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% |
Anyone renewing a mortgage today is pricing against a posted 5-year fixed rate of 6.09% as of 2026-09-09, and a prime rate of 4.45% on the same date, according to the Bank of Canada. The policy rate behind both is 2.25% as of 2026-09-11, down from its 5.00% peak in 2023.
For context on where fixed pricing is headed, the 5-year Government of Canada bond yield — a leading indicator for fixed rates — was 3.65% on 2026-09-11, up from 3.63% the day before. Anyone renewing into an insured mortgage is still tested at 8.09%, the posted rate plus 2 percentage points, since that exceeds the 5.25% stress-test floor.
Sources
- Bank of Canada — retrieved 2026-09-14