Mortgage & Market Rates
Live Bank of Canada data, updated automatically — the figures that move Toronto mortgage payments.
Bank of Canada Overnight Rate
The Bank of Canada's target for the overnight rate — the anchor for prime and variable mortgage rates.
as of Sep 17, 2026
Prime Rate
The base rate Canadian banks use to price variable-rate mortgages and lines of credit.
as of Sep 16, 2026
5-Year Bond Yield
The Government of Canada 5-year benchmark bond yield — what lenders watch most closely when pricing fixed mortgages.
as of Sep 17, 2026
5-Year Conventional Mortgage
The posted (non-discounted) rate for a 5-year conventional fixed mortgage.
as of Sep 16, 2026
More benchmark rates
Government of Canada bond yields
Posted conventional mortgage rates
Why fixed rates move
Two different mechanisms drive Canadian mortgage rates, and it helps to know which one you’re watching. The Bank of Canada sets the overnight rate at scheduled announcements throughout the year. Banks price their prime rate directly off that target, and prime is what your variable-rate mortgage or line of credit floats against — when the Bank moves, variable payments move with it almost immediately.
Fixed mortgage rates work differently. Lenders fund fixed mortgages by selling bonds, so fixed rates track the bond market — most closely the 5-year Government of Canada bond yield, since a 5-year fixed mortgage is the most common term in Canada. Bond yields move daily on investors’ expectations for future inflation and growth, which is why a 5-year fixed rate can shift between Bank of Canada meetings — sometimes well before, or after, the overnight rate itself changes.
Source: Bank of Canada. Figures are for general information, update periodically, and are not a rate quote — contact a licensed mortgage professional for rates available to you.
