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Motusbank Mortgage Rates

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

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Motusbank Mortgage Rates

Rates updated:

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Provider5 Year fixed5 Year variable3 Year fixed



Prime -1.25%




Prime -0.61%




Prime -0.75%




Prime -0.55%




Prime -0.60%




Prime 0.05%




Prime -0.60%


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Motusbank: Frequently asked questions

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motusbank mortgage rates overview

motusbank (styled with all lower-case letters) might be one of the newest players on Canada's mortgage block, but it has plenty of clout thanks in part to its long-standing parent company, Meridian Credit Union.

If you're thinking about getting a mortgage with motusbank, here's everything you need to know about the institution and its mortgage product lineup.

Who is motusbank?

motusbank is a digital-only, full-service bank set up by Meridian Credit Union. While all motusbank banking is handled over the phone or online, customers still have access to the Meridian ATM network.

Being owned by a credit union, motusbank doesn’t have public shareholders as the big banks do. motusbank boasts that this lets them focus on better pricing and services instead of shareholder returns.

motusbank mortgage products

motusbank has a wide range of mortgage products, even for a fully digital bank. Their product lineup includes fixed and variable rate mortgages, open and closed mortgages, and a variety of terms lengths.

Fixed-rate mortgages

motusbank offer closed fixed-rate mortgages with term lengths from 1 to 5 years, all offered with competitive rates. A convertible 6-month fixed-rate mortgage is also available - convertible mortgages can be switched to a longer fixed-term mortgage at no charge. motusbank also offers a 1-year open fixed-rate mortgage, if you want even more flexibility.

Variable-rate mortgages

motusbank offers just one term length for variable-rate mortgages, at 5 years. Because variable-rate mortgages are more flexible and have lower prepayment penalties than fixed-rate mortgages, a single term length is arguably not a big problem. motusbank also offers an open 5-year variable-rate mortgage, if you want even more flexibility (albeit with a higher mortgage rate).

Home Equity Line of Credit

motusbank offers a competitively priced Home Equity Line of Credit (HELOC) that can be attached to their mortgages. A HELOC lets you access the equity you've built up in your home as a revolving line of credit.

How to get a mortgage from motusbank

Getting a mortgage from motusbank can be one in one of two ways: by contacting the bank directly, or through a broker.

Being a digital-only bank, motusbank makes it easy for you to apply online through their website. However, you may be better off speaking to a mortgage broker about your options. Mortgage brokers can negotiate on your behalf, which may result in getting an even lower rate than is on offer. They can also provide you with free expert advice on your mortgage options.

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


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