{"id":43996,"date":"2023-10-05T10:58:10","date_gmt":"2023-10-05T17:58:10","guid":{"rendered":"https:\/\/www.nerdwallet.com\/ca\/?page_id=43996"},"modified":"2025-06-09T07:29:06","modified_gmt":"2025-06-09T14:29:06","slug":"find-the-best-variable-mortgage-rates-in-canada","status":"publish","type":"page","link":"https:\/\/www.nerdwallet.com\/ca\/mortgages\/find-the-best-variable-mortgage-rates-in-canada","title":{"rendered":"The Best Variable Mortgage Rates in Canada"},"content":{"rendered":"\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div style=\"height:25px\" aria-hidden=\"true\" id=\"rates\" class=\"wp-block-spacer\"><\/div>\n\n\n\t\t<div class=\"mortgage-rate-tables nw-block nwb-mortgage-rate-tables nwb-mortgage-rate-tables-ca wp-block-nerdwallet-blocks-mortgage-rate-tables\">\n\t\t\t<div style=\"margin-bottom: 8px;\"><strong>Rates updated: <time datetime=\"2026-04-11\">April 11, 2026<\/time><\/strong><\/div>\n\t\t\t<form class=\"mrt-form\">\n\t\t\t\t<div class=\"filters wp-block-columns is-layout-flex\">\n\t\t\t\t\t<input type=\"hidden\" class=\"i-hidden i-attributes \" name=\"attributes\" value=\"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type=\"hidden\" class=\"i-hidden i-country \" name=\"country\" value=\"ca\"><input type=\"hidden\" class=\"i-hidden i-page_size \" name=\"page_size\" value=\"7\"><input type=\"hidden\" class=\"i-hidden i-page_offset \" name=\"page_offset\" value=\"1\"><input type=\"hidden\" class=\"i-hidden i-lender \" name=\"lender\"><div class=\"form-group wrap-mortgage-type wp-block-column is-layout-flow\"><label for=\"mortgage_type\" id=\"lbl-mortgage_type\">Mortgage Type <a class=\"nw-tooltip\" title=\"The purpose of your mortgage.\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"15\" height=\"15\" aria-hidden=\"true\" focusable=\"false\" fill=\"#000000\" viewBox=\"0 0 256 256\"><path d=\"M140,180a12,12,0,1,1-12-12A12,12,0,0,1,140,180ZM128,72c-22.06,0-40,16.15-40,36v4a8,8,0,0,0,16,0v-4c0-11,10.77-20,24-20s24,9,24,20-10.77,20-24,20a8,8,0,0,0-8,8v8a8,8,0,0,0,16,0v-.72c18.24-3.35,32-17.9,32-35.28C168,88.15,150.06,72,128,72Zm104,56A104,104,0,1,1,128,24,104.11,104.11,0,0,1,232,128Zm-16,0a88,88,0,1,0-88,88A88.1,88.1,0,0,0,216,128Z\"><\/path><\/svg><\/a><\/label><select class=\"form-control nw-input i-select i-mortgage_type \" name=\"mortgage_type\" title=\"Mortgage Type\" type=\"select\"><option value=\"purchase\" selected=\"selected\" >Purchase<\/option><option value=\"remortgage\"  >Refinance<\/option><option value=\"switch\"  >Renewal\/Switch<\/option><\/select><\/div><div class=\"form-group wrap-house-price wp-block-column is-layout-flow form-group-amount\" data-currency=\"$\"><label for=\"house_price\" id=\"lbl-house_price\">Property Value <a class=\"nw-tooltip\" title=\"Price of the property you want to buy, or market value of a property you own.\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"15\" height=\"15\" aria-hidden=\"true\" focusable=\"false\" fill=\"#000000\" viewBox=\"0 0 256 256\"><path d=\"M140,180a12,12,0,1,1-12-12A12,12,0,0,1,140,180ZM128,72c-22.06,0-40,16.15-40,36v4a8,8,0,0,0,16,0v-4c0-11,10.77-20,24-20s24,9,24,20-10.77,20-24,20a8,8,0,0,0-8,8v8a8,8,0,0,0,16,0v-.72c18.24-3.35,32-17.9,32-35.28C168,88.15,150.06,72,128,72Zm104,56A104,104,0,1,1,128,24,104.11,104.11,0,0,1,232,128Zm-16,0a88,88,0,1,0-88,88A88.1,88.1,0,0,0,216,128Z\"><\/path><\/svg><\/a><\/label><input type=\"text\" class=\"form-control nw-input i-text i-house_price \" name=\"house_price\" value=\"500,000\" title=\"Property Value\" placeholder=\"Property Value\" maxlength=\"11\" type=\"amount\"><\/div><div class=\"form-group wrap-down-payment wp-block-column is-layout-flow mortgage-type-purchase form-group-amount\" data-currency=\"$\"><label for=\"down_payment\" id=\"lbl-down_payment\">Down Payment <a class=\"nw-tooltip\" title=\"A percentage of the purchase price that is paid upfront.\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"15\" height=\"15\" aria-hidden=\"true\" focusable=\"false\" fill=\"#000000\" viewBox=\"0 0 256 256\"><path d=\"M140,180a12,12,0,1,1-12-12A12,12,0,0,1,140,180ZM128,72c-22.06,0-40,16.15-40,36v4a8,8,0,0,0,16,0v-4c0-11,10.77-20,24-20s24,9,24,20-10.77,20-24,20a8,8,0,0,0-8,8v8a8,8,0,0,0,16,0v-.72c18.24-3.35,32-17.9,32-35.28C168,88.15,150.06,72,128,72Zm104,56A104,104,0,1,1,128,24,104.11,104.11,0,0,1,232,128Zm-16,0a88,88,0,1,0-88,88A88.1,88.1,0,0,0,216,128Z\"><\/path><\/svg><\/a><\/label><input type=\"text\" class=\"form-control nw-input i-text i-down_payment \" name=\"down_payment\" value=\"50,000\" title=\"Down Payment\" placeholder=\"Down Payment\" maxlength=\"11\" type=\"amount\"><\/div><div class=\"form-group wrap-mortgage-balance wp-block-column is-layout-flow mortgage-type-refinance d-none form-group-amount\" data-currency=\"$\"><label for=\"mortgage_balance\" id=\"lbl-mortgage_balance\">Mortgage Balance<\/label><input type=\"text\" class=\"form-control nw-input i-text i-mortgage_balance \" name=\"mortgage_balance\" value=\"400,000\" title=\"Mortgage Balance\" placeholder=\"Mortgage Balance\" maxlength=\"11\" type=\"amount\"><\/div><div class=\"form-group wrap-province wp-block-column is-layout-flow\"><label for=\"province\" id=\"lbl-province\">Province<\/label><select class=\"form-control nw-input i-select i-province \" name=\"province\" title=\"Province\" type=\"select\"><option value=\"AB\"  >Alberta<\/option><option value=\"BC\"  >British Columbia<\/option><option value=\"MB\"  >Manitoba<\/option><option value=\"NB\"  >New Brunswick<\/option><option value=\"NL\"  >Newfoundland and Labrador<\/option><option value=\"NT\"  >Northwest Territories<\/option><option value=\"NS\"  >Nova Scotia<\/option><option value=\"NU\"  >Nunavut<\/option><option value=\"ON\" selected=\"selected\" >Ontario<\/option><option value=\"PE\"  >Prince Edward Island<\/option><option value=\"SK\"  >Saskatchewan<\/option><option value=\"QC\"  >Quebec<\/option><option value=\"YT\"  >Yukon<\/option><\/select><\/div>\t\t\t\t\t<div class=\"wp-block-column is-layout-flow wrap-submit-button\">\n\t\t\t\t\t\t<div class=\"wp-block-button \">\n\t\t\t\t\t\t\t<button type=\"submit\" class=\"btnSubmit track-submission wp-block-button__link wp-element-button full-width\">UPDATE RESULTS<\/button>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t<div class=\"table-with-sidebar wp-block-columns is-layout-flex\">\n\t\t\t\t\t<div class=\"wp-block-column is-layout-flow\">\n\t\t\t\t\t\t<div class=\"wrap-table-registers\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t<div class=\"show-result-number-wrapper\">\n\t\t\t<p><strong class=\"mrt-count\">No results<\/strong><\/p>\n\t\t\t\t\t\t\t<a class=\"d-md-none\" style=\"cursor: pointer;\" aria-label=\"Open Filter Rates\">\n\t\t\t\t\t<svg class=\"btnFilterRates\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" fill=\"#008254\" viewBox=\"0 0 256 256\"><path d=\"M40,92H70.06a36,36,0,0,0,67.88,0H216a12,12,0,0,0,0-24H137.94a36,36,0,0,0-67.88,0H40a12,12,0,0,0,0,24Zm64-24A12,12,0,1,1,92,80,12,12,0,0,1,104,68Zm112,96H201.94a36,36,0,0,0-67.88,0H40a12,12,0,0,0,0,24h94.06a36,36,0,0,0,67.88,0H216a12,12,0,0,0,0-24Zm-48,24a12,12,0,1,1,12-12A12,12,0,0,1,168,188Z\"><\/path><\/svg>\n\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t<p><\/p>\n\n\t\t<table class=\"mrt-table mrt-table-ca\">\n\t\t\t<thead>\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"th-term\"> <a class=\"nw-tooltip\" title=\"The length of your mortgage contract.\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"15\" height=\"15\" aria-hidden=\"true\" focusable=\"false\" fill=\"#000000\" viewBox=\"0 0 256 256\"><path d=\"M140,180a12,12,0,1,1-12-12A12,12,0,0,1,140,180ZM128,72c-22.06,0-40,16.15-40,36v4a8,8,0,0,0,16,0v-4c0-11,10.77-20,24-20s24,9,24,20-10.77,20-24,20a8,8,0,0,0-8,8v8a8,8,0,0,0,16,0v-.72c18.24-3.35,32-17.9,32-35.28C168,88.15,150.06,72,128,72Zm104,56A104,104,0,1,1,128,24,104.11,104.11,0,0,1,232,128Zm-16,0a88,88,0,1,0-88,88A88.1,88.1,0,0,0,216,128Z\"><\/path><\/svg><\/a> <h3>Term<\/h3><\/th><th class=\"th-rate\"> <a class=\"nw-tooltip\" title=\"A fee charged to borrow money. Expressed as a percentage of the amount borrowed.\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"15\" height=\"15\" aria-hidden=\"true\" focusable=\"false\" fill=\"#000000\" viewBox=\"0 0 256 256\"><path d=\"M140,180a12,12,0,1,1-12-12A12,12,0,0,1,140,180ZM128,72c-22.06,0-40,16.15-40,36v4a8,8,0,0,0,16,0v-4c0-11,10.77-20,24-20s24,9,24,20-10.77,20-24,20a8,8,0,0,0-8,8v8a8,8,0,0,0,16,0v-.72c18.24-3.35,32-17.9,32-35.28C168,88.15,150.06,72,128,72Zm104,56A104,104,0,1,1,128,24,104.11,104.11,0,0,1,232,128Zm-16,0a88,88,0,1,0-88,88A88.1,88.1,0,0,0,216,128Z\"><\/path><\/svg><\/a> <h3>Rate<\/h3><\/th><th class=\"th-lender\"> <h3>Lender<\/h3><\/th><th class=\"th-payment\"> <a class=\"nw-tooltip\" title=\"Principal and interest due each month.\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"15\" height=\"15\" aria-hidden=\"true\" focusable=\"false\" fill=\"#000000\" viewBox=\"0 0 256 256\"><path d=\"M140,180a12,12,0,1,1-12-12A12,12,0,0,1,140,180ZM128,72c-22.06,0-40,16.15-40,36v4a8,8,0,0,0,16,0v-4c0-11,10.77-20,24-20s24,9,24,20-10.77,20-24,20a8,8,0,0,0-8,8v8a8,8,0,0,0,16,0v-.72c18.24-3.35,32-17.9,32-35.28C168,88.15,150.06,72,128,72Zm104,56A104,104,0,1,1,128,24,104.11,104.11,0,0,1,232,128Zm-16,0a88,88,0,1,0-88,88A88.1,88.1,0,0,0,216,128Z\"><\/path><\/svg><\/a> <h3>Monthly Payment<\/h3><\/th>\t\t\t\t\t<th class=\"th-cta\">&nbsp;<\/th>\n\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t<tbody class=\"mrt-tbody-registers\">\n\t\t\t\t\t\t<tr>\n\t\t\t<td colspan=\"5\">\n\t\t\t\t<div class=\"mrt-api-error\">\n\t\t\t\t\t<p style=\"text-align:center;\">We&#039;re currently experiencing technical difficulties. Please be assured that we are working to resolve this issue promptly. Try refreshing the page in a few moments. We apologise for any inconvenience and thank you for your patience.<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t\t\t\t<\/tbody>\n\t\t\t<tbody class=\"mrt-skeleton\">\n\t\t\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span class=\"sk-logo\"><\/span><span><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span class=\"sk-logo\"><\/span><span><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span class=\"sk-logo\"><\/span><span><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t\t<td><span><\/span><span class=\"sk-sm\"><\/span><\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t\t\t<\/tbody>\n\t\t<\/table>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div style=\"text-align: center;\" class=\"wp-block-button is-style-outline\">\n\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\t\t\t\ttype=\"button\"\n\t\t\t\t\t\t\t\t\tclass=\"btnLoadMore track-submission wp-block-button__link wp-element-button button-default\"\n\t\t\t\t\t\t\t\t\t>LOAD MORE RESULTS<\/button>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div class=\"sidebar wp-block-column is-layout-flow \">\n\t\t\t\t\t\t<div class=\"box extra-filters \">\n\t\t\t\t\t\t\t<div class=\"box-header\">\n\t\t\t\t\t\t\t\t<h3>Filters<\/h3>\n\t\t\t\t\t\t\t\t<button type=\"button\" class=\"close d-md-none\" aria-label=\"Close\">\n\t\t\t\t\t\t\t\t\t<span aria-hidden=\"true\">\u00d7<\/span>\n\t\t\t\t\t\t\t\t<\/button>\n\t\t\t\t\t\t\t\t<div style=\"text-align: center;\" class=\"wp-block-button is-style-link d-none d-md-block\">\n\t\t\t\t\t\t\t\t\t\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tdata-defaults=\"{&quot;mortgage_type&quot;:&quot;purchase&quot;,&quot;house_price&quot;:&quot;500,000&quot;,&quot;down_payment&quot;:&quot;50,000&quot;,&quot;mortgage_balance&quot;:&quot;400,000&quot;,&quot;province&quot;:&quot;ON&quot;,&quot;rate_type&quot;:[&quot;variable&quot;],&quot;mortgage_term&quot;:[&quot;3&quot;,&quot;5&quot;],&quot;lender&quot;:null}\"\n\t\t\tclass=\"btnResetFields wp-block-button__link wp-element-button\"\n\t\t\t>Clear filters<\/button>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"box-content\">\n\t\t\t\t\t\t\t\t<input type=\"hidden\" class=\"i-hidden i-sort \" name=\"sort\" value=\"term\" title=\"Sort by\" type=\"hidden\"><input type=\"hidden\" class=\"i-hidden i-rate_type \" name=\"rate_type\" value=\"variable\" title=\"Rate Type\" placeholder=\"Rate Type\" type=\"hidden\"><div id=\"wrap-mortgage_term\" class=\"form-group wrap-mortgage-term wp-block-column is-layout-flow\"><span class=\"checkbox-title caption label\">Mortgage Term<\/span><div class=\"checkbox custom-control custom-checkbox\"><input type=\"checkbox\" value=\"0.5\"  class=\"nw-input i-checkbox custom-control-input i-mortgage_term \" id=\"mortgage_term_0.5\" name=\"mortgage_term[]\" title=\"6 months\" placeholder=\"Mortgage Term\" type=\"checkbox\" \/><label class=\"custom-control-label\" for=\"mortgage_term_0.5\" id=\"lbl-mortgage_term_0.5\">6 months<\/label><\/div><div class=\"checkbox custom-control custom-checkbox\"><input type=\"checkbox\" value=\"1\"  class=\"nw-input i-checkbox custom-control-input i-mortgage_term \" id=\"mortgage_term_1\" name=\"mortgage_term[]\" title=\"1 year\" placeholder=\"Mortgage Term\" type=\"checkbox\" \/><label class=\"custom-control-label\" for=\"mortgage_term_1\" id=\"lbl-mortgage_term_1\">1 year<\/label><\/div><div class=\"checkbox custom-control custom-checkbox\"><input type=\"checkbox\" value=\"2\"  class=\"nw-input i-checkbox custom-control-input i-mortgage_term \" id=\"mortgage_term_2\" name=\"mortgage_term[]\" title=\"2 years\" placeholder=\"Mortgage Term\" type=\"checkbox\" \/><label class=\"custom-control-label\" for=\"mortgage_term_2\" id=\"lbl-mortgage_term_2\">2 years<\/label><\/div><div class=\"checkbox custom-control custom-checkbox\"><input type=\"checkbox\" value=\"3\" checked=\"checked\" class=\"nw-input i-checkbox custom-control-input i-mortgage_term \" id=\"mortgage_term_3\" name=\"mortgage_term[]\" title=\"3 years\" placeholder=\"Mortgage Term\" type=\"checkbox\" \/><label class=\"custom-control-label\" for=\"mortgage_term_3\" id=\"lbl-mortgage_term_3\">3 years<\/label><\/div><div class=\"checkbox custom-control custom-checkbox\"><input type=\"checkbox\" value=\"4\"  class=\"nw-input i-checkbox custom-control-input i-mortgage_term \" id=\"mortgage_term_4\" name=\"mortgage_term[]\" title=\"4 years\" placeholder=\"Mortgage Term\" type=\"checkbox\" \/><label class=\"custom-control-label\" for=\"mortgage_term_4\" id=\"lbl-mortgage_term_4\">4 years<\/label><\/div><div class=\"checkbox custom-control custom-checkbox\"><input type=\"checkbox\" value=\"5\" checked=\"checked\" class=\"nw-input i-checkbox custom-control-input i-mortgage_term \" id=\"mortgage_term_5\" name=\"mortgage_term[]\" title=\"5 years\" placeholder=\"Mortgage Term\" type=\"checkbox\" \/><label class=\"custom-control-label\" for=\"mortgage_term_5\" id=\"lbl-mortgage_term_5\">5 years<\/label><\/div><\/div>\t\t\t\t\t\t\t\t<div class=\"wp-block-button \">\n\t\t\t\t\t\t\t\t\t<button type=\"submit\" class=\"btnSubmit track-submission wp-block-button__link wp-element-button full-width\">UPDATE RESULTS<\/button>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div style=\"text-align: center; margin-top: 16px;\" class=\"wp-block-button is-style-link d-md-none\">\n\t\t\t\t\t\t\t\t\t\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tdata-defaults=\"{&quot;mortgage_type&quot;:&quot;purchase&quot;,&quot;house_price&quot;:&quot;500,000&quot;,&quot;down_payment&quot;:&quot;50,000&quot;,&quot;mortgage_balance&quot;:&quot;400,000&quot;,&quot;province&quot;:&quot;ON&quot;,&quot;rate_type&quot;:[&quot;variable&quot;],&quot;mortgage_term&quot;:[&quot;3&quot;,&quot;5&quot;],&quot;lender&quot;:null}\"\n\t\t\tclass=\"btnResetFields wp-block-button__link wp-element-button\"\n\t\t\t>Clear filters<\/button>\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/form>\n\n\t\t\t\t\t<\/div>\n\n\t\t\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"has-extra-small-font-size\">Disclaimer: The rates displayed do not include any taxes, fees, insurance, or other additional charges. These rates are estimates and are not guaranteed. The actual rate and loan terms you receive will depend on our partner\u2019s assessment of your creditworthiness, loan amounts, and other relevant factors. Please note that any potential savings figures provided are estimates based on the information you and our advertising partners have provided. Terms and conditions apply.<br>Mortgage Brokerage licensed in ON #13072, AB #2122265990, BC #X300983, MB #RW-2011175, NL #88786, NB #210042526, NS #2023-3000270, PEI #755902715, QC\u00a0#606914, SK\u00a0#508695, YT #839770<\/p>\n<\/div>\n<\/div>\n\n\n<div class=\"c-block-in-house-promotion is-advert-style__image-small is-style-horizontal wp-block-nerdwallet-blocks-in-house-ad\">\n\n\t\t\t<div class=\"c-promotion-banner__partner-spotlight\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/plugins\/nerdwallet-blocks\/assets\/images\/nerdwallet-bug.svg\"\n\t\t\t\talt=\"Nerdwallet Logo\"\n\t\t\t\/>\n\t\t\t<span class=\"c-promotion-banner__partner-spotlight--title\">\n\t\t\t\tPartner Spotlight\t\t\t<\/span>\n\t\t<\/div>\n\t\n\t<div\n\t\tclass=\"c-block-in-house-promotion__inner\"\n\t\tstyle=\"background-image: none;\"\n\t>\n\n\t\t\t\t\t<div class='c-block-in-house-promotion__image-wrapper'>\n\t\t\t\t<div class='c-block-in-house-promotion__image'>\n\t\t\t\t\t<img decoding=\"async\" class=\"c-block-in-house-promotion__icon-img\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/05\/Screenshot-2024-05-14-at-1.18.41\u202fPM.png\" alt=\"Ad Icon\" \/>\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t<div class=\"c-block-in-house-promotion__content-wrapper c-block-in-house-promotion__no-image\">\n\t\t\t\n\t\t\t<h3 class=\"c-block-in-house-promotion__title\">Let 8Twelve find the right mortgage lender for you<\/h3>\n\t\t\t\t\t\t\t<p class=\"c-block-in-house-promotion__content\">\n\t\t\t\t\t8Twelve has partnered with over 65 Canadian mortgage lenders to provide competitive rates on over 7,000 mortgage products. 8Twelve can quickly match you with a lender and mortgage type that meets your needs \u2014 even if your financial situation is unique. <br>Click &#8220;Explore Quote&#8221; to get started! \t\t\t\t<\/p>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"c-block-in-house-promotion__cta wp-block-button\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/8twelve-mortgage\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" class=\"nw-cta track-click-mon wp-block-button__link wp-element-button\" data-placement=\"Promotional banner\">EXPLORE QUOTE<\/a><\/div>\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Variable mortgage rates at Canada&#8217;s Big 6 banks<\/h2>\n\n\n\n<p class=\"\">Click on a bank&#8217;s name to see a complete rundown of its posted and discounted mortgage rates.<\/p>\n\n\n<div class=\"c-tablepress-table-wrapper\" style=\"overflow-x: auto;\">\n<table id=\"tablepress-553\" class=\"tablepress tablepress-id-553\" aria-describedby=\"tablepress-553-description\">\n<tbody class=\"row-hover\">\n<tr class=\"row-1 odd\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/rbc-mortgage-rates\">RBC<\/a><\/td><td class=\"column-2\">4.55%<\/td>\n<\/tr>\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/td-mortgage-rates\">TD<\/a><\/td><td class=\"column-2\">4.89%<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/bmo-mortgage-rates\">BMO<\/a><\/td><td class=\"column-2\">4.55%<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/CIBC-mortgage-rates\">CIBC<\/a><\/td><td class=\"column-2\">4.65%<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/Scotiabank-mortgage-rates\">Scotiabank<\/a><\/td><td class=\"column-2\">5.40%<br \/>\n<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/national-bank-mortgage-rates\">National Bank<\/a><\/td><td class=\"column-2\">4.45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<span id=\"tablepress-553-description\" class=\"tablepress-table-description tablepress-table-description-id-553\">Advertised rates for closed mortgages with amortizations under 25 years. Data source: Canada&#8217;s major banks.<\/span>\n<\/div>\n\n<div class=\"c-block-tabs-wrapper \">\n\t<div role=\"tablist\" aria-label=\"Tabs\" class=\"c-block-tabs\">\n\t\t\t\t\t<div class=\"c-block-tabs__tab c-block-tabs__tab--active\"\n\t\t\t\t role=\"tab\"\n\t\t\t\t aria-selected=\"true\"\n\t\t\t\t aria-controls=\"0\"\n\t\t\t\t id=\"tab-0\"\n\t\t\t\t data-tabid=\"0\">Compare variable mortgage rates from non-bank lenders and brokerages<\/div>\n\t\t\t\t\t\t<div class=\"c-block-tabs__tab \"\n\t\t\t\t role=\"tab\"\n\t\t\t\t aria-selected=\"false\"\n\t\t\t\t aria-controls=\"1\"\n\t\t\t\t id=\"tab-1\"\n\t\t\t\t data-tabid=\"1\">Compare fixed mortgage rates<\/div>\n\t\t\t\t\t\t<div class=\"c-block-tabs__tab \"\n\t\t\t\t role=\"tab\"\n\t\t\t\t aria-selected=\"false\"\n\t\t\t\t aria-controls=\"2\"\n\t\t\t\t id=\"tab-2\"\n\t\t\t\t data-tabid=\"2\">Mortgage calculators to inform your home buying journey<\/div>\n\t\t\t\t<\/div>\n\n\t<div class=\"c-block-tabs-all\">\n\t\t\n<div class=\"wp-block-nerdwallet-blocks-tabs\">\n<div class=\"wp-block-nerdwallet-blocks-tabs-content c-block-tabs-content\" data-tabid=\"0\" role=\"tabpanel\" aria-labelledby=\"tab-0\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/tangerine-mortgage-rates\" target=\"_blank\" rel=\"noreferrer noopener\">Current Tangerine mortgage rates<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/butler-mortgage-rates\" target=\"_blank\" rel=\"noreferrer noopener\">Current Butler mortgage rates<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/first-national-mortgage-rates\" target=\"_blank\" rel=\"noreferrer noopener\">Current First national mortgage rates<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-default\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/true-north-mortgage-rates\" target=\"_blank\" rel=\"noreferrer noopener\">Current True North Mortgage rates<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-tabs-content c-block-tabs-content\" data-tabid=\"1\" role=\"tabpanel\" aria-labelledby=\"tab-1\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/best-3-year-fixed-mortgage-rates-in-canada\" target=\"_blank\" rel=\"noreferrer noopener\">The best 3-Year fixed mortgage rates in Canada<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/best-5-year-fixed-mortgage-rates-in-canada\" target=\"_blank\" rel=\"noreferrer noopener\">The best 5-year fixed mortgage rates in Canada<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-tabs-content c-block-tabs-content\" data-tabid=\"2\" role=\"tabpanel\" aria-labelledby=\"tab-2\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-3 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/p\/calculators\/mortgages\/canada-mortgage-payment-calculator\" target=\"_blank\" rel=\"noreferrer noopener\">payment calculator:<br>How much will my monthly payment be?<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/p\/calculators\/mortgages\/canada-mortgage-affordability-calculator\" target=\"_blank\" rel=\"noreferrer noopener\">affordability calculator:<br>how much house can I currently afford?<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.nerdwallet.com\/ca\/p\/calculators\/mortgages\/closing-costs-calculator\" target=\"_blank\" rel=\"noreferrer noopener\">closing costs calculator:<br>How much will I need to pay on closing day?<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group has-white-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading\" id=\"news\"><strong>Variable mortgage rate<\/strong> news: April 2025<\/h2>\n\n\n<div style=\"padding-top:0;padding-bottom:0;margin-top:var(--wp--preset--spacing--30);margin-bottom:0;\" class=\"has-background has-lightest-green-background-color  wp-block-post-author has-large-font-size\"><div class=\"wp-block-post-author__avatar\"><img alt='' decoding=\"async\" src='https:\/\/secure.gravatar.com\/avatar\/9a0103575184ab914148bee0093231f8?s=48&#038;d=mm&#038;r=g' srcset='https:\/\/secure.gravatar.com\/avatar\/9a0103575184ab914148bee0093231f8?s=96&#038;d=mm&#038;r=g 2x' class='avatar avatar-48 photo avatar-default' height='48' width='48' \/><\/div><div class=\"wp-block-post-author__content\"><p class=\"wp-block-post-author__byline\"><strong>NerdWallet Mortgage Expert\/Spokesperson<\/strong><\/p><p class=\"wp-block-post-author__name\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/cjarvis\" target=\"_self\">Clay Jarvis<\/a><\/p><\/div><\/div>\n\n\n<p class=\"\">On April 16, 2025, the Bank of Canada announced that it would be holding its overnight rate at 2.75%. It was the Bank\u2019s first rate hold after a series of seven consecutive cuts dating back to June 2024.&nbsp;<\/p>\n\n\n\n<p class=\"\">The Bank\u2019s reasons for holding the overnight rate were the economic uncertainty caused by the U.S. tariff war and the risk of increasing inflation by lowering borrowing costs. (The overnight rate directly influences lenders\u2019 prime rates.)<\/p>\n\n\n\n<p class=\"\">This isn\u2019t spectacular news for home buyers, as variable mortgage rates will stay at their current levels until at least June 4, when the Bank makes its next rate decision. The lowest variable rates available are currently around 4%.<\/p>\n\n\n\n<p class=\"\">While variable rates may not improve in the next six weeks, home buyers have a few things working in their favour. Housing stock is piling up, which should take some pressure off of home prices, and Donald Trump\u2019s tariff war may not be the extinction-level event many had feared.&nbsp;<\/p>\n\n\n\n<p class=\"\">If you have job security, it\u2019s actually not a bad time to be looking for a home.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Will variable mortgage rates come down more in 2025?<\/strong><\/h3>\n\n\n\n<p class=\"\">The Bank of Canada reduced its overnight rate five times in 2024, capping the year off with two 50-basis point cuts. It might not be quite as aggressive in 2025.<\/p>\n\n\n\n<p class=\"\">In the first half of 2025, the Bank might feel comfortable shaving another 50 basis point off the overnight rate, which would bring variable mortgage rates down by another 0.5%. Larger cuts might be in play depending on the state of the economy, but the Bank needs time to gauge the impact of its previous actions before uncorking any further supersized cuts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Making your own variable mortgage rate forecast<\/strong><\/h3>\n\n\n\n<p class=\"\">If you want to carry out a little DIY mortgage rate forecasting, keep an eye on Canada\u2019s inflation rate.<\/p>\n\n\n\n<p class=\"\">If inflation is trending upward, you can generally expect the Bank of Canada to respond by raising its overnight rate. When that happens, variable mortgage rates also increase. If inflation is declining, the Bank may choose to lower the overnight rate, which will result in lower variable rates.<\/p>\n\n\n\n<p class=\"\" id=\"right\">The economy can be a tricky thing to read, and forecasts are frequently wrong, so never assume you know exactly where rates are heading.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Is a variable mortgage rate right for you<\/strong>?<\/h2>\n\n\n\n<p class=\"\">Variable mortgage rates have historically been lower than fixed rates, but there\u2019s a lot more to consider when deciding whether a variable rate is the right choice for your mortgage, including:<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\"><strong>Can you live with the risk of higher rates?<\/strong> If variable rates spike during your mortgage term, you could wind up paying more in interest and taking longer to pay off your mortgage in full.<\/li>\n\n\n\n<li class=\"\"><strong>How do you value the option to switch rate types? <\/strong>You can generally switch a variable rate to a fixed rate mid-term, which can help if fixed rates are static or dropping when variable rates are rising. A fixed rate can\u2019t be converted to a variable.<\/li>\n\n\n\n<li class=\"\"><strong>What are the odds you\u2019ll move before your term is up?<\/strong> If you have a variable-rate mortgage, you might only be able to port it to a new property if you convert it to a fixed rate first.&nbsp;<\/li>\n\n\n\n<li class=\"\"><strong>Think you\u2019ll make big prepayments? <\/strong>Breaking a variable-rate mortgage to sell or refinance a home generally involves a prepayment penalty worth three months\u2019 interest. Breaking a fixed-rate mortgage can trigger more substantial penalties.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-lightest-green-background-color has-background\"><strong>Nerdy tip:<\/strong> Variable mortgage rates are generally a better option for homeowners who value flexibility. You\u2019ll be able to switch to a fixed rate if variable rates rise more than you\u2019re comfortable with. If you think you might sell your home during your mortgage term, you\u2019ll only pay three months\u2019 interest as a prepayment penalty on a variable rate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is it a good idea to get a variable-rate mortgage now?&nbsp;<\/h3>\n\n\n\n<p class=\"\">The Bank of Canada has lowered&nbsp; the overnight rate four times since June, and they will contemplate an additional cut in December. However, variable rates are still higher than today\u2019s lowest three- and five-year fixed rates. Variable mortgage rates are likely to remain both more expensive and, thanks to the <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/mortgage-stress-test\">mortgage stress test<\/a>, harder to qualify for at least though the end of this year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Five ways to get the best variable mortgage rate<\/strong><\/h2>\n\n\n\n<p class=\"\"><strong>1.<\/strong> <strong>Boost your credit score&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"\">The best mortgage rates generally go to creditworthy borrowers, meaning those with a solid credit score of 680 and higher. Lenders perceive borrowers with high credit scores as lower risk.&nbsp;<\/p>\n\n\n\n<p class=\"\">Regularly paying your bills and credit card balances in full is one way to keep your credit score in good standing.&nbsp;<\/p>\n\n\n\n<p class=\"\"><strong>2. Maintain low debt service ratios<\/strong><\/p>\n\n\n\n<p class=\"\">Lenders take a careful look at two <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/what-are-debt-service-ratios\">debt service ratios<\/a> when deciding how much to loan you and at what interest rate.&nbsp;<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\">Your gross debt service (GDS) ratio, the percentage of your pre-tax household income that goes towards housing costs, should not exceed 39% of your yearly gross income.<\/li>\n\n\n\n<li class=\"\">Your total debt service (TDS) ratio, which includes GDS and any other debts you are carrying, should not be more than 44% of your pre-tax household income.<\/li>\n<\/ul>\n\n\n\n<p class=\"\"><strong>3.<\/strong> <strong>Increase your down payment<\/strong><\/p>\n\n\n\n<p class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/how-to-save-for-a-down-payment\">Saving a down payment<\/a> isn\u2019t easy, but amassing a larger one can work wonders for your mortgage.<\/p>\n\n\n\n<p class=\"\">You\u2019ll borrow less, which will decrease your overall mortgage costs. Proving you can save money and prioritize homeownership might signal to lenders that you\u2019re worthy of a lower interest rate.<\/p>\n\n\n\n<p class=\"\"><strong>4.<\/strong> <strong>Compare mortgage offers from different lenders<\/strong><\/p>\n\n\n\n<p class=\"\">Canada\u2019s mortgage market has a healthy amount of choice. Take advantage of the options out there \u2014 Big Six banks, alternative lenders, credit unions and trust companies \u2014 and compare the rates and mortgage products available to find the best deal.<\/p>\n\n\n\n<p class=\"\">In addition to evaluating interest rates, look at each product\u2019s terms and conditions to find the one that best suits your needs. Working with a <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/what-is-a-mortgage-broker\">mortgage broker<\/a> can make these comparisons more manageable.<\/p>\n\n\n\n<p class=\"\"><strong>5.<\/strong> <strong>Negotiate<\/strong><\/p>\n\n\n\n<p class=\"\">You should always try to negotiate a lower rate than what your lender initially offers. Use the information you gather when comparing rates as leverage<\/p>\n\n\n\n<p class=\"\" id=\"basics\">Keep in mind that variable mortgage rates are based on a lender\u2019s prime rate, so there might not be as much room to negotiate as there would be if you were discussing fixed rates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Variable mortgage rate basics<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">What is a variable mortgage rate?<\/h3>\n\n\n\n<p class=\"\">A variable mortgage rate is one of two main interest rate types in Canada. Unlike a fixed mortgage rate, which stays the same for the entirety of a mortgage term, a variable rate might increase or decrease several times before a term ends.&nbsp;<\/p>\n\n\n\n<p class=\"\">Why would someone choose a mortgage rate that can increase? In Canada, variable mortgage rates have generally been lower than fixed rates; when they are, they\u2019re easier to qualify for. Variable rates also offer other strategic advantages over fixed rates, like switchability and lower prepayment penalties.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What determines variable mortgage rates?<\/strong><\/h3>\n\n\n\n<p class=\"\">Variable mortgage rates are typically based on a lender\u2019s <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/prime-rate-in-canada-explained\">prime rate<\/a>. When the prime rate rises or falls, a lender\u2019s variable rates move in the same direction, and to the same degree.&nbsp;<\/p>\n\n\n\n<p class=\"\">Prime rates respond to the Bank of Canada\u2019s overnight rate, which is the interest rate banks pay to borrow money from each other. When the Bank\u2019s overnight rate increases or decreases, prime rates follow suit.<\/p>\n\n\n\n<p class=\"\">The overnight rate is a tool the Bank uses to control inflation. If inflation is running hot, the Bank raises the overnight rate to tamp down economic activity. If the economy is too sluggish, the Bank will lower the overnight rate to spur borrowing and spending.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Types of variable-rate mortgages<\/h3>\n\n\n\n<p class=\"\">There are two different types of variable rate mortgages in Canada:<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\"><strong>Fixed-payment variable-rate mortgages<\/strong>. The size of your mortgage payment doesn\u2019t change when your rate is adjusted. Instead, the percentage of your payment that goes toward interest either increases or decreases, which also affects how much is applied to the principal.&nbsp;<\/li>\n\n\n\n<li class=\"\"><strong>Variable-payment variable-rate mortgage<\/strong>s. The actual amount of your monthly mortgage payment can rise or fall, making this mortgage type particularly risky in a rising-rate environment.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Pros and cons of variable mortgage<\/strong> rates<\/h3>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-pros-cons c-block-pros-cons\"><h4 class=\"c-block-pros-cons__pros-title\">Pros:<\/h4><ul class=\"c-block-pros-cons__pros-values\"><li><strong>Lower rates. <\/strong>Historically, variable rates have been lower than fixed mortgage rates.&nbsp;<\/li><li><strong>Lower prepayment penalties. <\/strong>Compared to fixed-rate mortgages, variable&#8211;rate mortgages charge lower penalties if you prepay too much of your mortgage or break your mortgage contract in some other way.&nbsp;<\/li><li><strong>Switchability. <\/strong>If variable mortgage rates are rising and you\u2019re afraid of being able to maintain your payment schedule, you may be able to switch to a fixed rate of interest for the remainder of your mortgage term.<\/li><\/ul><h4 class=\"c-block-pros-cons__cons-title\">Cons:<\/h4><ul class=\"c-block-pros-cons__cons-values\"><li><strong>Unpredictability.<\/strong> If variable mortgage rates spike, your mortgage could become unaffordable.<\/li><li><strong>Smaller prepayment penalties still sting.<\/strong> If you have to break a variable-rate mortgage because of financial difficulties, paying a penalty equal to three months\u2019 interest could be painful.<\/li><li><strong>No portability.<\/strong> Your lender may not allow you to port a variable-rate mortgage unless you convert it to a fixed-rate mortgage. When making the switch, you\u2019ll be subject to your lender\u2019s <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/current-mortgage-rates-in-canada\">current mortgage rates<\/a>, which may be higher than you can afford.<\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Historical variable mortgage rates in Canada<\/strong><\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-4 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"c-block-infogram-widget wp-block-nerdwallet-blocks-infogram\">\n\t\n<div class=\"infogram-embed\" data-id=\"ten-years-of-variable-mortgage-rates-in-canada-1h7v4pd9l5o184k?live\" data-type=\"interactive\"><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"c-block-infogram-widget wp-block-nerdwallet-blocks-infogram\">\n\t\n<div class=\"infogram-embed\" data-id=\"best-variable-rates-1hxj48pkrvr352v?live\" data-type=\"interactive\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Alternatives to variable-rate mortgages<\/strong><\/h2>\n\n\n\n<p class=\"\">If you aren\u2019t comfortable with the risks associated with variable mortgage rates, there are other options to consider.<\/p>\n\n\n\n<p class=\"\"><strong>Choose a fixed rate<\/strong><\/p>\n\n\n\n<p class=\"\">Even though fixed mortgage rates are typically higher than variable rates, you\u2019re purchasing peace of mind in exchange for the additional interest costs.<\/p>\n\n\n\n<p class=\"\">With a fixed-rate mortgage, your interest rate doesn\u2019t change for the length of your mortgage term. If you opted for a <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/best-3-year-fixed-mortgage-rates-in-canada\">three-year fixed mortgage rate<\/a> in 2023, for example, your payments would stay the same until 2026.<\/p>\n\n\n\n<p class=\"\">Even if rates go through the roof, you won\u2019t have to worry about your mortgage payment being affected \u2014 until you <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/3-ways-to-take-on-a-budget-busting-mortgage-renewal\">renew your mortgage<\/a>.&nbsp;<\/p>\n\n\n\n<p class=\"\"><strong>Choose a hybrid mortgage<\/strong><\/p>\n\n\n\n<p class=\"\" id=\"faqs\">A hybrid mortgage contains multiple mortgage types rolled into a single mortgage product. It might include a variable-rate component, a fixed-rate component and a line of credit. Because of the moving parts involved, hybrid mortgages may be better for experienced borrowers.<\/p>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-faq c-block-faq\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\"><div class=\"c-block-faq__wrapper\"><div class=\"c-block-faq__header\"><h2 class=\"c-block-faq__title\">Frequently asked questions about variable mortgage rates<\/h2><\/div><div class=\"c-block-faq__section-list\">\n<div class=\"wp-block-nerdwallet-blocks-faq-section\"><div class=\"c-block-faq-section c-block-accordion-wrapper\"><div class=\"c-block-accordion-list\">\n<div class=\"c-block-faq-item c-block-accordion-item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\"><strong>When will variable mortgage rates decrease?<\/strong><\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">Variable mortgage rates started decreasing in June 2024, shrinking each time the Bank of Canada reduced its overnight rate. After seven consecutive cuts to the overnight rate, the Bank held it at 2.75% on April 16, 2025. <\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-block-faq-item c-block-accordion-item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\"><strong>What\u2019s a good variable mortgage rate today?<\/strong><\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">Variable mortgage rates dropped into the same range as fixed rates after the Bank of Canada&#8217;s seventh overnight rate cut in March 2025 \u2014 around 4% in some cases. Getting a variable rate below 4.25% will probably require reaching out to a broker to find you a better deal than what Canada&#8217;s biggest banks are offering. <\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-block-faq-item c-block-accordion-item\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\">How does the stress test work with variable mortgages?<\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">Whether you\u2019re applying for a variable- or fixed-rate mortgage, you\u2019ll need to pass the <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/mortgage-stress-test\">mortgage stress test, which <\/a>requires qualifying at the higher of either 5.25% or the rate you\u2019ve been offered plus 2%.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n\t<section class=\"c-block-card-grid container\"\n\t\t\t>\n\t\t\t\t\t<h4 class=\"c-block-card-grid__title\">\n\t\t\t\tDIVE EVEN DEEPER\t\t\t<\/h4>\n\t\t\n\t\t<div class=\"c-block-card-grid-scroll column-four\">\n\t\t\t<div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-42520\" class=\"c-block-card post-42520 page type-page status-publish has-post-thumbnail hentry content-classification-mortgages topic-mortgage-rates cluster-compare-mortgage-rates\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/current-mortgage-rates-in-canada\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"435\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/08\/GettyImages-1456630167-435x290.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Current Mortgage Rates in Canada\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/current-mortgage-rates-in-canada\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tCurrent Mortgage Rates in Canada\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Compare current mortgage rates to find the lowest mortgage rate for your home buying needs.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-42520 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-23435\" class=\"c-block-card post-23435 page type-page status-publish has-post-thumbnail hentry content-classification-mortgages topic-mortgage-calculator cluster-all-mortgage-calculators\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/canada-mortgage-affordability-calculator\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"435\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/02\/GettyImages-1369972502-435x290.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Calculator: How Much Mortgage Can You Afford?\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/canada-mortgage-affordability-calculator\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tCalculator: How Much Mortgage Can You Afford?\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Use our mortgage affordability calculator to see how your interest rate, down payment and debt ratios affect your housing budget.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-23435 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-40273\" class=\"c-block-card post-40273 page type-page status-publish has-post-thumbnail hentry content-classification-mortgages topic-mortgage-basics cluster-types-of-mortgages\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/understanding-b-lender-mortgages\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"398\" height=\"290\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/07\/GettyImages-874852222-398x290.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Understanding B-Lender Mortgages\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/understanding-b-lender-mortgages\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tUnderstanding B-Lender Mortgages\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>If the chartered banks, or A-lenders, turn you down for a mortgage, there\u2019s an entire industry of B-lenders you can turn to for your financing needs. <\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/clay-jarvis\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/03\/IMG_20220329_114424-150x150.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Clay Jarvis<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-40273 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-36202\" class=\"c-block-card post-36202 page type-page status-publish has-post-thumbnail hentry content-classification-mortgages topic-mortgage-calculator cluster-all-mortgage-calculators\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/closing-costs-calculator\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"192\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/GettyImages-941729686-e1638379329198-460x192.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Canada Closing Costs Calculator\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/closing-costs-calculator\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tCanada Closing Costs Calculator\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Create a more accurate home buying budget by estimating your closing costs \u2014 the one-time, upfront expenses you&#8217;ll pay before receiving the keys. <\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-36202 -->\n<\/div>\t\t<\/div>\n\t<\/section>\n\n","protected":false},"excerpt":{"rendered":"<p>Compare three- and five-year variable mortgage rates in Canada to find the right mortgage for your needs. <\/p>\n","protected":false},"author":25,"featured_media":45404,"parent":106,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":"[]","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":"","_nw_pros_cons_block_schema":"{\"@context\":\"http:\/\/schema.org\",\"@type\":\"Product\",\"name\":\"The Best Variable Mortgage Rates in Canada\",\"review\":{\"@type\":\"Review\",\"name\":\"The Best Variable Mortgage Rates in Canada\",\"author\":{\"@type\":\"Person\",\"name\":\"Post Author\"},\"positiveNotes\":{\"@type\":\"ItemList\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Lower rates. Historically, variable rates have been lower than fixed mortgage rates.\u00a0\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lower prepayment penalties. Compared to fixed-rate mortgages, variable--rate mortgages charge lower penalties if you prepay too much of your mortgage or break your mortgage contract in some other way.\u00a0\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Switchability. If variable mortgage rates are rising and you\u2019re afraid of being able to maintain your payment schedule, you may be able to switch to a fixed rate of interest for the remainder of your mortgage term.\"}]},\"negativeNotes\":{\"@type\":\"ItemList\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Unpredictability. If variable mortgage rates spike, your mortgage could become unaffordable.\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Smaller prepayment penalties still sting. If you have to break a variable-rate mortgage because of financial difficulties, paying a penalty equal to three months\u2019 interest could be painful.\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"No portability. Your lender may not allow you to port a variable-rate mortgage unless you convert it to a fixed-rate mortgage. When making the switch, you\u2019ll be subject to your lender\u2019s current mortgage rates, which may be higher than you can afford.\"}]}}}"},"content-classification":[16],"topic":[119],"cluster":[242],"pp_author":[87],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Variable Mortgage Rates (Updated Daily) - NerdWallet Canada<\/title>\n<meta name=\"description\" content=\"Easily compare variable mortgage rates. 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