RateLens, Daniel De Sousa, Mortgage Associate, Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage

5-year fixed

5-year fixed mortgage rates

The most common mortgage in Canada, and the rate every other one gets compared to. You'll see today's rate with its APR, the payment it works out to and the rate you'd be qualified at.

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Today's 5-year fixed

Featured rate
Rate
4.09%
APR
4.14%
Payment on $500,000
$2,655
You’d be qualified at
6.09%
Rate hold
120 days

Rates as of September 21, 2026 at 9:00 a.m. MT, subject to change without notice. O.A.C. Payment assumes a 25-year amortization with monthly payments and excludes property taxes, heat and condominium fees.

Rates as of September 21, 2026 at 9:00 a.m. MT

More than 24 hours old

Prime 4.45% · policy rate 2.25% (held September 2, 2026)

Compare it with our other published rates

We calculate every payment ourselves, on $500,000 over 25 years. The qualifying column is the greater of the contract rate plus 2 percentage points or 5.25%.

3 rates

Filtered by

  • 5 year fixed

    insured
    Rate
    3.89%
    APR
    3.94%
    Payment on $500,000
    $2,600
    You’d qualify at
    5.89%
    Hold this rate

  • 5 year fixed

    insurable
    Rate
    3.99%
    APR
    4.04%
    Payment on $500,000
    $2,627
    You’d qualify at
    5.99%
    Hold this rate

  • 5 year fixed

    uninsured
    Rate
    4.09%
    APR
    4.14%
    Payment on $500,000
    $2,655
    You’d qualify at
    6.09%
    Hold this rate

Rates shown are current as of September 21, 2026 at 9:00 a.m. MT and are subject to change without notice. Rates are available on approved credit (O.A.C.) only, are subject to the terms and conditions of the applicable lender, and may vary based on your credit history, income, down payment or equity, loan-to-value, property type and location, occupancy, amortization, and whether the mortgage is insured, insurable or uninsured.

Annual percentage rates (APR) shown assume a mortgage amount of $500,000, an amortization of 25 years with monthly payments, and include no lender or brokerage fees. Fixed rates are compounded semi-annually, not in advance, as required under section 6 of the federal Interest Act; variable rates are compounded monthly. Payment figures exclude property taxes, heating, condominium fees and default insurance premiums unless stated. Insured rates require mortgage default insurance and are available only on qualifying transactions.

Rates may contain errors or omissions and do not constitute an offer of credit, a rate hold or a pre-approval. Not all applicants will qualify. Contact Daniel De Sousa, Mortgage Associate, to confirm the rate available to you. Daniel De Sousa is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage.

At 4.09%, you’d be qualified at 6.09%

Lenders don’t approve you at the rate you pay. Under OSFI Guideline B-20, they approve you at the minimum qualifying rate: the greater of your contract rate plus 2 percentage points, or 5.25%. It’s the most common reason a pre-approval comes back lower than a buyer expected.

Run the stress test

Who a 5-year fixed suits

A 5-year fixed suits you if you want the same payment in 2031 that you have today, and you're reasonably confident you won't move, refinance or break the mortgage before then. Most Canadian borrowers meet both conditions.

You're trading flexibility for certainty. A fixed rate doesn't move when prime moves, but it's also the term with the most expensive exit. Break a 5-year fixed in year 2 and the penalty is the greater of 3 months of interest or the interest-rate differential (IRD). At a big bank, the IRD is calculated against a posted rate you never paid.

If there's a realistic chance you'll sell, separate, relocate or refinance during the term, a 3-year fixed or a variable often fits better than a 5-year fixed at a slightly lower rate. We'll tell you that before you sign.

Fixed rates follow bond yields

Fixed mortgage rates follow the bond market, specifically the 5-year Government of Canada yield, plus a spread the lender sets for risk and margin. Variable rates follow prime, which follows the Bank of Canada's policy rate. Because they run on different inputs, fixed rates sometimes move a week before an announcement and sometimes don't move at all after one.

So waiting for a rate cut to get a better fixed rate is usually a mistake. By the time a cut is announced, the bond market has normally priced it in and fixed rates have already moved. A rate hold costs nothing and catches the move either way.

Your rate

Why your rate may differ from the one above

The rates on this page are for a clean, standard file. These 5 things change the rate you're offered, and we'll tell you where your file stands before you apply.

  • Your down payment

    Under 20% down means an insured mortgage. Insured mortgages usually get lower rates because the lender's loss is covered, so putting more money down can mean a higher rate.

  • Insured, insurable or uninsured

    Each one is a separate price tier. A refinance can never be insured, so it's always priced in the top tier, no matter how much equity you have.

  • Your amortization

    Going past 25 years moves an insured file into a higher premium band and pushes some files out of the insured tier altogether. A 30-year amortization is available to first-time buyers and on new builds.

  • The property and how you use it

    The benchmark is an owner-occupied detached home in Edmonton. A rental, a second home, an acreage over about 10 acres, a rural water supply or a small condo unit each narrow the list of lenders and usually add to the rate.

  • Your credit and income profile

    Your Beacon score, how long you've had credit, and whether your income is salaried, commission, self-employed or rotational decide which lenders will look at your file. That's what sets the price.

Insurance tiers

Insured, insurable and uninsured mortgages

Every rate on this page falls into one of these 3 tiers. Your down payment, your amortization and what you're using the mortgage for decide which one applies to you. Your tier moves the rate more than almost anything else.

How the three insurance tiers differ
MeasureInsuredInsurableUninsured
Who it’s forUnder 20% down20% or more down on a home under $1.5MEverything else
What it meansYou pay a default insurance premium of 2.80% to 4.00% of the mortgage. It’s added to the balance, so you don’t pay it in cash.You pay no premium, but the lender can still insure the mortgage behind the scenes through a bulk portfolio policy.The mortgage can’t be insured at all. That covers a refinance, a rental, a home over $1.5M, or an amortization over 25 years on a file that doesn’t qualify for the exceptions.
Typical pricingLowerMiddleHigher
Alberta noteAlberta doesn’t charge provincial sales tax on the premium. Ontario, Quebec, Saskatchewan and Manitoba do, and it’s due in cash at closing.No premium, so nothing to tax.No premium, so nothing to tax.

Premium bands: 4.00% at 5–9.99% down, 3.10% at 10–14.99%, 2.80% at 15–19.99%, plus 0.20% where the amortization runs past 25 years. See the default insurance calculator for your own number.

Rate holds

What a rate hold is

A rate hold is a lender's commitment to honour today's rate for a set period (up to 120 days) while you shop, wait for a closing, or count down to your renewal.

It's free

There's no fee and no commitment to that lender. A single credit check through a brokerage won't damage your credit file.

It works one way

If rates fall before you close, you take the lower rate. If they rise, you keep the rate you held.

It isn't an approval

A hold reserves pricing. It doesn't confirm your income, down payment or the property. The pre-approval and then the full application do that.

Hold today’s rate

No credit check, and no commitment.

Brokerage pricing

Why a rate through a brokerage can be lower than a bank branch rate

A brokerage works from a different price list and a wider panel of lenders, and you go through one credit check instead of 5.

  • Banks discount from a posted rate

    A bank branch quotes a posted rate and discounts it only as far as it has to. A brokerage starts from the lender's broker-channel rate, which is already the price the lender competes with.

  • Monolines and credit unions only reach you through a brokerage

    A large part of the Canadian market has no branch network, including monoline lenders and most credit union mortgage products. A brokerage is the only way they get a file, so they compete on rate and terms.

  • One application and one credit check for many lenders

    If you shop 5 banks yourself, that's 5 applications and 5 credit inquiries. One application through Indi Mortgage is one inquiry for 30+ lenders, and it falls inside the mortgage-shopping window that credit bureaus already treat as a single event.

  • We compare the terms as well as the rate

    A very low rate often comes with a costly penalty. If you break the mortgage early, a 0.05% saving can cost you five figures. We show the penalty method next to the rate.

38% of recent Canadian buyers used a broker, and 48% of recent first-time buyers did, according to Mortgage Professionals Canada. The lender that funds your mortgage paysIndi Mortgage, and we tell you which lender and what the arrangement is before you sign anything. Read the compensation disclosure.

Get an email when this rate moves

Pick a target and we’ll email you when our published rate reaches it, or every time it changes. Daniel can also check what lenders are charging today for a file like yours. Renewing? Plan your renewal

Set a rate alert

Today’s 5-year fixed, uninsured rate is 4.09% (4.14% APR), as of September 21, 2026 at 9:00 a.m. MT. We’ll email you when it moves.

Email me

Today it's 4.09%. We'll email you when it's at or below your target.

Rate alert emails

We check once a day after we publish rates and send at most one email per move. We use your email only for these alerts. See our Privacy Policy.

Rate history

Rate history from verified snapshots only

This chart uses our own published rate board, month by month. None of those monthly snapshots has been approved for publication yet, so the chart stays empty until one is. Ask Daniel for current offers and the history behind them.

Questions about these rates

Is a 5-year fixed still the best term in 2026?
It's the most popular term, but that doesn't make it the right one for everyone. A 3-year fixed lets you re-price sooner than a 5-year fixed. Before you choose a term, compare the verified rates available to you and how likely you are to break the mortgage.
Why is the insured 5-year fixed lower than the uninsured one?
Because the lender's risk is covered. On an insured mortgage (less than 20% down, with a CMHC, Sagen or Canada Guaranty premium paid), the lender is made whole if the loan defaults, so it can price lower. That means putting more money down can get you a higher rate. It also means no premium, which is usually the bigger number.
What does the APR column mean next to the rate?
The APR rolls every mandatory cost of the mortgage into one annualized figure, so you can use it to compare two mortgages on the same basis. Alberta's Cost of Credit Disclosure Regulation requires us to show it at least as prominently as the rate. That's why it's the same size and weight as the rate on this page instead of sitting in a footnote.
How long can I hold a 5-year fixed rate?
Up to 120 days with most of our lenders. A hold costs nothing and doesn't commit you to that lender. It works one way: if rates fall before you close, you take the lower rate, and if they rise, you keep the one you held.

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