Variable, Open & Convertible Mortgage Rates: January 21 2009
These rates reflect market conditions at the time the survey was conducted and cannot be construed as an offer by that company.
It is our experience that the major banks in Canada will offer consumers with reasonable crdit scores discounts of 1.2 - 1.3% off of the published 5 year rate. Many banks will match the rate offered by the internet banks or other discount lenders. We highly advise that you consult with us, or, one of the mortgage brokers or bank mortgage reps that we refer our clients to in order to find out the best possible rate in place.
Variable, Open & Convertible Mortgage Rates
| Institution | Updated | Variable | 6 mth Open | 6 mth Convert | 1 yr Open | 1 yr Convert | 2 yr Open |
| ATB Financial | | 21 JAN | 3.50 | 7.70 | | 8.25 | | 8.45 |
| Alterna Bank-Savings | | 21 JAN | 4.50 | 7.80 | | 8.25 | | |
| Bank West | | 21 JAN | | | | | | |
| Bank of Montreal | | 21 JAN | 4.00 | 7.00 | 5.20 | 7.45 | | |
| Bank of Nova Scotia | | 21 JAN | 4.00 | 7.05 | 5.20 | 7.75 | | |
| CIBC | | 21 JAN | 4.50 | 7.25 | 5.20 | 7.45 | | |
| Caisses Desjardins | | 21 JAN | | 7.70 | | 8.25 | | |
| Canadian Tire Bank | | 21 JAN | 4.50 | 7.70 | | | | |
| Canadian Western Bank | | 21 JAN | | 7.70 | 5.90 | 8.25 | | |
| Canadian Western Trust | | 21 JAN | | 7.70 | | | | |
| Citizens Bank | | 21 JAN | | 7.10 | | 7.10 | | |
| Coast Capital Savings CU | | 21 JAN | 5.00 | 6.90 | | 6.70 | | |
| Comtech Credit Union | | 21 JAN | 4.50 | 8.40 | 6.60 | 9.00 | | |
| Concentra Financial | | 21 JAN | | 7.90 | 5.90 | 8.25 | | |
| DUCA Fin. Service C.U. | | 21 JAN | 4.00 | | 5.80 | 7.10 | | |
| Effort Trust | | 21 JAN | | 7.90 | | 8.50 | | |
| Equitable Trust | | 21 JAN | | 7.70 | | 8.25 | | |
| First Calgary Savings | | 21 JAN | 4.50 | 7.70 | | 8.25 | | |
| First National Fin. LP | | 21 JAN | 4.30 | | | | | |
| FirstOntario C.U. | | 21 JAN | 5.25 | 7.70 | 5.20 | 8.30 | | |
| HSBC Bank Canada | | 21 JAN | 4.75 | 7.20 | 5.90 | 8.25 | | |
| Home Trust Company | | 21 JAN | | | 6.90 | | | |
| ICICI Bank Canada | | 21 JAN | 4.50 | | | | | |
| ING Direct | | 21 JAN | 3.80 | | | | | |
| MFL RightMortgage | | 21 JAN | | | | | | |
| MRS Trust | | 21 JAN | | 5.10 | 4.55 | | 4.85 | |
| Macquarie Financial Ltd. | | 21 JAN | | | | | | |
| Manulife Bank | | 21 JAN | 3.75 | | | 5.80 | | |
| Maple Trust | | 21 JAN | | | | | | |
| Meridian Credit Union | | 21 JAN | 5.00 | 7.55 | | 8.10 | | |
| Montreal Trust | | 21 JAN | | 7.05 | 5.20 | 7.75 | | |
| National Bank | | 21 JAN | | 7.90 | | 8.25 | | |
| Ontario Civil Service CU | | 21 JAN | 3.90 | | | | | |
| PACE Savings & C.U. | | 21 JAN | | 7.90 | | 8.25 | | |
| PCCU Financial C.U | | 21 JAN | 5.75 | | | | | |
| Parama Credit Union | | 21 JAN | 5.00 | | | | | |
| President's Choice Finan | | 21 JAN | 3.80 | | 6.99 | | 4.40 | |
| ResMor Trust Company | | 21 JAN | | | | | | |
| Royal Bank | | 21 JAN | 3.80 | 7.00 | 5.20 | 7.15 | | |
| Royal Trust | | 21 JAN | 3.80 | 7.00 | 5.20 | 7.15 | | |
| So-Use Credit Union | | 21 JAN | 5.00 | 8.20 | 6.30 | 8.55 | | |
| Steinbach Credit Union | | 21 JAN | 3.00 | | | | | |
| TD Canada Trust | | 21 JAN | 4.30 | | 5.20 | 7.45 | | |
| Virtual One C.U. | | 21 JAN | | 6.25 |