Today’s Best Mortgage Rates in BC
Compare the lowest mortgage rates available in British Columbia from 50+ lenders — including major banks, credit unions, and monoline lenders. Updated regularly so you always see current pricing.
Updated March 5, 2026 at 5:00 p.m. UTC
Bank of Canada Rate
2.75%
Policy rate
Prime Rate
4.45%
Drives variable rates
5-Year Bond Yield
~3.0%
Drives fixed rates
Next Bank of Canada rate announcement: April 16, 2026 · See rate forecast →
Best Mortgage Rates at a Glance
The lowest rates currently available through a mortgage broker. Your actual rate depends on credit score, property type, and other factors.
Insured
Down payment less than 20%
3-Year Fixed
3.54%
5-Year Fixed
3.69%
5-Year Variable
3.34%
Insurable
20%+ down, purchase under $1M
3-Year Fixed
3.79%
5-Year Fixed
3.94%
5-Year Variable
3.49%
Uninsurable
Refinance, over $1.5M, or 30yr amort
3-Year Fixed
4.04%
5-Year Fixed
4.19%
5-Year Variable
3.69%
Complete Mortgage Rate Comparison
All available terms and mortgage types. Rates shown are the best available through a mortgage broker in BC.
Insured
Down payment less than 20%
Insurable
20%+ down, purchase under $1M
Uninsurable
Refinance, over $1.5M, or 30yr amort
Mortgage rates shown are for well-qualified borrowers and are subject to change without notice. Actual rates depend on your credit score, down payment, property type, and other factors. Rates are updated regularly but may not reflect real-time changes. Contact me for a personalized rate quote based on your specific situation. Aman Nanda is licensed as a mortgage broker with DLC A.I.M.I. Collective Mortgage Group in British Columbia.
Broker Rates vs Big Bank Rates
Compare what the major banks are offering versus what I can get you through my network of 50+ lenders. Learn why broker rates are lower →
TD Canada Trust
RBC Royal Bank
BMO
Scotiabank
CIBC
Through Broker (Best Available)
What does a 1.86% rate difference actually save you?
On a $600,000 mortgage over 25 years, a 1.86% lower rate saves you approximately $2,502/month or $150,120 over a 5-year term. That is money that stays in your pocket instead of going to the bank.
Mortgage Rate Guides & Resources
Deep-dive guides on everything that affects your rate decision.
Fixed vs Variable Rates
Detailed comparison to help you decide which rate type suits your situation.
Mortgage Rate Forecast
Bank of Canada outlook and economist predictions for rate direction.
Mortgage Broker vs Bank
Why broker rates are lower and how the process works differently.
First-Time Buyer Incentives
BC and federal programs that help first-time buyers save thousands.
Mortgage Stress Test
How the qualifying rate works and what it means for your borrowing power.
All Mortgage Resources
Calculators, guides, and tools for every stage of the mortgage process.
Mortgage Rate FAQs
What is the best mortgage rate in BC right now?+
The best 5-year fixed mortgage rate in BC is currently 3.69% for insured mortgages (less than 20% down payment). For insurable mortgages (20%+ down), rates start at 3.94%. Variable rates start at 3.34%. These rates are available through mortgage brokers and are significantly lower than bank posted rates.
Why are broker rates lower than bank rates?+
Mortgage brokers access wholesale rates that banks do not offer to walk-in customers. Banks have higher overhead and less price competition. Brokers create competition by shopping your application to multiple lenders, which drives rates down. The savings typically range from 1.5% to 2.0% compared to bank posted rates.
Should I choose fixed or variable in BC?+
It depends on your risk tolerance and market outlook. Variable rates are currently 3.34%, while the best fixed rate is 3.69%. If the Bank of Canada continues cutting rates, variable could save you more. Fixed rates offer payment certainty. For a detailed comparison, see my fixed vs variable guide.
What credit score do I need for the best rates?+
For the very best rates, you need a credit score of 760 or higher. Scores between 700-759 still qualify for excellent rates. Below 680, you may face limited lender options and higher rates. The minimum score for an insured mortgage is 600.
What is the current prime rate in Canada?+
The current prime rate is 4.45%, which is set by Canadian banks based on the Bank of Canada's policy rate (currently 2.75%). Variable mortgage rates are expressed as prime plus or minus a percentage (e.g., prime minus 1.00%).
How often do mortgage rates change?+
Fixed rates can change daily based on bond yield movements, though most lenders update every few days. Variable rates change when banks adjust their prime rate, typically following Bank of Canada announcements (8 scheduled dates per year). I update the rates on this page regularly.
Can I lock in a rate before finding a home?+
Yes. Most lenders offer rate holds of 90-120 days. This locks in your rate while you search for a property. If rates decrease, you can usually take the lower rate. If rates increase, you are protected at your locked rate.
How do I get started?+
Contact me for a free consultation. I will review your situation, check your credit, and provide personalized rate quotes from multiple lenders. There is no cost or obligation. The process typically takes 15-20 minutes for an initial assessment.
Get Your Personalized Rate Quote
The rates above are starting points. Your actual rate depends on your credit score, down payment, property type, and employment. Contact me for a free, no-obligation quote tailored to your situation.
Get a Free Rate QuoteRelated Calculators
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CMHC Insurance Calculator
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HELOC Calculator
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Property Transfer Tax Calculator
Estimate your BC property transfer tax including first-time buyer exemptions.