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CIBC Mortgage Rates

Below you'll find the best mortgage rates from CIBC. Be sure to compare rates between lenders to get the best product for you.

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CIBC Mortgage Rates

Rates updated:

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Provider5 Year fixed5 Year variable3 Year fixed

4.79%

5.95%

Prime -1.25%

4.99%

5.14%

6.59%

Prime -0.61%

5.65%

5.09%

6.67%

Prime -0.53%

5.36%

5.19%

6.70%

Prime -0.50%

5.29%

5.04%

6.60%

Prime -0.60%

5.64%

5.14%

6.60%

Prime -0.60%

5.86%

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CIBC: Frequently asked questions

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How do I get a mortgage with CIBC?


Can you negotiate a mortgage rate?


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CIBC mortgage rates overview

The Canadian Imperial Bank of Commerce (CIBC) is the smallest of Canada's Big 5 Banks (depending on which metric you use). Like all of the big banks, mortgage lending makes up a large part of CIBC's retail banking operation. While CIBC mortgage rates are certainly competitive with other lenders on the market, it's important to understand the range of mortgage products that CIBC offers in order to understand whether it's the right lender for you.

This page outlines the various mortgage products CIBC has to offer. Once you've had a look through, click here to receive personalized quotes from multiple lenders for free. It's only by comparing what multiple lenders will offer you that you'll really be able to understand what kind of mortgages are available to you.

CIBC mortgage products

CIBC offers standard fixed and variable-rate mortgages with open and closed terms, as well as a range of specialty mortgage products. These specialty products consist of:

  • Better than Posted Mortgage
  • Convertible Mortgage
  • AeroMortgage
  • Home Power Mortgage
  • Self-Employed Recognition Mortgage
  • New Resident and Non-Resident Home Ownership Programs

Each of these CIBC mortgage products is explained in more detail below.

  • Better than Posted Mortgage: This is a fixed-rate mortgage that gives you guaranteed rate reductions on posted rates, without having to negotiate, on 3, 4, 5, 7, or 10-year closed mortgages.
  • Convertible Mortgage: A short-term, closed mortgage with a fixed interest rate and the flexibility of converting to a long-term, closed mortgage at any time.
  • AeroMortgage: This mortgage allows you to turn your mortgage payments into travel and lifestyle rewards.
  • Home Power Mortgage: This product enables additional borrowing using the equity in your current home.
  • Self-Employed Recognition Mortgage: This involves a simplified approval process for entrepreneurs or self-employed people.
  • New Resident and Non-Resident Home Ownership Programs: These are simplified mortgage approval processes for newcomers to Canada, or for those looking to invest in Canada.

CIBC mortgage pre-payment options

On standard fixed-rate closed mortgage products, CIBC allows customers to pre-pay up to 10% of the original principal mortgage amount annually. You can also increase your mortgage payments (principal and interest) up to 100% on the original payment amount at any point during your term.

CIBC cashback mortgage

Further, when you select a CIBC mortgage rate of a 5-year fixed closed term, you will have the option to receive cashback from CIBC to put towards a Regular Investment Plan of your choice, including an RRSP, RESP, TFSA, or Non-Registered investment plan. CIBC also offers a More-for-your-home Mortgage Bundle solution for qualifying mortgages - this lets you open a new (or use an existing) personal CIBC chequing account valued at up to $3,000. The bundle includes up to a $500 cash rebate on your choice of a Home Inspection or Energy Audit by AmeriSpec, plus access to valuable savings on national home-related products and services from AmeriSpec Canada, 500 Aeroplan Miles, and a CMHC Housing Guide and Energy Savings Guide.

Accessing CIBC mortgage rates

CIBC mortgage rates are updated every few minutes on the tables above. You can apply for one of these rates in two ways: You can approach CIBC directly, or you can connect with an authorized CIBC mortgage broker. Working with a broker has the added benefit of getting personalized, expert advice at no cost to you, as well as getting access to a wider range of mortgage products from multiple lenders.

CIBC mortgage application checklist

In addition to figures on your annual income, employment information, existing assets and liabilities and financial history, here is a list of other inputs you will need to fill out your mortgage application and obtain your CIBC mortgage rate:

  • Mortgage amount
  • The purpose of the mortgage (e.g. purchase, refinance, transfer)
  • Purchase price
  • Down payment
  • Property type
  • Dwelling style
  • Builder (if applicable)
  • Property address
  • Annual property taxes
  • Annual condo fees (if applicable)

Compare other CIBC products

CIBC offers various CIBC credit cards, including rewards cards and low-interest cards, as well as CIBC GICs, available in a variety of terms.

More on the Canadian Imperial Bank of Commerce

The Canadian Imperial Bank of Commerce is a leading Canadian-based global financial institution. Through two major operating groups - CIBC Retail Markets and Wholesale Banking - CIBC provides a full range of financial products and services to almost 11 million individual, small business, commercial, corporate, and institutional clients in Canada and around the world. CIBC has over 41,000 employees and 1,069 branches across Canada with more than 3,800 automated banking machines (ABMs).

Jamie David, Director of Marketing and Head of Mortgages

Jamie has 15+ years of business and marketing experience. She contributes her mortgage expertise to The Globe and Mail and authors Ratehub’s mortgage and homebuying guides. read full bio

About Ratehub.ca

Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.

When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.

Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada. 

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Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.

How are CanWise Financial and Ratehub.ca connected?

We own and operate a mortgage brokerage, Ratehub.ca (formerly known as CanWise Financial), and are compensated for mortgages funded through our brokerage. Ratehub Inc. o/a Ratehub.ca & CanWise is a licensed mortgage brokerage and CMHC-approved lender. When comparing mortgage rates on Ratehub.ca, you’ll see rates from a number of lenders, including CanWise. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us. Both Ratehub.ca and CanWise are owned and operated by Ratehub Inc.

We’re proud of our Ratehub.ca mortgage brokerage, which offers our users great rates, trusted advice and an award-winning team of mortgage experts. Read any of our 6,700 five-star Google and Facebook reviews and you’ll see what we mean.

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