Compare rates from Canada's Big 6 banks and top monoline lenders side-by-side. We negotiate exclusive rates — no middleman, no surprises.
Best 5-Yr Fixed
via Merix Financial
25-yr amortization
Best Variable
via MCAP
Prime − spread
Rate Comparison
16 lenders · Banks, Monolines, Alt Lenders & Credit Unions
Updated April 8, 2026Big Bank Avg
4.92%
Best Lender Avg
4.04%
You Save
0.87%
5-Yr Fixed: Most popular · best long-term certainty
* Rates are indicative and subject to change. Rates shown reflect current market levels as of April 8, 2026. Approval depends on credit profile, property, and lender criteria. Not all rates apply to all borrowers. OAC.
Get My Personalized Rate| Lender | Variable | 1-Yr Fixed | 2-Yr Fixed | 3-Yr Fixed | 4-Yr Fixed | 5-Yr Fixed | |
|---|---|---|---|---|---|---|---|
MX Merix Financial Monoline | 3.45% | 4.99% | 4.44% | 4.09% | 3.99% | 3.89% | Apply → |
MC MCAP Monoline | 3.45% | 4.89% | 4.39% | 4.09% | 3.99% | 3.94% | Apply → |
CML CMLS Financial Monoline | 3.50% | 4.94% | 4.44% | 4.09% | 3.99% | 3.94% | Apply → |
RF Radius Financial Monoline | 3.50% | 4.99% | 4.44% | 4.04% | 3.99% | 3.94% | Apply → |
MER Meridian Credit Union Credit Union | 3.95% | 5.09% | 4.59% | 4.29% | 4.19% | 4.09% | Apply → |
ALT Alterna Savings Credit Union | 3.90% | 5.04% | 4.54% | 4.24% | 4.14% | 4.09% | Apply → |
EQ Equitable Bank Alt Lender | 4.40% | 5.44% | 4.94% | 4.64% | 4.54% | 4.44% | Apply → |
FN First National Monoline | 3.70% | 5.09% | 4.49% | 4.19% | 4.09% | 4.49% | Apply → |
HT Home Trust Alt Lender | 4.45% | 5.49% | 4.99% | 4.69% | 4.59% | 4.49% | Apply → |
NBC National Bank Big Bank | 4.00% | 5.34% | 4.94% | 4.64% | 4.54% | 4.54% | Apply → |
RBC RBC Royal Bank Big Bank | 3.95% | 5.44% | 5.04% | 4.74% | 4.64% | 4.59% | Apply → |
CIBC CIBC Big Bank | 4.05% | 5.44% | 5.04% | 4.74% | 4.64% | 4.64% | Apply → |
CT Community Trust Alt Lender | 4.55% | 5.64% | 5.14% | 4.84% | 4.74% | 4.64% | Apply → |
BMO BMO Big Bank | 4.10% | 5.39% | 4.99% | 4.69% | 4.59% | 4.74% | Apply → |
TD TD Bank Big Bank | 4.24% | 5.49% | 5.09% | 4.79% | 4.69% | 4.89% | Apply → |
NS Scotiabank Big Bank | 4.90% | 5.59% | 5.19% | 4.89% | 4.79% | 6.09% | Apply → |
Rate Trends
5-Year Fixed · Best Monoline vs. Big Bank Average · BoC Prime
Rates Down ~55 bps
Best monoline 5-yr fixed has fallen ~55 bps since April 2025 following four BoC cuts.
Monolines Beat Banks
Monoline lenders offer 65–85 bps below big bank special rates — broker access only.
Lock In Before Apr 29
BoC next rate decision: April 29, 2026. Bond yields rising — fixed rates may move up.
Bank of Canada
Every BoC decision since Jan 2025, upcoming dates, and what each outcome means for variable rate holders.
2.25%
BoC Rate Today
4.45%
Prime Rate
4×
Cuts Since Jan 2025
BoC Holds (60%)
Rates stay put. Variable holders see no change. Fixed rates may drift slightly based on bond market.
BoC Cuts −0.25% (35%)
Prime drops 0.25%. Variable rate payments fall. 5-yr fixed may tighten slightly if bond yields follow.
BoC Raises +0.25% (5%)
Unlikely but possible if inflation re-accelerates. Variable payments rise. Fixed rates likely unaffected near-term.
What each BoC decision means for your payment
BoC Rate vs. Prime Rate
The BoC policy rate is set 8 times/year. Prime is always BoC + 2.20%. Variable mortgages are priced at Prime ± a spread.
Fixed vs. Variable Timing
Fixed rates respond to 5-yr Government of Canada bond yields, not BoC decisions directly. Bond markets often move before BoC acts.
Next Decision: Apr 29, 2026
BoC announces 8 times per year. Variable holders should review renewal options 4–6 months ahead of their maturity date.
Renewal Savings Tool
Enter your current mortgage details to see how much you could save by breaking your mortgage early and switching to today's best available rate.
4 months until renewal
Monthly Savings
per month after switching
Current Monthly Payment
at 5.24%
New Monthly Payment
at 4.19%
Annual Savings
per year once switched
Est. Prepayment Penalty
3-month interest (conservative)
Breakeven Point
Penalty paid off by savings
5-Year Net Benefit
After penalty deducted
* Penalty shown is 3-month interest estimate. Actual penalties may include IRD calculation. Advisor will confirm exact figures.
Private Mortgage Rates
Short-term solutions for bruised credit, non-traditional income, or bridge financing. Private rates are higher but fast — typically close in 5–10 business days.
Who is private financing for?
Private mortgages are ideal for self-employed borrowers, recent credit events (bankruptcy, consumer proposal), bridge financing between purchases, or properties that don't qualify at traditional lenders. They are designed as short-term solutions — typically 6–12 months — before moving to a conventional lender.
| Lender | 0–6 Month | 1 Year | Savings (1yr) |
|---|---|---|---|
CMI CMI Mortgage Investments | 10.49% | 9.99% | -0.50% |
AW Alta West Capital | 10.75% | 10.25% | -0.50% |
FG Fisgard Asset Management | 10.99% | 10.49% | -0.50% |
AM Atrium MIC | 11.25% | 10.75% | -0.50% |
BE Brookstreet Equity Partners | 11.75% | 11.25% | -0.50% |
* Private mortgage rates are subject to lender approval, LTV, property location, and borrower profile. Lender fees (typically 1–3% of the mortgage) apply and are separate from the rate shown. OAC.
Strategy Guide
Private mortgages aren't a dead end — they're a stepping stone. Here's how to use a short-term private mortgage to position yourself for a conventional lender rate in 12–18 months.
Private Mortgage
6–12 months
Get approved based on equity, not income or credit score. Buys you time to rebuild.
Bridge Period
3–6 months
Use this window to repair credit, document income, and save for renewal costs.
Monoline / Bank
Ongoing
You've built the profile. Now qualify at a conventional lender and save thousands per year.
The Numbers
On a $550,000 mortgage over 5 years
10.49%
Private rate
Short-term bridge
4.19%
Monoline rate
After qualifying
$38,500
Annual savings
Once you switch
Recent Bankruptcy / Consumer Proposal
Private window
0–6 months after discharge
Conventional ready
2 years after discharge
Private bridge covers the gap. You exit private when the 2-year window is up.
New Self-Employment
Private window
Year 1 — income hard to prove
Conventional ready
Year 2+ with NOA
Private covers year one. Year two T1/NOA unlocks conventional approval.
Bridge Between Purchases
Private window
Closing gap 30–90 days
Conventional ready
Primary mortgage on new home
Used when you need to close before your existing home sells.
Non-Warrantable Property
Private window
Immediate — any property type
Conventional ready
After renos / title cleared
Rural, mixed-use, or unfinished properties that banks won't touch.
Free Service · No Obligation
Tell us your target rate. We monitor 16 lenders daily and email you the instant it becomes available.
Set Your Rate Alert
30 seconds · Completely free · Unsubscribe anytime
How It Works
Set your target
Pick a term and the rate you want to beat.
We monitor daily
16 lenders checked every morning for rate changes.
Instant email alert
The moment your rate is available, you hear from us.
What clients say
Michael K.
“Got alerted at 4.19% — saved $220/mo vs. what my bank offered.”
16
Lenders monitored
Daily
Rate checks
Free
No cost, ever
1-click
Unsubscribe
Why Greenhouse Mortgage
As an independent mortgage brokerage, we have access to over 30 lenders — including monolines that don't sell directly to the public. We negotiate on your behalf, not the bank's.
Volume Discounts
Our deal volume unlocks rate tiers unavailable to walk-in customers.
30+ Lenders
We shop your file across Canada’s biggest banks, credit unions, and monolines simultaneously.
Lender Pays Us
Our service is free to you — the lender pays our fee. Zero cost to the borrower.
Dedicated Advisor
One expert handles your application start-to-finish, in your time zone.
On a $650,000 mortgage \u00b7 25-yr amortization
Big Bank (4.89%)
$3,716/mo
Total paid
$1,114,800
Greenhouse Rate (4.19%)
$3,496/mo
Total paid
$1,048,800
FAQ
Takes 5 minutes. No obligation. Our advisors will match you with the best rate and lender for your situation.