Bank of Canada Policy Rate
2.75%
▬ Held — Last changed March 12, 2026
4.95%
Prime Rate
All Big 6 Banks
4.64%
5-Yr Fixed
Best Available
Jul 30
Next Decision
2026
Prime Rate — All Major Banks
Updated Jun 15, 2026| Institution | Prime Rate | Last Change | Notes |
|---|---|---|---|
| Royal Bank of CanadaRBC | 4.95% | ▬ Mar 12, 2026 | Standard prime |
| TD BankTD | 4.95% | ▬ Mar 12, 2026 | Standard prime |
| Bank of Nova ScotiaBNS | 4.95% | ▬ Mar 12, 2026 | Standard prime |
| Bank of MontrealBMO | 4.95% | ▬ Mar 12, 2026 | Standard prime |
| CIBCCIBC | 4.95% | ▬ Mar 12, 2026 | Standard prime |
| National BankNBC | 4.95% | ▬ Mar 12, 2026 | Standard prime |
Mortgage Rates — Fixed & Variable
Posted vs Best AvailablePosted rates are not what you should pay
Every bank posts a rate. Almost nobody pays it. The gap between a posted rate and what a mortgage broker can negotiate is often 0.5%–1.5% — which over a 25-year amortization can mean $40,000–$80,000 in extra interest. Book a free consultation with VMG →
| Term | Posted Rate | Best Available | Savings |
|---|---|---|---|
| 1-Year Fixed | 6.49% | 5.44%Best | ▼ 1.05% |
| 2-Year Fixed | 6.29% | 5.09%Best | ▼ 1.20% |
| 3-Year Fixed | 5.99% | 4.84%Best | ▼ 1.15% |
| 5-Year Fixed | 5.79% | 4.64%Best | ▼ 1.15% |
| 5-Year Variable | Prime + 1.00% | Prime − 0.50%Best | ▼ 1.50% |
| 10-Year Fixed | 6.25% | 5.59%Best | ▼ 0.66% |
Mortgage Agent Level 2 · Vaughan, Ontario
Don't renew at the bank's posted rate.
Let us negotiate it for you.
Paul Malandrino has 30+ years in the trades and specializes in self-employed borrowers, bank-declined clients, and anyone the big banks overlook. Level 2 licensed — which means commercial lending is on the table too.
FSRA #M25000307
GNE Mortgages Lic. #10394
416-891-8684
HELOC Rates — Home Equity Lines of Credit
Major Lenders · Jun 2026| Lender | Rate | Calculation | Max LTV |
|---|---|---|---|
| RBC Homeline | 6.45% | Prime + 1.50% | 65% |
| TD HELOC | 6.45% | Prime + 1.50% | 65% |
| Scotia STEP | 6.20% | Prime + 1.25% | 65% |
| BMO Homeowner | 6.45% | Prime + 1.50% | 65% |
| Alternative LendersVia VMG | From 5.95% | Prime + 1.00% | Up to 80% |
GIC Rates — Guaranteed Investment Certificates
Non-redeemable · Best Available| Term | Big 6 Banks | Best Available | Provider |
|---|---|---|---|
| 90 Days | 3.25% | 4.50%Best | EQ Bank / Oaken |
| 1 Year | 3.50% | 4.75%Best | EQ Bank / Oaken |
| 2 Year | 3.40% | 4.55%Best | Oaken Financial |
| 3 Year | 3.30% | 4.40%Best | Oaken Financial |
| 5 Year | 3.20% | 4.25%Best | EQ Bank |
High-Interest Savings Rates
HISA · Jun 2026| Institution | Rate | Type | Notes |
|---|---|---|---|
| EQ BankTop Pick | 3.75% | Everyday savings | No fees, CDIC insured |
| Oaken Financial | 3.60% | HISA | Home Trust subsidiary |
| Simplii Financial | 3.25% | HISA | CIBC subsidiary |
| Tangerine | 3.10% | Savings Account | Promo rates available |
| RBC / TD / BMO | 0.01–1.50% | Standard savings | Significantly below best |
Self-employed? The posted rate isn't your rate.
Canadian banks apply risk premiums to self-employed, contractor, and incorporated borrowers — often 0.25%–0.75% above standard rates. A Mortgage Agent Level 2 with lender relationships can access products the public never sees. Talk to VMG — no cost, no obligation →