Buying a home in Canada: mortgage rates and costs
What a mortgage typically costs in Canada right now, how the central bank rate compares, and a worked monthly payment example you can adjust in our calculators.
Typical mortgage rate
4.5% – 5.5%
5-year fixed, insured. The Canadian standard is 25-year amortization with 5-year term resets.
As of 2025-11-28. Source
Example monthly payment in Canada
| Purchase price | CA$600,000 |
|---|---|
| Deposit (20%) | CA$120,000 |
| Loan amount | CA$480,000 |
| Interest rate | 5% · 25-year term |
| Estimated monthly payment | CA$2,806 |
Illustration only, using the midpoint of the typical rate range. It excludes taxes, insurance and fees. Adjust the figures in the mortgage calculator.