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Style Sheet

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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 September 20, 2019

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
5.34000 1.23514 4.1048 Yes 2019-09-01 2019-09-30
5.34000 1.45842 3.8815 Yes 2019-08-01 2019-08-31
5.34000 1.35452 3.9854 Yes 2019-07-01 2019-07-31
5.34000 1.56678 3.7732 Yes 2019-06-01 2019-06-30
5.34000 1.59538 3.7446 Yes 2019-05-01 2019-05-31
5.34000 1.61233 3.7276 Yes 2019-04-01 2019-04-30
5.34000 1.81916 3.5208 Yes 2019-03-01 2019-03-31
5.34000 1.89464 3.4453 Yes 2019-02-01 2019-02-28
5.34000 2.01052 3.3294 Yes 2019-01-01 2019-01-31
5.34000 2.36029 2.9797 Yes 2018-12-01 2018-12-31
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
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
5.19000 1.23514 3.9548 Yes 2019-09-01 2019-09-30
5.30129 1.45842 3.8428 Yes 2019-08-01 2019-08-31
5.34000 1.35452 3.9854 Yes 2019-07-01 2019-07-31
5.34000 1.56678 3.7732 Yes 2019-06-01 2019-06-30
5.34000 1.59538 3.7446 Yes 2019-05-01 2019-05-31
5.34000 1.61233 3.7276 Yes 2019-04-01 2019-04-30
5.34000 1.81916 3.5208 Yes 2019-03-01 2019-03-31
5.34000 1.89464 3.4453 Yes 2019-02-01 2019-02-28
5.34000 2.01052 3.3294 Yes 2019-01-01 2019-01-31
5.34000 2.36029 2.9797 Yes 2018-12-01 2018-12-31
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
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 1.23514 4.2548 Yes 2019-09-01 2019-09-30
5.49000 1.45842 4.0315 Yes 2019-08-01 2019-08-31
5.49000 1.35452 4.1354 Yes 2019-07-01 2019-07-31
5.49000 1.56678 3.9232 Yes 2019-06-01 2019-06-30
5.49000 1.59538 3.8946 Yes 2019-05-01 2019-05-31
5.49000 1.61233 3.8776 Yes 2019-04-01 2019-04-30
5.49000 1.81916 3.6708 Yes 2019-03-01 2019-03-31
5.49000 1.89464 3.5953 Yes 2019-02-01 2019-02-28
5.49000 2.01052 3.4794 Yes 2019-01-01 2019-01-31
5.49000 2.36029 3.1297 Yes 2018-12-01 2018-12-31
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
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
5.19000 1.23514 3.9548 Yes 2019-09-01 2019-09-30
5.19000 1.45842 3.7315 Yes 2019-08-01 2019-08-31
5.28000 1.35452 3.9254 Yes 2019-07-01 2019-07-31
5.34000 1.56678 3.7732 Yes 2019-06-01 2019-06-30
5.34000 1.59538 3.7446 Yes 2019-05-01 2019-05-31
5.34000 1.61233 3.7276 Yes 2019-04-01 2019-04-30
5.34000 1.81916 3.5208 Yes 2019-03-01 2019-03-31
5.34000 1.89464 3.4453 Yes 2019-02-01 2019-02-28
5.34000 2.01052 3.3294 Yes 2019-01-01 2019-01-31
5.34000 2.36029 2.9797 Yes 2018-12-01 2018-12-31
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
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
5.19000 1.23514 3.9548 Yes 2019-09-01 2019-09-30
5.19000 1.45842 3.7315 Yes 2019-08-01 2019-08-31
5.27000 1.35452 3.9154 Yes 2019-07-01 2019-07-31
5.34000 1.56678 3.7732 Yes 2019-06-01 2019-06-30
5.34000 1.59538 3.7446 Yes 2019-05-01 2019-05-31
5.34000 1.61233 3.7276 Yes 2019-04-01 2019-04-30
5.34000 1.81916 3.5208 Yes 2019-03-01 2019-03-31
5.34000 1.89464 3.4453 Yes 2019-02-01 2019-02-28
5.34000 2.01052 3.3294 Yes 2019-01-01 2019-01-31
5.34000 2.36029 2.9797 Yes 2018-12-01 2018-12-31
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
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
5.19000 1.23514 3.9548 Yes 2019-09-01 2019-09-30
5.19000 1.45842 3.7315 Yes 2019-08-01 2019-08-31
5.29000 1.35452 3.9354 Yes 2019-07-01 2019-07-31
5.34000 1.56678 3.7732 Yes 2019-06-01 2019-06-30
5.34000 1.59538 3.7446 Yes 2019-05-01 2019-05-31
5.38516 1.61233 3.7728 Yes 2019-04-01 2019-04-30
5.44000 1.81916 3.6208 Yes 2019-03-01 2019-03-31
5.44000 1.89464 3.5453 Yes 2019-02-01 2019-02-28
5.44000 2.01052 3.4294 Yes 2019-01-01 2019-01-31
5.44000 2.36029 3.0797 Yes 2018-12-01 2018-12-31
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
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
5.34000 1.23514 4.1048 Yes 2019-09-01 2019-09-30
5.34000 1.45842 3.8815 Yes 2019-08-01 2019-08-31
5.34000 1.35452 3.9854 Yes 2019-07-01 2019-07-31
5.34000 1.56678 3.7732 Yes 2019-06-01 2019-06-30
5.34000 1.59538 3.7446 Yes 2019-05-01 2019-05-31
5.42870 1.61233 3.8163 Yes 2019-04-01 2019-04-30
5.59000 1.81916 3.7708 Yes 2019-03-01 2019-03-31
5.59000 1.89464 3.6953 Yes 2019-02-01 2019-02-28
5.59000 2.01052 3.5794 Yes 2019-01-01 2019-01-31
5.59000 2.36029 3.2297 Yes 2018-12-01 2018-12-31
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
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
5.19000 1.23514 3.9548 Yes 2019-09-01 2019-09-30
5.19000 1.45842 3.7315 Yes 2019-08-01 2019-08-31
5.31000 1.35452 3.9554 Yes 2019-07-01 2019-07-31
5.34000 1.56678 3.7732 Yes 2019-06-01 2019-06-30
5.34000 1.59538 3.7446 Yes 2019-05-01 2019-05-31
5.44967 1.61233 3.8373 Yes 2019-04-01 2019-04-30
5.54000 1.81916 3.7208 Yes 2019-03-01 2019-03-31
5.54000 1.89464 3.6453 Yes 2019-02-01 2019-02-28
5.54000 2.01052 3.5294 Yes 2019-01-01 2019-01-31
5.54000 2.36029 3.1797 Yes 2018-12-01 2018-12-31
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

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%.