Cost| Policy rate | 2.25% — since 2026-09-11 |
|---|---|
| Prime rate | 4.45% — as of 2026-09-09 |
| Posted 5-year fixed | 6.09% — as of 2026-09-09 |
| 5-year Government of Canada bond | 3.65% — as of 2026-09-11 |
| Stress-test rate at posted | 8.09% — greater of posted + 2 or 5.25% |
The Bank of Canada's policy rate sits at 2.25% as of 2026-09-11, well below the 5.00% peak it reached in 2023. The prime rate most variable mortgages and lines of credit are priced against is 4.45% as of 2026-09-09, and the posted 5-year fixed rate lenders quote is 6.09% as of the same date.
The 5-year Government of Canada bond yield, which fixed mortgage rates tend to track, was 3.65% on 2026-09-11, up from 3.63% the day before. Anyone qualifying for an insured mortgage today is tested against a rate of 8.09% — the posted rate plus 2 percentage points, since that's higher than the 5.25% regulatory floor.
Sources
- Bank of Canada — retrieved 2026-09-14