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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 May 25, 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
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
4.89000 1.75592 3.1340 Yes 2017-11-01 2017-11-30
4.86666 1.76225 3.1044 Yes 2017-10-01 2017-10-31
4.79000 1.54945 3.2405 Yes 2017-09-01 2017-09-30
4.79000 1.56603 3.2239 Yes 2017-08-01 2017-08-31
4.79000 1.12086 3.6691 Yes 2017-07-01 2017-07-31
4.79000 1.01530 3.7747 Yes 2017-06-01 2017-06-30
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
5.14000 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
4.88354 1.75592 3.1276 Yes 2017-11-01 2017-11-30
4.84000 1.76225 3.0777 Yes 2017-10-01 2017-10-31
4.84000 1.54945 3.2905 Yes 2017-09-01 2017-09-30
4.84000 1.56603 3.2739 Yes 2017-08-01 2017-08-31
4.84000 1.12086 3.7191 Yes 2017-07-01 2017-07-31
4.84000 1.01530 3.8247 Yes 2017-06-01 2017-06-30
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
5.14000 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
4.88838 1.75592 3.1324 Yes 2017-11-01 2017-11-30
4.84000 1.76225 3.0777 Yes 2017-10-01 2017-10-31
4.80774 1.54945 3.2582 Yes 2017-09-01 2017-09-30
4.74000 1.56603 3.1739 Yes 2017-08-01 2017-08-31
4.74000 1.12086 3.6191 Yes 2017-07-01 2017-07-31
4.74000 1.01530 3.7247 Yes 2017-06-01 2017-06-30
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
5.14000 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
4.89000 1.75592 3.1340 Yes 2017-11-01 2017-11-30
4.84000 1.76225 3.0777 Yes 2017-10-01 2017-10-31
4.83483 1.54945 3.2853 Yes 2017-09-01 2017-09-30
4.74000 1.56603 3.1739 Yes 2017-08-01 2017-08-31
4.74000 1.12086 3.6191 Yes 2017-07-01 2017-07-31
4.74000 1.01530 3.7247 Yes 2017-06-01 2017-06-30
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
5.14666 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
4.95129 1.75592 3.1953 Yes 2017-11-01 2017-11-30
4.75500 1.76225 2.9927 Yes 2017-10-01 2017-10-31
4.64000 1.54945 3.0905 Yes 2017-09-01 2017-09-30
4.64000 1.56603 3.0739 Yes 2017-08-01 2017-08-31
4.64000 1.12086 3.5191 Yes 2017-07-01 2017-07-31
4.64000 1.01530 3.6247 Yes 2017-06-01 2017-06-30
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
5.14000 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
4.94000 1.75592 3.1840 Yes 2017-11-01 2017-11-30
4.85333 1.76225 3.0910 Yes 2017-10-01 2017-10-31
4.84000 1.54945 3.2905 Yes 2017-09-01 2017-09-30
4.67870 1.56603 3.1126 Yes 2017-08-01 2017-08-31
4.64000 1.12086 3.5191 Yes 2017-07-01 2017-07-31
4.64000 1.01530 3.6247 Yes 2017-06-01 2017-06-30
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
5.23000 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
4.96419 1.75592 3.2082 Yes 2017-11-01 2017-11-30
4.92833 1.76225 3.1660 Yes 2017-10-01 2017-10-31
4.84645 1.54945 3.2970 Yes 2017-09-01 2017-09-30
4.76258 1.56603 3.1965 Yes 2017-08-01 2017-08-31
4.64000 1.12086 3.5191 Yes 2017-07-01 2017-07-31
4.64000 1.01530 3.6247 Yes 2017-06-01 2017-06-30
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
5.31500 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
4.93032 1.75592 3.1744 Yes 2017-11-01 2017-11-30
4.84000 1.76225 3.0777 Yes 2017-10-01 2017-10-31
4.82064 1.54945 3.2711 Yes 2017-09-01 2017-09-30
4.74000 1.56603 3.1739 Yes 2017-08-01 2017-08-31
4.74000 1.12086 3.6191 Yes 2017-07-01 2017-07-31
4.74000 1.01530 3.7247 Yes 2017-06-01 2017-06-30

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%.