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 January 17, 2020
| 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 | 1.61254 | 3.7274 | Yes | 2020-01-01 | 2020-01-31 |
| 5.34000 | 1.50800 | 3.8320 | Yes | 2019-12-01 | 2019-12-31 |
| 5.34000 | 1.46478 | 3.8752 | Yes | 2019-11-01 | 2019-11-30 |
| 5.34000 | 1.37881 | 3.9611 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
| 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 | 1.61254 | 3.5774 | Yes | 2020-01-01 | 2020-01-31 |
| 5.19000 | 1.50800 | 3.6820 | Yes | 2019-12-01 | 2019-12-31 |
| 5.19000 | 1.46478 | 3.7252 | Yes | 2019-11-01 | 2019-11-30 |
| 5.19000 | 1.37881 | 3.8111 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
| 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 | 1.61254 | 3.8774 | Yes | 2020-01-01 | 2020-01-31 |
| 5.49000 | 1.50800 | 3.9820 | Yes | 2019-12-01 | 2019-12-31 |
| 5.49000 | 1.46478 | 4.0252 | Yes | 2019-11-01 | 2019-11-30 |
| 5.49000 | 1.37881 | 4.1111 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
| 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 | 1.61254 | 3.5774 | Yes | 2020-01-01 | 2020-01-31 |
| 5.19000 | 1.50800 | 3.6820 | Yes | 2019-12-01 | 2019-12-31 |
| 5.19000 | 1.46478 | 3.7252 | Yes | 2019-11-01 | 2019-11-30 |
| 5.19000 | 1.37881 | 3.8111 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
| 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 | 1.61254 | 3.5774 | Yes | 2020-01-01 | 2020-01-31 |
| 5.19000 | 1.50800 | 3.6820 | Yes | 2019-12-01 | 2019-12-31 |
| 5.19000 | 1.46478 | 3.7252 | Yes | 2019-11-01 | 2019-11-30 |
| 5.19000 | 1.37881 | 3.8111 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
| 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 | 1.61254 | 3.5774 | Yes | 2020-01-01 | 2020-01-31 |
| 5.19000 | 1.50800 | 3.6820 | Yes | 2019-12-01 | 2019-12-31 |
| 5.19000 | 1.46478 | 3.7252 | Yes | 2019-11-01 | 2019-11-30 |
| 5.19000 | 1.37881 | 3.8111 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
| 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 | 1.61254 | 3.7274 | Yes | 2020-01-01 | 2020-01-31 |
| 5.34000 | 1.50800 | 3.8320 | Yes | 2019-12-01 | 2019-12-31 |
| 5.34000 | 1.46478 | 3.8752 | Yes | 2019-11-01 | 2019-11-30 |
| 5.34000 | 1.37881 | 3.9611 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
| 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 | 1.61254 | 3.5774 | Yes | 2020-01-01 | 2020-01-31 |
| 5.19000 | 1.50800 | 3.6820 | Yes | 2019-12-01 | 2019-12-31 |
| 5.19000 | 1.46478 | 3.7252 | Yes | 2019-11-01 | 2019-11-30 |
| 5.19000 | 1.37881 | 3.8111 | Yes | 2019-10-01 | 2019-10-31 |
| 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 |
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%.