Today's Top Deal

2.88%

5yr Variable

  • 0
  • 07
  • 53
  • 10
  • Days
  • HR
  • Min
  • Sec

Variable Flash Sale

Get This Rate

Lots to Love

They say rates are on the rise but for well-qualified borrowers with a financial cushion, a variable rate of prime - 1.07% offers tremendous risk/reward.

The Bank of Canada would need to hike rates almost four times for this mortgage to cost you more than a typical 5-year fixed, based on interest cost alone.

But more than that, this is Canada's best 5-year variable mortgage rate for folks with 20% down.

Keep in mind, the rate shown is based on a $300,000 mortgage with 20% equity. Mortgages with more equity qualify for even better rates.

Who’s Right For This Deal

Consider this rate if you have:

  • The need for a new mortgage on a home purchase or renewal
  • An $800,000 mortgage or less
  • At least 20% to 24.99% existing home equity
  • At least 3-4 months of living expenses saved up
  • A better-than-average ability to handle higher payments
  • A remaining amortization of 5 to 25 years
  • Good credit and provable income.

Rate Specifics

  • This rate is not available on refinances where you are adding money to your mortgage or extending the amortization
  • The rate is guaranteed for 90 days
  • Enjoy flexible 20% annual lump sum prepayment privileges and 20% payment increase
  • Optionally lock in your new rate to a 5-year fixed mortgage any time with no penalty
  • Links to your bank account for easy payments
  • Has portability with a 90-day port gap, subject to re-qualification
  • This offer is available to brand new clients who have not submitted an application in the last 6 months. It is based on approved credit and subject to change without notice.
  • Other conditions may apply. E&OE. O.A.C.

Got a question? Live chat with our friendly mortgage concierges, or call 800-280-2460 from 9 a.m. to 8 p.m. ET (5 p.m. PT).

How It Stacks Up

Today’s top deal should be the best value in Alberta, B.C., Ontario, New Brunswick, Newfoundland & Labrador and PEI. But don’t take our word for it. Compare this deal to others using Canada’s most popular rate shopping tools.