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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 April 16, 2021

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 .95227 3.8377 Yes 2021-04-01 2021-04-30
4.79000 .63227 4.1577 Yes 2021-03-01 2021-03-31
4.79000 .45173 4.3382 Yes 2021-02-01 2021-02-28
4.79000 .46397 4.3260 Yes 2021-01-01 2021-01-31
4.79000 .43830 4.3517 Yes 2020-12-01 2020-12-31
4.79000 .35758 4.4324 Yes 2020-11-01 2020-11-30
4.79000 .33988 4.4501 Yes 2020-10-01 2020-10-31
4.83354 .34824 4.4853 Yes 2020-09-01 2020-09-30
4.94000 .32984 4.6101 Yes 2020-08-01 2020-08-31
4.96666 .37850 4.5881 Yes 2020-07-01 2020-07-31
5.04000 .38009 4.6599 Yes 2020-06-01 2020-06-30
5.15500 .51139 4.6436 Yes 2020-05-01 2020-05-31
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
4.79000 .95227 3.8377 Yes 2021-04-01 2021-04-30
4.79000 .63227 4.1577 Yes 2021-03-01 2021-03-31
4.79000 .45173 4.3382 Yes 2021-02-01 2021-02-28
4.79000 .46397 4.3260 Yes 2021-01-01 2021-01-31
4.79000 .43830 4.3517 Yes 2020-12-01 2020-12-31
4.79000 .35758 4.4324 Yes 2020-11-01 2020-11-30
4.79000 .33988 4.4501 Yes 2020-10-01 2020-10-31
4.83354 .34824 4.4853 Yes 2020-09-01 2020-09-30
4.94000 .32984 4.6101 Yes 2020-08-01 2020-08-31
4.94000 .37850 4.5615 Yes 2020-07-01 2020-07-31
4.98193 .38009 4.6018 Yes 2020-06-01 2020-06-30
5.04000 .51139 4.5286 Yes 2020-05-01 2020-05-31
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
4.74000 .95227 3.7877 Yes 2021-04-01 2021-04-30
4.74000 .63227 4.1077 Yes 2021-03-01 2021-03-31
4.74000 .45173 4.2882 Yes 2021-02-01 2021-02-28
4.74000 .46397 4.2760 Yes 2021-01-01 2021-01-31
4.74000 .43830 4.3017 Yes 2020-12-01 2020-12-31
4.74000 .35758 4.3824 Yes 2020-11-01 2020-11-30
4.74000 .33988 4.4001 Yes 2020-10-01 2020-10-31
4.76903 .34824 4.4207 Yes 2020-09-01 2020-09-30
4.92548 .32984 4.5956 Yes 2020-08-01 2020-08-31
4.99500 .37850 4.6165 Yes 2020-07-01 2020-07-31
5.49000 .38009 5.1099 Yes 2020-06-01 2020-06-30
5.49000 .51139 4.9786 Yes 2020-05-01 2020-05-31
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
4.79000 .95227 3.8377 Yes 2021-04-01 2021-04-30
4.79000 .63227 4.1577 Yes 2021-03-01 2021-03-31
4.79000 .45173 4.3382 Yes 2021-02-01 2021-02-28
4.79000 .46397 4.3260 Yes 2021-01-01 2021-01-31
4.79000 .43830 4.3517 Yes 2020-12-01 2020-12-31
4.79000 .35758 4.4324 Yes 2020-11-01 2020-11-30
4.79000 .33988 4.4501 Yes 2020-10-01 2020-10-31
4.83838 .34824 4.4901 Yes 2020-09-01 2020-09-30
4.94000 .32984 4.6101 Yes 2020-08-01 2020-08-31
4.94000 .37850 4.5615 Yes 2020-07-01 2020-07-31
5.02387 .38009 4.6437 Yes 2020-06-01 2020-06-30
5.04000 .51139 4.5286 Yes 2020-05-01 2020-05-31
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
4.79000 .95227 3.8377 Yes 2021-04-01 2021-04-30
4.79000 .63227 4.1577 Yes 2021-03-01 2021-03-31
4.79000 .45173 4.3382 Yes 2021-02-01 2021-02-28
4.79000 .46397 4.3260 Yes 2021-01-01 2021-01-31
4.79000 .43830 4.3517 Yes 2020-12-01 2020-12-31
4.79000 .35758 4.4324 Yes 2020-11-01 2020-11-30
4.79000 .33988 4.4501 Yes 2020-10-01 2020-10-31
4.81903 .34824 4.4707 Yes 2020-09-01 2020-09-30
4.94000 .32984 4.6101 Yes 2020-08-01 2020-08-31
4.94000 .37850 4.5615 Yes 2020-07-01 2020-07-31
4.97548 .38009 4.5953 Yes 2020-06-01 2020-06-30
5.04000 .51139 4.5286 Yes 2020-05-01 2020-05-31
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
4.79000 .95227 3.8377 Yes 2021-04-01 2021-04-30
4.79000 .63227 4.1577 Yes 2021-03-01 2021-03-31
4.79000 .45173 4.3382 Yes 2021-02-01 2021-02-28
4.79000 .46397 4.3260 Yes 2021-01-01 2021-01-31
4.79000 .43830 4.3517 Yes 2020-12-01 2020-12-31
4.79000 .35758 4.4324 Yes 2020-11-01 2020-11-30
4.79000 .33988 4.4501 Yes 2020-10-01 2020-10-31
4.79000 .34824 4.4417 Yes 2020-09-01 2020-09-30
4.84806 .32984 4.5182 Yes 2020-08-01 2020-08-31
4.94000 .37850 4.5615 Yes 2020-07-01 2020-07-31
4.96903 .38009 4.5889 Yes 2020-06-01 2020-06-30
4.99000 .51139 4.4786 Yes 2020-05-01 2020-05-31
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
4.59000 .95227 3.6377 Yes 2021-04-01 2021-04-30
4.59000 .63227 3.9577 Yes 2021-03-01 2021-03-31
4.59000 .45173 4.1382 Yes 2021-02-01 2021-02-28
4.59000 .46397 4.1260 Yes 2021-01-01 2021-01-31
4.59000 .43830 4.1517 Yes 2020-12-01 2020-12-31
4.59000 .35758 4.2324 Yes 2020-11-01 2020-11-30
4.59000 .33988 4.2501 Yes 2020-10-01 2020-10-31
4.62225 .34824 4.2740 Yes 2020-09-01 2020-09-30
4.84000 .32984 4.5101 Yes 2020-08-01 2020-08-31
4.84500 .37850 4.4665 Yes 2020-07-01 2020-07-31
4.99000 .38009 4.6099 Yes 2020-06-01 2020-06-30
4.99000 .51139 4.4786 Yes 2020-05-01 2020-05-31
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
4.74000 .95227 3.7877 Yes 2021-04-01 2021-04-30
4.74000 .63227 4.1077 Yes 2021-03-01 2021-03-31
4.74000 .45173 4.2882 Yes 2021-02-01 2021-02-28
4.74000 .46397 4.2760 Yes 2021-01-01 2021-01-31
4.74000 .43830 4.3017 Yes 2020-12-01 2020-12-31
4.74000 .35758 4.3824 Yes 2020-11-01 2020-11-30
4.74000 .33988 4.4001 Yes 2020-10-01 2020-10-31
4.84322 .34824 4.4949 Yes 2020-09-01 2020-09-30
4.94000 .32984 4.6101 Yes 2020-08-01 2020-08-31
4.94000 .37850 4.5615 Yes 2020-07-01 2020-07-31
4.97387 .38009 4.5937 Yes 2020-06-01 2020-06-30
4.99000 .51139 4.4786 Yes 2020-05-01 2020-05-31

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%.