Guaranteed Loan
Interest Rate Reduction
| Loan term (months) | 12 | 24 | 36 | 48 | 60 | 84 |
|---|---|---|---|---|---|---|
| Interest rate reduction (%) | 0.30 | 0.35 | 0.40 | 0.45 | 0.50 | 0.60 |
History of interest rate reductions
- Banque Canadienne Impériale de Commerce
- Banque de Montréal
- Banque Laurentienne
- Banque Nationale du Canada
- Banque Royale du Canada
- Banque Scotia
- Banque Toronto-Dominion
- Fédération des caisses Desjardins du Québec
Updated on November 15, 2018
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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%.