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Forestry Financing

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 November 19, 2018

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
5.26903 2.41250 2.8565 Yes 2018-11-01 2018-11-30
5.14000 2.26006 2.8799 Yes 2018-10-01 2018-10-31
5.14000 2.23215 2.9078 Yes 2018-09-01 2018-09-30
5.14000 2.11771 3.0222 Yes 2018-08-01 2018-08-31
5.14000 2.10313 3.0368 Yes 2018-07-01 2018-07-31
5.14000 2.24842 2.8915 Yes 2018-06-01 2018-06-30
4.99000 2.12757 2.8624 Yes 2018-05-01 2018-05-31
4.99000 2.05124 2.9387 Yes 2018-04-01 2018-04-30
4.99000 2.12657 2.8634 Yes 2018-03-01 2018-03-31
4.95451 2.03440 2.9201 Yes 2018-02-01 2018-02-28
4.89000 1.77820 3.1118 Yes 2018-01-01 2018-01-31
4.89000 1.67693 3.2130 Yes 2017-12-01 2017-12-31
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
5.34000 2.41250 2.9275 Yes 2018-11-01 2018-11-30
5.31000 2.26006 3.0499 Yes 2018-10-01 2018-10-31
5.19000 2.23215 2.9578 Yes 2018-09-01 2018-09-30
5.19000 2.11771 3.0722 Yes 2018-08-01 2018-08-31
5.19000 2.10313 3.0868 Yes 2018-07-01 2018-07-31
5.18677 2.24842 2.9383 Yes 2018-06-01 2018-06-30
5.14000 2.12757 3.0124 Yes 2018-05-01 2018-05-31
5.14000 2.05124 3.0887 Yes 2018-04-01 2018-04-30
5.14000 2.12657 3.0134 Yes 2018-03-01 2018-03-31
5.06741 2.03440 3.0330 Yes 2018-02-01 2018-02-28
4.99000 1.77820 3.2118 Yes 2018-01-01 2018-01-31
4.99000 1.67693 3.3130 Yes 2017-12-01 2017-12-31
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
5.49000 2.41250 3.0775 Yes 2018-11-01 2018-11-30
5.49000 2.26006 3.2299 Yes 2018-10-01 2018-10-31
5.49000 2.23215 3.2578 Yes 2018-09-01 2018-09-30
5.49000 2.11771 3.3722 Yes 2018-08-01 2018-08-31
5.49000 2.10313 3.3868 Yes 2018-07-01 2018-07-31
5.46258 2.24842 3.2141 Yes 2018-06-01 2018-06-30
5.14000 2.12757 3.0124 Yes 2018-05-01 2018-05-31
5.14000 2.05124 3.0887 Yes 2018-04-01 2018-04-30
5.14000 2.12657 3.0134 Yes 2018-03-01 2018-03-31
5.06741 2.03440 3.0330 Yes 2018-02-01 2018-02-28
4.99000 1.77820 3.2118 Yes 2018-01-01 2018-01-31
4.99000 1.67693 3.3130 Yes 2017-12-01 2017-12-31
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
5.34000 2.41250 2.9275 Yes 2018-11-01 2018-11-30
5.34000 2.26006 3.0799 Yes 2018-10-01 2018-10-31
5.34000 2.23215 3.1078 Yes 2018-09-01 2018-09-30
5.34000 2.11771 3.2222 Yes 2018-08-01 2018-08-31
5.34000 2.10313 3.2368 Yes 2018-07-01 2018-07-31
5.33354 2.24842 3.0851 Yes 2018-06-01 2018-06-30
5.14000 2.12757 3.0124 Yes 2018-05-01 2018-05-31
5.14000 2.05124 3.0887 Yes 2018-04-01 2018-04-30
5.14000 2.12657 3.0134 Yes 2018-03-01 2018-03-31
5.06741 2.03440 3.0330 Yes 2018-02-01 2018-02-28
4.99000 1.77820 3.2118 Yes 2018-01-01 2018-01-31
4.99000 1.67693 3.3130 Yes 2017-12-01 2017-12-31
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
5.34000 2.41250 2.9275 Yes 2018-11-01 2018-11-30
5.34000 2.26006 3.0799 Yes 2018-10-01 2018-10-31
5.34000 2.23215 3.1078 Yes 2018-09-01 2018-09-30
5.34000 2.11771 3.2222 Yes 2018-08-01 2018-08-31
5.34000 2.10313 3.2368 Yes 2018-07-01 2018-07-31
5.34000 2.24842 3.0915 Yes 2018-06-01 2018-06-30
5.14666 2.12757 3.0190 Yes 2018-05-01 2018-05-31
5.14000 2.05124 3.0887 Yes 2018-04-01 2018-04-30
5.14000 2.12657 3.0134 Yes 2018-03-01 2018-03-31
5.09161 2.03440 3.0572 Yes 2018-02-01 2018-02-28
4.99000 1.77820 3.2118 Yes 2018-01-01 2018-01-31
4.99000 1.67693 3.3130 Yes 2017-12-01 2017-12-31
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
5.40451 2.41250 2.9920 Yes 2018-11-01 2018-11-30
5.34000 2.26006 3.0799 Yes 2018-10-01 2018-10-31
5.34000 2.23215 3.1078 Yes 2018-09-01 2018-09-30
5.34000 2.11771 3.2222 Yes 2018-08-01 2018-08-31
5.34000 2.10313 3.2368 Yes 2018-07-01 2018-07-31
5.29483 2.24842 3.0464 Yes 2018-06-01 2018-06-30
5.14000 2.12757 3.0124 Yes 2018-05-01 2018-05-31
5.14000 2.05124 3.0887 Yes 2018-04-01 2018-04-30
5.14000 2.12657 3.0134 Yes 2018-03-01 2018-03-31
5.06741 2.03440 3.0330 Yes 2018-02-01 2018-02-28
4.99000 1.77820 3.2118 Yes 2018-01-01 2018-01-31
4.99000 1.67693 3.3130 Yes 2017-12-01 2017-12-31
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
5.59000 2.41250 3.1775 Yes 2018-11-01 2018-11-30
5.59000 2.26006 3.3299 Yes 2018-10-01 2018-10-31
5.59000 2.23215 3.3578 Yes 2018-09-01 2018-09-30
5.59000 2.11771 3.4722 Yes 2018-08-01 2018-08-31
5.59000 2.10313 3.4868 Yes 2018-07-01 2018-07-31
5.59000 2.24842 3.3415 Yes 2018-06-01 2018-06-30
5.23000 2.12757 3.1024 Yes 2018-05-01 2018-05-31
5.14000 2.05124 3.0887 Yes 2018-04-01 2018-04-30
5.14000 2.12657 3.0134 Yes 2018-03-01 2018-03-31
5.08677 2.03440 3.0523 Yes 2018-02-01 2018-02-28
4.99000 1.77820 3.2118 Yes 2018-01-01 2018-01-31
4.99000 1.67693 3.3130 Yes 2017-12-01 2017-12-31
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
5.54000 2.41250 3.1275 Yes 2018-11-01 2018-11-30
5.50666 2.26006 3.2466 Yes 2018-10-01 2018-10-31
5.49000 2.23215 3.2578 Yes 2018-09-01 2018-09-30
5.49000 2.11771 3.3722 Yes 2018-08-01 2018-08-31
5.49000 2.10313 3.3868 Yes 2018-07-01 2018-07-31
5.49000 2.24842 3.2415 Yes 2018-06-01 2018-06-30
5.31500 2.12757 3.1874 Yes 2018-05-01 2018-05-31
5.14000 2.05124 3.0887 Yes 2018-04-01 2018-04-30
5.14000 2.12657 3.0134 Yes 2018-03-01 2018-03-31
5.05774 2.03440 3.0233 Yes 2018-02-01 2018-02-28
4.99000 1.77820 3.2118 Yes 2018-01-01 2018-01-31
4.99000 1.67693 3.3130 Yes 2017-12-01 2017-12-31

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%.