | Not stated | 2026-10-09 | Greatname_01 |
| 3.55% | 5-year variable | renewal offer | TD | Not stated | 2026-10-09 | Greatname_01 |
| 4.43% | 3-year fixed | just got | Not named | Not stated | 2026-10-08 | m4xi007 |
| 3.55% | variable, term not stated | just got | Not named | Not stated | 2026-10-08 | m4xi007 |
| 3.99% | 3-year fixed | offer | Beem credit union | Insured | 2026-10-07 | Standard-Estimate-76 |
| 4.04% | 5-year fixed | offer | Coast Capital | Insured | 2026-10-07 | Standard-Estimate-76 |
| 3.49% | 5-year variable | offer | TD | Insured | 2026-10-07 | Standard-Estimate-76 |
| 3.50% | 5-year variable | offer | Scotiabank | Insured | 2026-10-07 | Standard-Estimate-76 |
| 3.59% | 5-year variable | renewal offer | RBC | Not stated | 2026-10-07 | javil_10 |
| 4.39% | fixed, term not stated | renewal offer | RBC | Not stated | 2026-10-07 | javil_10 |
| 4.24% | 3-year fixed | pre-approval | Not named | Insured | 2026-10-07 | dummy122333 |
| 4.11% | 2-year fixed | renewal offer | Scotiabank | Not stated | 2026-10-07 | joshisashark |
| 4.27% | 3-year fixed | renewal offer | Scotiabank | Not stated | 2026-10-07 | joshisashark |
| 4.46% | 5-year fixed | renewal offer | Scotiabank | Not stated | 2026-10-07 | joshisashark |
| 3.62% | 5-year variable | renewal offer | Scotiabank | Not stated | 2026-10-07 | joshisashark |
| 4.44% | 3-year fixed | rate hold | Not named | Not stated | 2026-10-06 | Anal_Iverson |
| 4.40% | 5-year fixed | switch quote | BMO | Uninsured | 2026-10-06 | canadian-soul |
| 4.04% | 3-year fixed | locked | TD | Not stated | 2026-10-04 | Alternative-Salt-672 |
| 4.81% | 3-year fixed | renewal offer | TD | Uninsured | 2026-10-04 | Anal_Iverson |
| 3.80% | 5-year variable | renewal offer | TD | Uninsured | 2026-10-04 | Anal_Iverson |
| 3.99% | 3-year fixed | refinance offer | Not named | Uninsured | 2026-10-03 | Global-Influence-855 |
Variable offers on the current mortgage rates Canada board
The newest variable row is 3.55% for a 5-year variable, from the same TD renewal letter as the 4.54% 3-year fixed. A variable priced as prime minus a discount moves when prime moves. One Scotia renewal in the thread was written as 3.62%, prime minus 0.83, which matches prime at 4.45. If prime becomes 4.70, that arithmetic becomes 3.87% before any new discount.
What the October 28 hike does to a payment
The Bank's statement raised the overnight target by 25 basis points to 2.50%, the first increase since July 2023. Inflation has been around 3% since April and the Bank expects about 3.5% by year end. Excluding gasoline, September inflation was 2.2%. The Bank said another increase might be needed and that it would proceed carefully. The next date is December 9, 2026.
Fixed rates follow the bond market, so they do not step up by 25 points on announcement day by rule. Variable rates and HELOCs follow prime. The pass-through is a lender decision. The chart uses the arithmetic only.
Payments are monthly on $500,000, 25 years, compounded semi-annually not in advance. At 3.55% the payment is $2,509.57. At 3.80% it is $2,576.17, which is $66.61 more. The 4.43% payment is still $171.77 a month above that hiked variable.
What current mortgage rates Canada cost on $500,000
Type your own balance. The two rates start as the latest 3-year fixed in the thread and the 4.43% someone said they had just got. The difference is the monthly saving of the lower rate. It is not interest over the whole amortization, and it is not a quote.
Formula: monthly rate = (1 + annual rate / 2) to the power of 1/6, minus 1. That is the Canadian mortgage convention, semi-annual compounding, not a simple monthly rate.
Insured and uninsured on current mortgage rates Canada
| File | What showed up in the thread | Why the rate is not comparable |
|---|---|---|
| Insured, under 20% down | 3.99% 3-year at a credit union with $2,000 cash back. 4.24% 3-year on a Toronto purchase. | The insurer takes lender risk. Cash back can be paired with a higher rate. Read both. |
| Uninsured, 20% or more equity | 4.81% 3-year TD renewal in Toronto. 3.99% 3-year refinance on a 30-year amortization in the GTA. | A longer amortization lowers the payment and can change the rate. A refinance is not a straight renewal. |
| Renewal letter from the current bank | TD 4.54% / 4.75% / 3.55%. Scotia menu from 4.11% on 2 years to 4.46% on 5 years fixed, variable 3.62%. | The letter is a starting number. Several posts describe a lower figure after they pushed, or at another lender. |
Down payment bands and the insured price cap are on the insured or uninsured guide. The stress test, which prices the payment you must qualify for, is separate from the payment you make. See the stress test guide.
Request cheaper rates
The newest renewal letter on the board is not the lowest report on the board. If your own letter looks like the high row, a broker can shop the file. Tell them the balance, the province, and whether you want fixed or variable.
Questions about current mortgage rates Canada
What did the Bank of Canada do on October 28, 2026?
It raised the target for the overnight rate by 25 basis points, from 2.25% to 2.50%. The Bank Rate is 2.75% and the deposit rate is 2.45%. The next scheduled announcement is December 9, 2026.
Has prime already moved with that hike?
RBC's own prime sheet for October 28, 2026 still showed Royal Bank Prime at 4.45%, last changed on October 30, 2025. That sheet was the morning file. Lenders usually move prime by the same amount as the policy rate, often within a day or two. Until a lender posts the new prime, a variable contract does not change on this page by assumption.
Are the rates on this page what a bank will give me?
No. They are reports from people in the public r/MortgagesCanada mega thread. Credit, equity, income, insured status, and the lender all change the number. Use them as a range, then ask a broker to price your file.
How often do the offers refresh?
A job reads the thread every four hours and rebuilds the board. The sentence under each rate uses the comment's real time. If a post is twenty days old, the page says twenty days, not a few hours.
What happens if I request cheaper rates?
You send your name, contact details, province, a balance range, and consent. Those go to a licensed mortgage broker. It is a request for a quote. It is not an approval and not a promise of a lower rate.
Guides under the rate board
The October 28, 2026 policy rate hike
Overnight rate to 2.50%, what the Bank said, and what that does and does not do to a mortgage.
Fixed or variable after a rate hike
The gap in the thread, what one more hike does to it, and the part a rate card leaves out.
How a Canadian mortgage payment is calculated
Semi-annual compounding, a worked $500,000 payment, and the figure that is not your interest bill.