Mortgage Rates in 2025 – Where Do They Stand?

As of April 2025, mortgage rates among major Canadian lenders generally fall within the following ranges:

• 5-Year Fixed Closed: 4.29% – 4.59%

• 3-Year Fixed Closed: 4.29% – 4.59%

• 5-Year Variable Closed: 4.25% – 4.89%

These rates may seem high compared to pre-2022 levels, but they are relatively stable. With the Bank of Canada holding the key interest rate at 2.75%, there's hope for a cut later in the year if inflation continues to ease.

For prospective buyers, this means monthly payments remain significant—borrowing $800,000 at 4.54% over 25 years results in roughly $4,400/month in mortgage payments. Budgeting wisely is key in this environment.

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Disclaimer:
The information provided in these blog posts is for general informational purposes only and does not constitute financial, legal, or professional advice. Mortgage rates and economic conditions are subject to change. Readers are highly encouraged to consult with licensed professionals before making any real estate or financial decisions.