Our Mortgage Rates

Fixed mortgage rates, at 66% of total mortgages, are most common. However, 34% of mortgages, a significant minority, do have variable rates. Fixed rates are also slightly more popular with younger age groups, while older age groups are more likely to opt for variable rates. Keep in mind that in order to qualify for a variable rate you have to have less debt and more disposable income.
Updated: January 28, 2023
    • Terms
    • Bank Rates
    • Our Rates
    • 1 Year
    • 6.09%
    • 5.99%
    • 2 Years
    • 5.79%
    • 5.74%
    • 3 Years
    • 5.79%
    • 4.99%
    • 4 Years
    • 6.09%
    • 5.24%
    • 5 Years
    • 6.34%
    • 4.64%
    • 10 Years
    • 6.85%
    • 5.99%




Please Note: Advertised rates are not guaranteed and the rate provided by any financial institution listed, or any approval or decline you receive, will be based solely on your personal situation. The advertised rates are provided as guidance only and the accuracy of these rates is not guaranteed. Please speak with us for the most accurate information and to determine your eligibility.

Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. Posted rates may be high ratio and/or quick close which can differ from conventional rates. *O.A.C. E. & O.E.


7 out of 10 people will break their mortgage before it comes up for renewal.
60% of mortgages will be paid out or restructured within 3 years.

Fixed Mortgage Rates

Set mortgage rate based on the lender’s offered interest rate resulting in a consistent payment for the duration of your mortgage term. Set mortgage rates are known as a fixed rates.


Regardless of whether rates rise or fall, your mortgage payment will remain the same and you can budget accordingly.


You can’t take advantage of lower rates that are the result of interest rates dropping unless you break your term contract. Breaking this contract will result in a high penalty which is based on the amount you would pay in the remainder of the contracted term or 3 months interest, whichever amount is higher.

Variable Mortgage Rates

Fluctuating mortgage rate that rises and falls with the Bank of Canada interest rate (prime rate). Usually, the variable rate is either prime rate + % or prime rate – % (ie prime rate – .75)


Examined historically, variable rates have proven to be less expensive over time. As well, the penalty to break a contracted term is usually based on 3 months of interest.


Some consider variable rates to be a more risky approach. You have to qualify for a variable rate. If the prime rate from the Bank of Canada rises, so does your mortgage payment.

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    Vancouver Mortgage Broker Company to us. The content of information that you provided to us for our refinance was absolutely fantastic, couldn’t have been handled any better. We had a couple of glitches that came up but Wrenetta took care of them immediately and brought our stress level back down. I don’t think we have ever had such a smooth flowing experience in attaining a new mortgage. This experience exceeded our expectations. Paul & I are extremely overjoyed and blessed to have worked with this company and especially Wrenetta Sinclair. Wrenetta dealt with every problem immediately and every time I emailed her, I had a response with minutes. We highly recommend Geoff Lee and GLM MORTGAGE GROUP to anyone looking for finance/refinance. Thank you so very much.

    Paul & Betty Makarenko, Beeton Ontario

  • Beat Banks Rate Hands Down

    Geoff was awesome from the get go. Always answered any questions I had regarding the entire process whether… that was by email or phone. My mortgage was approved relatively easily and with a great rate. This mortgage broker beat my banks rate hands down. Thanks again Geoff and GLM. Would definitely use you guys again.

    Greg Wallace, Langley, BC

  • Geoff Knows What He Is Doing

    Geoff knows what he is doing! I met Geoff earlier this year and I have been extremely impressed with…
    his professionalism and dedication to his clients as a mortgage broker. If getting approved by the bank is challenging for you, Geoff can teach you what you need to do to get approved. He’s not about the sale, but helping people understand their options and teaching them what they need to do. If you like to get things done quick and painlessly Geoff at GLM Mortgage Group is your man!

    Rob Torrance, Langley BC

Finding the Best Mortgage Rates

When it comes to buying a home or property, in the majority of cases, you will need to apply for a mortgage to help cover the cost of the house. Mortgages act as large loans which you pay back over a fixed period of time. There are many different types of mortgages to consider, and it is always a good idea to start doing your research early so that you are prepared. You will undoubtedly want to find the best mortgage rates that you are eligible for, and in order to do this, it is a good idea to shop around and see what the options are.

There are a number of different banks, lenders, and mortgage brokers who are available to provide you with accurate quote information as well as the different options you may have for choosing the best mortgage interest rates. For many people looking into the details, mortgages can be overwhelming. This is why it is always a good idea to get in touch with a professional with knowledge on the subject. They will be able to provide more details on the different options that are available as well as help to explain the benefits and drawbacks of each different type of mortgage.

Finding the best mortgage rates can be a tiresome process, but is well worth the extra time. Mortgages can last for many years, getting the best mortgage interest rates available and reasonable payments will be able to help you feel more secure for the length of your mortgage. The main types of mortgages available are fixed rate mortgages, variable rate mortgages, and floating rate mortgages. Each different type has both positive and negative aspects, and will be better for some that others.

When it comes to finding the best rate mortgages for your situation, it is important to know how much money you are going to have to get your mortgage for. This will help you to better determine how much you will be able to afford and how long it will take you to pay it back. How quickly or slowly you are able to pay the mortgage back will have an effect on what type of mortgage will give you the best rate. It is always important to look at your financials before looking into different mortgage types.

If you are flexible with your spending, then you may be able to handle a floating or variable rate mortgage. If you want more security with how much you will be paying on a monthly basis, then a fixed rate mortgage may be the best choice for you. This will give you the exact monthly payment, and it will remain the same throughout the period of the loan. Looking at all of the different choices will give you a chance to find the best mortgage rates that fit you. Utilizing a Canadian mortgage broker is another good way to find out about all your options and get the best mortgage interest rates that you can find.


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