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Guaranteed Loan

Interest Rate Reduction

Rate reduction based on loan term
Loan term (months)122436486084
Interest rate reduction (%)0.300.350.400.450.500.60

History of interest rate reductions

Updated on March 29, 2017

Banque Canadienne Impériale de Commerce
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.79000 1.19153 3.5984 Yes 2017-03-01 2017-03-31
4.79000 1.21458 3.5754 Yes 2017-02-01 2017-02-28
4.79000 1.21898 3.5710 Yes 2017-01-01 2017-01-31
4.79000 .93241 3.8575 Yes 2016-12-01 2016-12-31
4.79000 .72426 4.0657 Yes 2016-11-01 2016-11-30
4.79000 .68791 4.1020 Yes 2016-10-01 2016-10-31
4.79000 .65489 4.1351 Yes 2016-09-01 2016-09-30
4.79000 .63613 4.1538 Yes 2016-08-01 2016-08-31
4.79000 .66393 4.1260 Yes 2016-07-01 2016-07-31
4.79000 .78671 4.0032 Yes 2016-06-01 2016-06-30
4.79000 .81808 3.9719 Yes 2016-05-01 2016-05-31
4.79000 .75175 4.0382 Yes 2016-04-01 2016-04-30
Banque de Montréal
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.84000 1.19153 3.6484 Yes 2017-03-01 2017-03-31
4.84000 1.21458 3.6254 Yes 2017-02-01 2017-02-28
4.84000 1.21898 3.6210 Yes 2017-01-01 2017-01-31
4.84000 .93241 3.9075 Yes 2016-12-01 2016-12-31
4.84000 .72426 4.1157 Yes 2016-11-01 2016-11-30
4.86000 .68791 4.1720 Yes 2016-10-01 2016-10-31
4.92709 .65489 4.2722 Yes 2016-09-01 2016-09-30
4.74000 .63613 4.1038 Yes 2016-08-01 2016-08-31
4.74000 .66393 4.0760 Yes 2016-07-01 2016-07-31
4.74000 .78671 3.9532 Yes 2016-06-01 2016-06-30
4.74000 .81808 3.9219 Yes 2016-05-01 2016-05-31
4.74000 .75175 3.9882 Yes 2016-04-01 2016-04-30
Banque Laurentienne
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.74000 1.19153 3.5484 Yes 2017-03-01 2017-03-31
4.74000 1.21458 3.5254 Yes 2017-02-01 2017-02-28
4.74000 1.21898 3.5210 Yes 2017-01-01 2017-01-31
4.74000 .93241 3.8075 Yes 2016-12-01 2016-12-31
4.74000 .72426 4.0157 Yes 2016-11-01 2016-11-30
4.74000 .68791 4.0520 Yes 2016-10-01 2016-10-31
4.74000 .65489 4.0851 Yes 2016-09-01 2016-09-30
4.74000 .63613 4.1038 Yes 2016-08-01 2016-08-31
4.74000 .66393 4.0760 Yes 2016-07-01 2016-07-31
4.74000 .78671 3.9532 Yes 2016-06-01 2016-06-30
4.74000 .81808 3.9219 Yes 2016-05-01 2016-05-31
4.74000 .75175 3.9882 Yes 2016-04-01 2016-04-30
Banque Nationale du Canada
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.74000 1.19153 3.5484 Yes 2017-03-01 2017-03-31
4.74000 1.21458 3.5254 Yes 2017-02-01 2017-02-28
4.74000 1.21898 3.5210 Yes 2017-01-01 2017-01-31
4.74000 .93241 3.8075 Yes 2016-12-01 2016-12-31
4.74000 .72426 4.0157 Yes 2016-11-01 2016-11-30
4.74000 .68791 4.0520 Yes 2016-10-01 2016-10-31
4.74000 .65489 4.0851 Yes 2016-09-01 2016-09-30
4.74000 .63613 4.1038 Yes 2016-08-01 2016-08-31
4.74000 .66393 4.0760 Yes 2016-07-01 2016-07-31
4.74000 .78671 3.9532 Yes 2016-06-01 2016-06-30
4.74000 .81808 3.9219 Yes 2016-05-01 2016-05-31
4.74000 .75175 3.9882 Yes 2016-04-01 2016-04-30
Banque Royale du Canada
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.64000 1.19153 3.4484 Yes 2017-03-01 2017-03-31
4.64000 1.21458 3.4254 Yes 2017-02-01 2017-02-28
4.64000 1.21898 3.4210 Yes 2017-01-01 2017-01-31
4.64000 .93241 3.7075 Yes 2016-12-01 2016-12-31
4.64000 .72426 3.9157 Yes 2016-11-01 2016-11-30
4.64000 .68791 3.9520 Yes 2016-10-01 2016-10-31
4.64000 .65489 3.9851 Yes 2016-09-01 2016-09-30
4.64000 .63613 4.0038 Yes 2016-08-01 2016-08-31
4.64000 .66393 3.9760 Yes 2016-07-01 2016-07-31
4.64000 .78671 3.8532 Yes 2016-06-01 2016-06-30
4.64000 .81808 3.8219 Yes 2016-05-01 2016-05-31
4.64000 .75175 3.8882 Yes 2016-04-01 2016-04-30
Banque Scotia
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.49000 1.19153 3.2984 Yes 2017-03-01 2017-03-31
4.49000 1.21458 3.2754 Yes 2017-02-01 2017-02-28
4.49000 1.21898 3.2710 Yes 2017-01-01 2017-01-31
4.49000 .93241 3.5575 Yes 2016-12-01 2016-12-31
4.49000 .72426 3.7657 Yes 2016-11-01 2016-11-30
4.49000 .68791 3.8020 Yes 2016-10-01 2016-10-31
4.49000 .65489 3.8351 Yes 2016-09-01 2016-09-30
4.49000 .63613 3.8538 Yes 2016-08-01 2016-08-31
4.49000 .66393 3.8260 Yes 2016-07-01 2016-07-31
4.49000 .78671 3.7032 Yes 2016-06-01 2016-06-30
4.49000 .81808 3.6719 Yes 2016-05-01 2016-05-31
4.49000 .75175 3.7382 Yes 2016-04-01 2016-04-30
Banque Toronto-Dominion
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.64000 1.19153 3.4484 Yes 2017-03-01 2017-03-31
4.64000 1.21458 3.4254 Yes 2017-02-01 2017-02-28
4.64000 1.21898 3.4210 Yes 2017-01-01 2017-01-31
4.64000 .93241 3.7075 Yes 2016-12-01 2016-12-31
4.54000 .72426 3.8157 Yes 2016-11-01 2016-11-30
4.54000 .68791 3.8520 Yes 2016-10-01 2016-10-31
4.54000 .65489 3.8851 Yes 2016-09-01 2016-09-30
4.54967 .63613 3.9135 Yes 2016-08-01 2016-08-31
4.64000 .66393 3.9760 Yes 2016-07-01 2016-07-31
4.64000 .78671 3.8532 Yes 2016-06-01 2016-06-30
4.64000 .81808 3.8219 Yes 2016-05-01 2016-05-31
4.64000 .75175 3.8882 Yes 2016-04-01 2016-04-30
Fédération des caisses Desjardins du Québec
Average 5-year mortgage rate1 Average 5-year savings bond rate1 Difference Reduction in applicable rate2 Start of application period End of application period
4.74000 1.19153 3.5484 Yes 2017-03-01 2017-03-31
4.74000 1.21458 3.5254 Yes 2017-02-01 2017-02-28
4.74000 1.21898 3.5210 Yes 2017-01-01 2017-01-31
4.74000 .93241 3.8075 Yes 2016-12-01 2016-12-31
4.74000 .72426 4.0157 Yes 2016-11-01 2016-11-30
4.74000 .68791 4.0520 Yes 2016-10-01 2016-10-31
4.74000 .65489 4.0851 Yes 2016-09-01 2016-09-30
4.74000 .63613 4.1038 Yes 2016-08-01 2016-08-31
4.74000 .66393 4.0760 Yes 2016-07-01 2016-07-31
4.74000 .78671 3.9532 Yes 2016-06-01 2016-06-30
4.74000 .81808 3.9219 Yes 2016-05-01 2016-05-31
4.74000 .75175 3.9882 Yes 2016-04-01 2016-04-30

Notes:

1 For the month preceding the start of the application period.

2 The mortgage interest rate reduction applies if, during the 3 months preceding the month when the rates are set, the monthly difference between the average residential mortgage interest rate for a 5-year term and the average 5-year rate of return on Canadian savings bonds is greater than or equal to 1.75%.