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1. www.ratehub.ca › best-mortgage-rates › 5-yearBest 5-year variable mortgage rates - Canada mortgage rates ...

   www.ratehub.ca › best-mortgage-rates › 5-year

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   4 days ago · Compare the best 5-year variable mortgage rates from Canadian lenders and banks. Find out the latest trends, insights and forecasts for the housing market and the Bank of Canada.

   • Fixed Rate

     As a result, Canada’s prime rate now sits at 7.2%, which has...

   • Best Mortgage Rates in Canada

     Variable rates are stable. As of: May 16, 2024 5:19 p.m....

2. wowa.ca › best-mortgage-rates › 5-yearBest 5-Year Variable Mortgage Rates in Canada | WOWA.ca

   wowa.ca › best-mortgage-rates › 5-year

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   May 7, 2024 · Compare current 5-year variable mortgage rates from different lenders in Canada and learn how they work. Find out the pros and cons of variable rate mortgages and how to lock in your rate.

3. People also ask

   What is a 5-year variable mortgage rate?

   • As previously mentioned, the 5-year variable mortgage rate will fluctuate with any movements in the prime lending rate, which is the rate at which banks lend to their best and most credit-worthy customers. The variable mortgage rate is typically stated as prime plus/minus a percentage discount/premium.

   Best 5-year variable mortgage rates - Ratehub.ca

   www.ratehub.ca/best-mortgage-rates/5-year/variable

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   What are variable mortgage rates in Canada?

   • Compare three- and five-year variable mortgage rates in Canada to find the right mortgage for your needs. Nerdy Insight: Variable mortgage rates will remain around 6% until the Bank of Canada reduces its overnight rate. After the Bank held the overnight rate at 5% on April 10, that long-awaited rate cut may not come until June at the very earliest.

   The Best Variable Mortgage Rates In Canada - NerdWallet

   www.nerdwallet.com/ca/mortgages/find-the-best-variable-mortgage-rates-in-canada

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   What is a 5 year variable mortgage in Canada?

   • Get Approved for a New Mortgage, 2nd Mortgage, or Refinance. The 5-year variable mortgage is Canada's most popular variable-rate mortgage. It is called a variable-rate mortgage because the rate is based on a lender's Prime rate, and can go up or down throughout the 5 years of the mortgage.

   Best 5-Year Variable Mortgage Rates in Canada | WOWA.ca

   wowa.ca/best-mortgage-rates/5-year/variable

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   What percentage of Canadian Home Loans are variable-rate?

   • Variable-rate mortgages accounted for over half of the home loans originated by Canadian lenders from August through April 2021. In January 2023, after variable rates had risen 400 basis points in the previous 10 months, variable-rate mortgages made up less than 20% of new mortgages.

   The Best Variable Mortgage Rates In Canada - NerdWallet

   www.nerdwallet.com/ca/mortgages/find-the-best-variable-mortgage-rates-in-canada

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4. www.nerdwallet.com › ca › mortgagesThe Best Variable Mortgage Rates In Canada - NerdWallet

   www.nerdwallet.com › ca › mortgages

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   Find the best variable mortgage rates for your needs from alternative and B lenders. Learn the pros and cons of variable rates and how they compare to fixed rates.

   • Email: CAN-legal@nerdwallet.com

5. rates.ca › mortgage-rates › best-variable-rateFind the Best Variable Mortgage Rates in Canada

   rates.ca › mortgage-rates › best-variable-rate

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   May 9, 2024 · Find the best variable mortgage rates from major banks, credit unions and mortgage brokers across Canada. Learn about the pros and cons of variable rates, types of variable mortgages and how they change with prime rate.

6. Videos

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     Are Canada's variable rate mortgages worth the risk amid rate hikes?

     Sep 23, 2023

     37.5K Views

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     2:07

     youtube.com

     Variable, fixed or static: What's the right mortgage to choose in Canada as interest rates rise?

     Aug 12, 2022

     22.5K Views

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     2:07

     globalnews.ca

     Variable? Fixed? Static?: What’s the right mortgage to choose in Canada as interest rates rise?

     Aug 29, 2022

     0 Views

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7. www.forbes.com › advisor › caGuide To Variable-Rate Mortgages – Forbes Advisor Canada

   www.forbes.com › advisor › ca

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   Mar 7, 2024 · According to 2022 figures from the Bank of Canada, approximately 20% of variable-rate mortgages have a variable payment and 80% have a fixed payment. Here’s a closer look at the pros and cons...

   • Is a fixed-rate or variable-rate mortgage best?

     This depends on your own financial situation and what is happening with the wider economy and interest rates. Borrowers who are on a tight budget a...
   • Can I end my variable-rate mortgage early?

     Variable-rate mortgages are likely to have prepayment penalties if you want to break your mortgage contract early for any reason, for example to sw...
   • Why do interest rates change?

     The Bank of Canada uses interest rates to try to control inflation and economic growth. Its Bank rate is the most important interest rate in the Ca...

8. www.nesto.ca › mortgage-rates › variableBest Variable Mortgage Rates in Canada - nesto.ca

   www.nesto.ca › mortgage-rates › variable

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   3 days ago · The average insured bank interest rates in Canada for a 3-year variable and adjustable mortgage are unchanged since last week and now stand at 7.75% . Compared to a month ago, these rates are unchanged.