Rate history · Bank of Canada data since 2015
What did borrowers pay the month you signed?
Pick a month and see what new mortgages cost then, from the Bank of Canada's monthly figures for every month since January 2015, next to today's best published rate. It's the quickest way to see why a renewal payment is about to change.
In November 2021
Borrowers typically paid 2.35%
| Figure | November 2021 | Latest |
|---|---|---|
| Typical 5-year+ fixed, uninsured | 2.35% | 4.58% (August 2026) |
| Big-bank posted 5-year rate | 4.79% | 6.19% (October 2026) |
| 5-year Government of Canada bond yield | 1.40% | 3.58% (October 2026) |
| Prime rate | 2.45% | 4.45% (October 2026) |
| Bank of Canada policy rate | 0.25% | 2.50% (October 2026) |
| Best published today (ON, 5-year fixed) | — | 4.34% |
Renewal check · term ends about November 2026
- Payment at the typical rate then
- $1,982/mo
- Balance left after 5 years
- $379,714
- Payment renewing at today's best (4.34%) over 20 years
- $2,362/mo
- Change per month
- +$379
Estimate using the typical rate for that month, not your own contract. If your renewal is still ahead, today's best rate may change by then.
Grade my renewal letterShow the data
| Month | Typical 5-year+ fixed (uninsured) | Posted 5-year | 5-year GoC yield |
|---|---|---|---|
| Oct 26 | — | 6.19% | 3.58% |
| Sep 26 | — | 6.09% | 3.69% |
| Aug 26 | 4.58% | 6.09% | 3.33% |
| Jul 26 | 4.49% | 6.09% | 3.27% |
| Jun 26 | 4.35% | 6.09% | 3.01% |
| May 26 | 4.30% | 6.09% | 3.05% |
| Apr 26 | 4.17% | 6.09% | 3.20% |
| Mar 26 | 4.22% | 6.09% | 3.09% |
| Feb 26 | 4.31% | 6.09% | 2.67% |
| Jan 26 | 4.33% | 6.09% | 2.93% |
| Dec 25 | 4.31% | 6.09% | 2.96% |
| Nov 25 | 4.26% | 6.09% | 2.72% |
| Oct 25 | 4.40% | 6.09% | 2.70% |
| Sep 25 | 4.37% | 6.09% | 2.74% |
| Aug 25 | 4.31% | 6.09% | 2.88% |
| Jul 25 | 4.27% | 6.09% | 3.01% |
| Jun 25 | 4.25% | 6.09% | 2.83% |
| May 25 | 4.24% | 6.09% | 2.80% |
| Apr 25 | 4.30% | 6.49% | 2.67% |
| Mar 25 | 4.52% | 6.49% | 2.61% |
| Feb 25 | 4.61% | 6.49% | 2.60% |
| Jan 25 | 4.59% | 6.49% | 2.74% |
| Dec 24 | 4.61% | 6.49% | 2.96% |
| Nov 24 | 4.68% | 6.49% | 2.93% |
| Oct 24 | 4.82% | 6.49% | 3.02% |
| Sep 24 | 4.93% | 6.49% | 2.73% |
| Aug 24 | 5.11% | 6.59% | 3.03% |
| Jul 24 | 5.15% | 6.79% | 3.09% |
| Jun 24 | 5.21% | 6.84% | 3.51% |
| May 24 | 5.34% | 6.84% | 3.67% |
| Apr 24 | 5.30% | 6.84% | 3.87% |
| Mar 24 | 5.51% | 6.84% | 3.51% |
| Feb 24 | 5.57% | 6.84% | 3.57% |
| Jan 24 | 5.67% | 6.89% | 3.43% |
| Dec 23 | 5.96% | 7.04% | 3.17% |
| Nov 23 | 6.00% | 7.04% | 3.64% |
| Oct 23 | 5.79% | 7.04% | 4.12% |
| Sep 23 | 5.69% | 6.84% | 4.25% |
| Aug 23 | 5.46% | 6.84% | 3.89% |
| Jul 23 | 5.31% | 6.49% | 3.90% |
| Jun 23 | 5.12% | 6.49% | 3.68% |
| May 23 | 5.04% | 6.49% | 3.44% |
| Apr 23 | 5.08% | 6.49% | 2.97% |
| Mar 23 | 5.11% | 6.49% | 3.02% |
| Feb 23 | 5.09% | 6.49% | 3.52% |
| Jan 23 | 5.20% | 6.49% | 3.04% |
| Dec 22 | 5.22% | 6.49% | 3.41% |
| Nov 22 | 5.17% | 6.49% | 3.18% |
| Oct 22 | 5.01% | 6.49% | 3.43% |
| Sep 22 | 4.80% | 6.14% | 3.32% |
| Aug 22 | 4.44% | 6.14% | 3.34% |
| Jul 22 | 4.05% | 6.14% | 2.66% |
| Jun 22 | 3.70% | 6.04% | 3.10% |
| May 22 | 3.41% | 5.39% | 2.72% |
| Apr 22 | 3.26% | 4.99% | 2.75% |
| Mar 22 | 3.02% | 4.79% | 2.39% |
| Feb 22 | 2.81% | 4.79% | 1.64% |
| Jan 22 | 2.61% | 4.79% | 1.64% |
| Dec 21 | 2.51% | 4.79% | 1.25% |
| Nov 21 | 2.35% | 4.79% | 1.40% |
| Oct 21 | 2.22% | 4.79% | 1.50% |
| Sep 21 | 2.33% | 4.79% | 1.11% |
| Aug 21 | 2.31% | 4.79% | 0.84% |
| Jul 21 | 2.28% | 4.79% | 0.81% |
| Jun 21 | 2.14% | 4.79% | 0.97% |
| May 21 | 2.11% | 4.79% | 0.90% |
| Apr 21 | 2.03% | 4.79% | 0.93% |
| Mar 21 | 1.96% | 4.79% | 0.99% |
| Feb 21 | 1.94% | 4.79% | 0.88% |
| Jan 21 | 1.96% | 4.79% | 0.43% |
| Dec 20 | 1.97% | 4.79% | 0.39% |
| Nov 20 | 2.00% | 4.79% | 0.43% |
| Oct 20 | 2.05% | 4.79% | 0.40% |
| Sep 20 | 2.15% | 4.79% | 0.36% |
| Aug 20 | 2.26% | 4.79% | 0.40% |
| Jul 20 | 2.46% | 4.94% | 0.31% |
| Jun 20 | 2.60% | 4.94% | 0.36% |
| May 20 | 2.69% | 4.94% | 0.39% |
| Apr 20 | 2.71% | 5.04% | 0.38% |
| Mar 20 | 2.78% | 5.04% | 0.60% |
| Feb 20 | 2.96% | 5.19% | 1.07% |
| Jan 20 | 2.97% | 5.19% | 1.29% |
| Dec 19 | 2.94% | 5.19% | 1.68% |
| Nov 19 | 2.90% | 5.19% | 1.49% |
| Oct 19 | 2.85% | 5.19% | 1.42% |
| Sep 19 | 2.85% | 5.19% | 1.40% |
| Aug 19 | 2.90% | 5.19% | 1.18% |
| Jul 19 | 2.96% | 5.19% | 1.46% |
| Jun 19 | 3.12% | 5.34% | 1.39% |
| May 19 | 3.26% | 5.34% | 1.36% |
| Apr 19 | 3.40% | 5.34% | 1.54% |
| Mar 19 | 3.61% | 5.34% | 1.52% |
| Feb 19 | 3.71% | 5.34% | 1.82% |
| Jan 19 | 3.77% | 5.34% | 1.78% |
| Dec 18 | 3.77% | 5.34% | 1.88% |
| Nov 18 | 3.77% | 5.34% | 2.20% |
| Oct 18 | 3.65% | 5.34% | 2.42% |
| Sep 18 | 3.63% | 5.34% | 2.33% |
| Aug 18 | 3.58% | 5.34% | 2.16% |
| Jul 18 | 3.50% | 5.34% | 2.22% |
| Jun 18 | 3.51% | 5.34% | 2.06% |
| May 18 | 3.47% | 5.34% | 2.10% |
| Apr 18 | 3.43% | 5.14% | 2.11% |
| Mar 18 | 3.41% | 5.14% | 1.96% |
| Feb 18 | 3.38% | 5.14% | 2.04% |
| Jan 18 | 3.33% | 5.14% | 2.08% |
| Dec 17 | 3.29% | 4.99% | 1.86% |
| Nov 17 | 3.22% | 4.99% | 1.63% |
| Oct 17 | 3.08% | 4.99% | 1.62% |
| Sep 17 | 2.95% | 4.89% | 1.75% |
| Aug 17 | 2.78% | 4.84% | 1.53% |
| Jul 17 | 2.67% | 4.84% | 1.65% |
| Jun 17 | 2.68% | 4.64% | 1.38% |
| May 17 | 2.73% | 4.64% | 0.94% |
| Apr 17 | 2.81% | 4.64% | 1.00% |
| Mar 17 | 2.82% | 4.64% | 1.12% |
| Feb 17 | 2.80% | 4.64% | 1.09% |
| Jan 17 | 2.72% | 4.64% | 1.11% |
| Dec 16 | 2.63% | 4.64% | 1.11% |
| Nov 16 | 2.57% | 4.64% | 1.00% |
| Oct 16 | 2.57% | 4.64% | 0.69% |
| Sep 16 | 2.57% | 4.64% | 0.62% |
| Aug 16 | 2.58% | 4.74% | 0.66% |
| Jul 16 | 2.59% | 4.74% | 0.60% |
| Jun 16 | 2.63% | 4.64% | 0.57% |
| May 16 | 2.70% | 4.64% | 0.74% |
| Apr 16 | 2.80% | 4.64% | 0.87% |
| Mar 16 | 2.90% | 4.64% | 0.68% |
| Feb 16 | 2.93% | 4.64% | 0.66% |
| Jan 16 | 2.86% | 4.64% | 0.67% |
| Dec 15 | 2.82% | 4.64% | 0.73% |
| Nov 15 | 2.77% | 4.64% | 0.91% |
| Oct 15 | 2.76% | 4.64% | 0.88% |
| Sep 15 | 2.76% | 4.64% | 0.81% |
| Aug 15 | 2.76% | 4.64% | 0.77% |
| Jul 15 | 2.74% | 4.64% | 0.76% |
| Jun 15 | 2.75% | 4.64% | 0.81% |
| May 15 | 2.75% | 4.64% | 0.88% |
| Apr 15 | 2.80% | 4.64% | 0.98% |
| Mar 15 | 2.87% | 4.74% | 0.77% |
| Feb 15 | 2.96% | 4.74% | 0.73% |
| Jan 15 | 3.09% | 4.79% | 0.61% |
Reading the history
Three things the chart shows
- Posted rates sit far above what people pay. The gap between the dashed posted line and the typical line is the discount most borrowers get, and it is why posted-rate penalties are so large.
- Fixed rates follow bond yields. The 5-year Government of Canada yield moves first; typical fixed rates follow within weeks.
- 2020–2021 was the floor. Many mortgages signed then renew at much higher rates, so payments rise even when today's rate is a good one. Grade the new rate on its own merits on the grader.
Questions people ask
Where do these historical rates come from?
The Bank of Canada's monthly effective interest rates on new residential mortgages at chartered banks, split by insured and uninsured and by term, plus its posted rates, prime and Government of Canada bond yields. Each figure is the value for that month.
Why does my old rate differ from the average?
The average blends every new mortgage that month: different lenders, terms within the bucket, credit files and features. Use it to see whether your rate was in the normal range, not to the hundredth of a point.
How is the renewal payment estimated?
From the amount and amortization you enter: the balance left at the end of your term at your old rate, re-amortized over the remaining years at today's best published rate for a 5-year fixed in your province and insurance class.