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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

Content last updated: June 4, 2020

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 what mortgage products CIBC offer, 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 looke through, click here to receive personalized quotes from multiple lenders for free. It's only by comparing what lenders will lend to you, personally, that you'll really be able to understand what kind of mortgage is 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 are 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 products enables additional borrowing using the equity in your current home.

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

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 prepayment options

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 30 years, which can improve your cash flow.

CIBC cash back mortgage

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.

Accessing CIBC mortgage rates

CIBC mortgage rates are updated throughout the day 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, 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
  • 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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