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Current Mortgage Rates in Quebec


We shop the most competitive brokers, lenders and banks in Quebec to bring you today's lowest interest rates, free of charge! Our comparison charts list current Quebec rates, and are updated on a daily basis. To compare a certain category, click on the "See All" button for more details.

Rates Updated:  

Closed mortgage rates - Quebec

          Closed mortgage rates Closed mortgage rates are the most popular, standard form in Canada. A closed mortgage simply means you pay off your principal on a pre-determined schedule. If you want to put a lump sum against your principal beyond your pre-payment options, you will incur a penalty.
Term Lowest Fixed
Mortgage Rates
Lowest Variable
Mortgage Rates
1-Year DLC Altitude
DLC Altitude
2.64% Get rate See all rates
2-Year Hypotheca
Hypotheca
2.31% Get rate See all rates
3-Year DLC Altitude
DLC Altitude
2.59% Get rate See all rates DLC Altitude
DLC Altitude
2.60%
Prime - 0.40
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4-Year DLC Altitude
DLC Altitude
2.64% Get rate See all rates
5-Year DLC Altitude
DLC Altitude
2.88% Get rate See all rates DLC Altitude
DLC Altitude
2.30%
Prime - 0.70
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6-Year DLC Altitude
DLC Altitude
3.74% Get rate See all rates
7-Year DLC Altitude
DLC Altitude
3.79% Get rate See all rates
8-Year PC Financial
PC Financial
4.56% Get rate See all rates
9-Year PC Financial
PC Financial
4.67% Get rate See all rates
10-Year Hypotheca
Hypotheca
3.65% Get rate See all rates

HELOC Rates - Quebec

          HELOC Rates A HELOC rate is a variable interest rate on a line of credit that is secured by your home. As the equity in your home grows, you are able to borrow back up to 80% at the HELOC rate.
HELOC        HELOC Rates A HELOC rate is a variable interest rate on a line of credit that is secured by your home. As the equity in your home grows, you are able to borrow back up to 80% at the HELOC rate. DLC Altitude
DLC Altitude
3.50%
Prime + 0.50
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All-in-One        All-in-One HELOC An 'All-in-One' rate is one that combines a HELOC with your savings and deposit accounts. So, any deposits offset your debt in a daily interest calculation. Manulife One
Manulife One
3.50%
Prime + 0.50
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Cash back mortgage - Quebec

          Cash back mortgage A cash back mortgage returns a lump sum, usually 3-7%, when your mortgage closes. If your principal is, for example, $300,000, a 5% cash back would return to you $15,000 when your mortgage closes.
5-Year TD Bank
TD Bank
4.79%
5% Cash Back
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6-Year TD Bank
TD Bank
5.96%
5% Cash Back
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7-Year PC Financial
PC Financial
5.69%
5% Cash Back
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10-Year PC Financial
PC Financial
6.09%
5% Cash Back
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Open mortgage rates - Quebec

          Open mortgage rates Open mortgage rates allow you to pay off as much of your principal as you please whenever you wish, without penalty. Open mortgage rates are less popular than closed mortgage rates, but are often used for a short-term mortgage.
Term Lowest Fixed
Mortgage Rates
Lowest Variable
Mortgage Rates
1-Year DLC Altitude
DLC Altitude
3.80% Get rate See all rates
3-Year DLC Altitude
DLC Altitude
3.80%
Prime + 0.80
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5-Year DLC Altitude
DLC Altitude
3.80%
Prime + 0.80
Get rate See all rates

Bank Mortgage Rates - Quebec

          Bank Mortgage Rates Bank mortgage rates are simply rates offered by the big Canadian banks. You should always compare these against the best available rates on the market.
Term Lowest Fixed
Mortgage Rates
Lowest Variable
Mortgage Rates
1-Year Hypotheca
Hypotheca
2.74% Get rate See all rates
2-Year Hypotheca
Hypotheca
2.31% Get rate See all rates
3-Year Hypotheca
Hypotheca
2.64% Get rate See all rates Laurentian
Laurentian
3.00%
Prime - 0.00
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4-Year Hypotheca
Hypotheca
2.77% Get rate See all rates
5-Year Hypotheca
Hypotheca
2.89% Get rate See all rates Hypotheca
Hypotheca
2.35%
Prime - 0.65
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10-Year Hypotheca
Hypotheca
3.65% Get rate See all rates

Best Mortgage Rates in Quebec

RateHub compares mortgage rates across Quebec to find you the lowest possible mortgage rates in the province. We check mortgage brokers, banks, credit unions, and private mortgage lenders to find you the cheapest mortgage solutions.

Why should I compare mortgage rates in Quebec?


No mortgage is just like another. Depending on which bank, credit union, or private lender created the mortgage – and who it was intended for – the rates, terms, and conditions could be very different. If you want the best mortgage for your special needs you need to understand all of your options.

Should I get an open or closed mortgage rate in Quebec?


Closed and open mortgages differ in their repayment options. In a closed mortgage, payments made above and beyond your regular monthly payment price are restricted to set levels. Closed mortgages often have lower interest rates.

Open mortgages allow borrowers to repay as much of the principal as they choose – at any time. This greater flexibility comes with the price of higher interest rates.

What is the difference between a variable vs. fixed mortgage rate in Quebec?


The popular choice for a mortgage in Quebec is the fixed interest rate mortgage. The fixed interest rate is set for the term of the mortgage without fluctuation. This allows borrowers to know exactly what their mortgage payments will be each month, making household planning stable.

A variable rate mortgage, chosen by approximately one third of all Quebecers, has an interest rate that is tied to prime. As the prime rate fluctuates, so does the mortgage interest rate. This interest rate fluctuation affects the monthly payment. While most variable mortgages have lower interest rates at the start of a mortgage term, they are not as popular as their fixed counterparts because of this instability.

What are prepayment options?


Prepayment options are the terms that define how much of an increase can be made to your monthly mortgage payment, or how large of a lump sum payment is able to be made towards your principal. These increases are based on a set percentage – when payments are made over and above these allowable percentages, interest based penalties will be applied to your mortgage.

What is the mortgage ratehold?


A ratehold allows you to lock into an interest rate for a certain number of days before your mortgage is actually renewed or closed. The renewal date is the date on which the term of mortgage expires, not to be confused with the amortization period. A rate hold allows you to take advantage of favourable rates today, while still taking advantage of possible lower rates closer to your closing date.

Quebec Housing Market Forecast1


Quebec’s economy is growing. This, combined with continued low interest rates, and an increasing population will continue to boost the housing market. Strong consumer spending and investment will increase the economy’s strength and drive job creation up. As the population ages there will be changes in the needs of many households which will increase resale transactions across the province.

 

Metropolitan Area

Year

Housing

Starts

MLS Total

Sales

 MLS Average

Sale Price 

Gatineau

2010

2011(*)

2012(*)

2687

2550

2450

4241

4150

4150 

 $       218,646  

$        225,000  

$        230,000

Montreal

2010

2011(*)

2012(*)

22001

20400

19400

42347

42700

44300

$        297,621  

$        309,000  

$        315,000

Trois-Riveres

2010

2011(*)

2012(*)

1691

825

765 

935

900

900

$        151,937  

$        160,000  

$        165,000

Sherbrooke

2010

2011(*)

2012(*)

1656

1450

1400

1733

1765

1790

$        204,423  

$        208,500  

$        211,500

Quebec

2010

2011(*)

2012(*)

6652

6200

5800

7083

7500

7600

$        237,240  

$        256,000  

$        270,000

Sagunay

2010

2011(*)

2012(*)

783

920

640

1461

1500

1480

$        168,224  

$        180,000  

$        189,000

(*)Forecast

[1] CMHC

Quebec Mortgage Brokers


If you want current, personal advice simply click on the link above to connect with a mortgage broker near you.  Quebec mortgage brokers can help by giving you advice on current mortgage deals, your credit history, or help you with a special type of mortgage like cash back or HELOC. Brokers can also help with information on home purchases, lenders, current interest rates, and great mortgage solutions.