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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.

Motusbank Mortgage Rates

Rates updated:

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Provider5 Year fixed5 Year variable3 Year fixed

Best market rate


Prime -1.60

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Prime -1.00






Prime -0.70




Prime -0.45




Prime -1.00





Prime -0.86







Prime -0.85




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Motusbank: Frequently asked questions

Are Motusbank rates lower than other banks?

How do I get a mortgage with Motusbank?

Can you negotiate a mortgage rate?

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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.

Author bio

Jamie David

Jamie David is the Business Director of Mortgages at A graduate of the Systems Design Engineering program at the University of Waterloo, she has over 15 years of business, marketing, and engineering experience in the financial technology, banking, education, energy and retail industries. She has worked in top organizations like TD Bank, Trading Pursuits, Petro-Canada, and the TTC. Her passion for personal finance, investing, education, and business strategy brought her to where she heads a very talented, cross-functional team that is dedicated to providing Canadians with the best mortgage experience all the way through from online search to (keys-in-your-hand) funded mortgage.

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How are CanWise Financial and connected?

Both and CanWise Financial are owned and operated by Ratehub Inc. When comparing mortgage rates on, you’ll see rates from a number of lenders and mortgage brokers, including CanWise Financial. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us.

We’re happy to send users to CanWise because of their great rates, trusted advice, and experienced mortgage team. Read any of their 3,300 five-star Google and Facebook reviews and you’ll see what we mean.