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CIBC Mortgage Rates

Rates updated:

Below you will find current CIBC's posted 5-year fixed and variable mortgage rates. Use Ratehub.ca's comparison chart to evaluate other banks, brokerages and lenders against CIBC and ensure you get the best mortgage rate!

CIBC mortgage rates overview

The Canadian Imperial Bank of Commerce (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 the Better than Posted Mortgage, a Convertible Mortgage, the AeroMortgage, the Home Power Mortgage, the Self-Employed Recognition Mortgage, and New Resident and Non-Resident Home Ownership Programs, all outlined below.

CIBC's Better than Posted Mortgage 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.

The Convertible Mortgage is a short-term closed mortgage with a fixed interest rate and the flexibility of converting to a long-term closed mortgage at any time.

The AeroMortgage allows you to turn your mortgage payments into travel and lifestyle rewards.

The Home Power Mortgage enables additional borrowing using the equity in your current home.

The Self-Employed Recognition Mortgage involves a simplified approval process for entrepreneurs or the self-employed.

And finally, CIBC's New Resident and Non-Resident Home Ownership Programs are simplified mortgage approval processes for newcomers to Canada or those looking to invest here.

On standard fixed closed mortgage products, CIBC allows customer to prepay up to 10% of the original principal mortgage amount annually and you can increase your mortgage payments (principal and interest) up to 100% on the original payment amount anytime during the term. Plus, CIBC now offers an extended amortization period of up to 35 years, which can improve your cash flow.

Further, when you select a CIBC mortgage rate of a 5-year fixed closed term, you will have the option to receive cash back 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 when 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.

Use CIBC's Mortgage Resource Centre and interactive CIBC mortgage rate comparison chart in addition to Ratehub.ca's mortgage rate comparison tools.

Accessing CIBC mortgage rates

CIBC mortgage rates are updated every day on its website. You can conveniently access these rates by either filling out an online mortgage application or simply speaking with a CIBC mortgage agent over the phone at 1-800-669-5921. To get started, connect with an authorized CIBC mortgage broker.

CIBC mortgage pre-approval

To obtain pre-approval for a CIBC mortgage, fill out the online application which should only take a few minutes. A CIBC Mortgage Representative will contact you within 3 business days to answer your questions and relay the outcome of your application.

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
  • Purpose for 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 service products and services to almost 11 million individual, small business and 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).

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