Find your best mortgage rate in Quebec
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Best 5-year fixed
3.69%
▼Nesto
Best 5-year variable
3.45%
▼Nesto
Bank of Canada
2.25%
—Updated: March 6, 2026 · Sources: Ratehub, Nesto, official sites
Market overview: Quebec
The lowest rates available today, from brokers and banks. Insured rates (with CMHC mortgage insurance).
| Term | Best rate | Source |
|---|---|---|
| 6-month fixed | 2.49% |  True North |
| 5-year variable | 3.45% |  Nesto |
| 5-year fixed | 3.69% | Nesto |
| 2-year fixed | 3.74% | True North |
| 3-year fixed | 3.85% | Nesto |
| 4-year fixed | 4.47% | Nesto |
| 1-year fixed | 4.74% | True North |
| 7-year fixed | 5.84% | Nesto |
| 10-year fixed | 7.39% | Nesto |
Now compare them for your scenario
Customize amount, amortization, and down payment to see the monthly payment and FinMaple Score for each bank.
Your scenario:
Mortgage amount
Down payment (%)
Amortization
Province
| Bank | 5-year fixed rate | Monthly payment | FinMaple ScoreFinMaple Score = rate competitiveness + flexibility + overall newcomer value. |
|---|---|---|---|
 CIBC | 3.79% | $1,652/mo | 80 |
 Canwise (Ratehub) | 3.94% | $1,678/mo | 80 |
 Desjardins | 4.04% | $1,696/mo | 70 |
 Simplii Financial | 4.09% | $1,705/mo | 61 |
 First National | 4.14% | $1,714/mo | 60 |
 MCAP | 4.24% | $1,732/mo | 60 |
 RBC | 4.29% | $1,741/mo | 78 |
 TD | 4.29% | $1,741/mo | 77 |
 National Bank | 4.39% | $1,759/mo | 57 |
 Tangerine | 4.49% | $1,777/mo | 59 |
 BMO | 4.51% | $1,780/mo | 66 |
 Scotiabank | 4.74% | $1,823/mo | 74 |
*Estimated monthly payment: $400,000 mortgage, 20% down, 25-year amortization, fixed rate.
Banks offer high 'posted' rates and lower 'special' rates. Always negotiate the special rate.
Posted rates
| Bank | Variable 5yr | Fixed 1yr | Fixed 2yr | Fixed 3yr | Fixed 4yr | Fixed 5yr | Fixed 7yr | Fixed 10yr |
|---|---|---|---|---|---|---|---|---|
| BMO | 5.95% | 7.34% | 6.99% | 6.54% | 6.34% | 6.49% | 6.69% | 7.09% |
| CIBC | 5.95% | 6.84% | 6.59% | 6.99% | 6.54% | 6.84% | 6.65% | 7.14% |
| National Bank | 6.70% | 7.24% | 7.84% | 6.99% | 6.34% | 6.39% | 6.69% | 7.14% |
| RBC | 5.95% | 6.09% | 5.69% | 4.94% | 4.89% | 4.84% | 5.60% | 8.00% |
| Scotiabank | 6.90% | 7.29% | 6.89% | 6.54% | 6.34% | 6.49% | 6.70% | 7.19% |
| TD | 7.15% | 7.74% | 7.34% | 6.94% | 6.74% | 6.84% | 7.10% | 7.25% |
Special rates
| Bank | Variable 5yr | Fixed 1yr | Fixed 2yr | Fixed 3yr | Fixed 4yr | Fixed 5yr | Fixed 7yr | Fixed 10yr |
|---|---|---|---|---|---|---|---|---|
| BMO | 5.00% | — | — | — | 4.44% | — | — | — |
| CIBC | 5.95% | — | — | 4.34% | — | 5.06% | — | — |
| National Bank | 6.45% | — | — | 4.79% | — | 4.74% | — | — |
| RBC | 5.85% | 5.99% | 5.59% | 4.84% | 4.79% | 4.74% | 5.50% | — |
| Scotiabank | — | — | — | — | — | — | — | — |
| TD | 6.60% | — | — | 4.84% | — | 4.49% | — | — |
Desjardins is the largest lender in Quebec. Closed and open rates.
Closed mortgage
| Term | Rate |
|---|---|
| 4 years (special) Special | 4.34% |
| 5 years (special) Special | 4.39% |
| 1 year | 5.49% |
| 2 years | 5.59% |
| 3 years | 5.99% |
| 4 years | 6.04% |
| 5 years | 6.09% |
| 6 years | 6.29% |
| 7 years | 6.39% |
| 10 years | 6.89% |
| 6 months | 7.99% |
Open mortgage
| Term | Rate |
|---|---|
| 6 months | 9.75% |
| 1 year | 9.50% |
Detailed Nesto rates for Quebec based on your down payment percentage (Loan-to-Value).
| Term | 0-65% LTV | 65-70% LTV | 70-75% LTV | 75-80% LTV | Insured | Uninsured |
|---|---|---|---|---|---|---|
| 2-year fixed | 5.91% | 6.01% | 6.11% | 6.16% | 5.91% | — |
| 3-year fixed | 3.85% | 3.95% | 4.05% | 4.10% | 3.85% | 4.39% |
| 3-year variable | 3.60% | 3.75% | 3.80% | 3.85% | 3.60% | — |
| 4-year fixed | 4.47% | 4.57% | 4.67% | 4.72% | 4.47% | — |
| 5-year fixed | 3.69% | 3.74% | 3.89% | 3.89% | 3.64% | 4.19% |
| 5-year fixed (150 days) | 3.89% | 3.99% | 4.09% | 4.14% | 3.89% | — |
| 5-year variable | 3.45% | 3.50% | 3.65% | 3.65% | 3.40% | 3.85% |
| 5-year variable (150 days) | 3.60% | 3.75% | 3.80% | 3.85% | 3.60% | — |
| 7-year fixed | 5.84% | 5.94% | 6.04% | 6.09% | 5.84% | — |
| 10-year fixed | 7.39% | 7.49% | 7.59% | 7.64% | 7.39% | — |
Frequently asked questions about mortgages in Canada
What is the best mortgage rate in Canada in 2026?
5-year fixed rates are between 4% and 5%. FinMaple compares promotional rates weekly from RBC, TD, Scotiabank, BMO, CIBC, and National Bank. The exact rate depends on your credit profile, down payment, and province.
Can I buy a home as a newcomer without credit history?
Yes, with 5% down if you have PR + verifiable employment. BMO (NewStart), Scotiabank (StartRight), and RBC have programs for newcomers without Canadian credit. Without PR or employment, most require 35%.
What is the mortgage stress test?
A federal test (Rule B-20) requiring you to qualify at the greater of 5.25% or your rate + 2%. Applies to all buyers, even with more than 20% down.
How much down payment do I need as a newcomer?
Minimum 5% up to $500K and 10% on excess (up to $999K) with PR + employment. Properties $1.5M+ require 20%. Without PR or Canadian employment, most require 35%.
Fixed or variable rate: which is better in 2026?
Depends on your profile. Fixed = constant payments for 5 years, ideal for stability. Variable = may start lower but adjusts with the Bank of Canada. Historically, variable was cheaper in ~60% of 5-year periods.
What is CMHC mortgage insurance and how much does it cost?
Required if your down payment is under 20%. Costs 2.8% to 4% of the loan amount based on your down payment percentage. Added to the mortgage balance.
What are the additional costs of buying a home?
1.5% to 4% of purchase price. Includes: Land Transfer Tax, legal fees ($1,500-$2,500), inspection ($300-$500), appraisal ($300-$500), title insurance, and closing adjustments.
Which bank has the best program for newcomers?
BMO (NewStart) and Scotiabank (StartRight) lead. BMO allows up to $500K with 5% down and no credit history. Scotiabank has Spanish service and a Latin American network. RBC offers a 120-day rate hold.
The rates shown are for reference only and come from public sources. They may vary based on credit profile, down payment amount, province, and other factors. FinMaple is not a mortgage lender. Confirm current rates directly with each financial institution. Last updated: March 6, 2026.