Understand the rates.
Plan your next move.
Canadian policy and mortgage benchmarks, directly from the Bank of Canada. A clear starting point for your home-buying or renewal plan.
Published data, not personalised quotes.
Mortgage benchmarks update weekly. Policy observations are published on business days. Your lender’s offer may differ.Mortgage benchmarks
Compare terms, not teaser offers.
These are typical posted conventional mortgage rates from Canada’s six major chartered banks—not their lowest discounted rates, and not quotes from individual lenders.
| Fixed term | Posted rate | Observation date | Explore |
|---|---|---|---|
| 1-year fixed | 5.49% | Sep 30, 2026 | Model payments |
| 3-year fixed | 6.05% | Sep 30, 2026 | Model payments |
| 5-year fixed | 6.09% | Sep 30, 2026 | Model payments |
Source: Bank of Canada Valet API, series V80691333–V80691335. The typical rate is based on the most commonly posted rate among the six banks, with the Bank’s tie-breaking methodology. This is not an average of available offers.
Historical context
Where the policy rate has been.
The latest policy rate is unchanged from the first observation shown. This describes published history, not a prediction of the next decision.
We show the last available observation in each of the most recent six months. The current month may be incomplete.
Explore Bank of Canada historyTarget for the overnight rate
- May 29, 20262.25%
- Jun 30, 20262.25%
- Jul 31, 20262.25%
- Aug 31, 20262.25%
- Sep 30, 20262.25%
- Oct 1, 20262.25%
Bars share a zero baseline. Source: Bank of Canada, V39079.
Three rates. Different jobs.
Policy rate
The Bank of Canada’s target for overnight funding. It influences borrowing conditions; it is not a mortgage rate you can apply for.
Prime rate
A lender’s reference rate for products such as variable-rate loans. Each lender sets its own prime rate. The figure above is a typical major-bank benchmark.
Your mortgage offer
A lender-specific quote based on the product and your circumstances. Compare the rate alongside fees, prepayment privileges, penalties and eligibility.
Turn a benchmark into a planning scenario.
Test different rates, then replace the assumption with a personalised lender quote.
Data attributed to the Bank of Canada. PlanForMyHome is independent and is not endorsed by the Bank. Benchmarks are informational, not lending commitments or personalised financial advice.