When buying a home, it’s recommended to shop around for interest rates and mortgage terms at different banks, since the interest rate paid on your mortgage will substantially affect your overall cost of homeownership.
Below you will find a list of posted fixed and variable mortgage rates, updated on February 5, 2019.
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| Mortgage Type/Term | |||||||
| Lending Institution | Variable | 6 Ms | 1 Year | 2 Years | 3 Years | 4 Years | 5 Years |
| Alterna Bank/Savings | 3.4 | 4.4 | 3.64 | 3.84 | 3.74 | 4.94 | 3.84 |
| ATB Financial | 3.3 | 4.5 | 3.34 | 3.54 | 3.74 | 3.84 | 3.89 |
| Bank of Montreal | 4.1 | 4.2 | 3.79 | 3.99 | 4.29 | 4.89 | 5.34 |
| Canadian Western Bank/Trust | 3.75 | 3.73 | 3.34 | 3.44 | 3.59 | 3.64 | 3.69 |
| CIBC | 3.95 | 3.75 | 3.54 | 3.64 | 3.94 | 4.49 | 5.34 |
| Comtech Credit Union | – | 6.2 | 3.39 | 3.49 | 3.69 | 3.74 | 3.79 |
| Desjardins – Caisses | 3.95 | 4.4 | 3.79 | 3.89 | 4.34 | 4.99 | 5.54 |
| Effort Trust | – | 4.5 | 4.4 | 4.5 | 4.95 | 5 | 5.3 |
| Equitable Bank | – | – | 3.64 | 3.89 | 4.45 | 5.04 | 5.34 |
| First National Financial | 3.95 | 4.5 | 4.29 | 3.99 | 3.99 | 3.99 | 3.89 |
| FirstOntario Credit Union | 3.45 | 4.94 | 3.79 | 3.74 | 3.79 | 3.79 | 3.89 |
| Home Trust | – | – | 3.49 | 3.74 | 4.3 | 5.04 | 5.34 |
| HSBC Bank Canada | 3.19 | 3.69 | 3.34 | 3.39 | 3.49 | 3.54 | 3.59 |
| Investors Group Trust | 3.7 | 4.2 | 3.49 | 3.59 | 4.14 | 4.89 | 5.34 |
| Kindred Credit Union | 3.95 | – | 4.3 | 4.35 | 4.4 | 4.45 | 4.5 |
| Laurentian Bank of Canada | 3.95 | 4.4 | 3.79 | 3.89 | 4.34 | 4.89 | 5.49 |
| League Savings & Mortgage | – | 4.45 | 3.45 | 3.55 | 3.65 | 3.75 | 3.85 |
| Libro Credit Union | – | 4.75 | 3.64 | 3.69 | 3.74 | 3.79 | 3.84 |
| London Life | 3.7 | 4.2 | 3.49 | 3.59 | 4.14 | 4.89 | 5.34 |
| Luminus Financial | 4 | – | 4.1 | 4.2 | 4.35 | 4.8 | 5.34 |
| Manulife | 4.45 | 4.45 | 3.69 | 3.79 | 3.89 | 3.94 | 4.04 |
| Meridian Credit Union | 3.15 | 4 | 3.24 | 3.49 | 3.74 | 3.89 | 3.69 |
| National Bank | 3.95 | 4.5 | 3.64 | 3.89 | 4.3 | 4.89 | 5.34 |
| PACE Savings & Credit Union | 3.95 | – | 3.64 | 3.84 | 3.95 | 4.59 | 4.99 |
| Parama Credit Union | 3.7 | – | 3.75 | 3.85 | 3.95 | 4.05 | 4.15 |
| Peace Hills Trust | – | 4.5 | 3.35 | 3.5 | 3.75 | 4.05 | 4.25 |
| Rapport Credit Union | 3.7 | 6 | 3.54 | 3.59 | 4.04 | 4.44 | 5.35 |
| RBC Royal Bank | 3.95 | 3.64 | 3.64 | 3.89 | 4.45 | 5.04 | 5.34 |
| Scotiabank | 4.15 | 4.75 | 3.79 | 3.79 | 4.44 | 4.59 | 5.44 |
| Simplii Financial | 3.95 | 6.19 | 3.54 | 3.64 | 3.89 | 4.39 | 4.99 |
| Steinbach Credit Union | – | – | 3.29 | 3.39 | 3.49 | 3.59 | 3.69 |
| Street Capital Bank | 3.2 | – | 3.89 | 3.89 | 3.89 | 3.89 | 3.99 |
| Tangerine | 3.55 | – | 3.49 | 3.64 | 3.69 | 3.79 | 3.74 |
| TD Canada Trust | 4.1 | 3.34 | 3.59 | 3.74 | 3.89 | 3.94 | 5.59 |
This article, Mortgage Interest Rate Update: Montreal, February 2019, appeared first on Shupilov News.