Skip to main content
Ratehub logo
Ratehub logo

Find the best 6-month fixed mortgage rate

We’ll find the best rates for you in less than 2 minutes.

6-month fixed mortgage rates

Rates updated:

  • No Results
These are the best
mortgage rates for
RateTermTypeProvider
Featured
0.5 yearsFixed
Featured
0.5 yearsFixed
Featured
0.5 yearsFixed
Featured
0.5 yearsFixed

How it works

  • Compare the best rates

    Answer a few quick questions and see the lowest rates you can qualify for.

  • Apply online

    Apply for your mortgage instantly and easily using our secure online application.

  • Connect with our mortgage advisors

    Questions or comments? Book a call and one of our mortgage advisors will walk you through all the details

Not sure where to start? Check out our tools to get started

6-month fixed rates: Frequently asked questions

What are 6-month fixed mortgage rates


Are 6-month mortgage rates higher than other rates?


Open vs. closed fixed rates


What are convertible rates?


Check out the best current mortgage rates

Take 2 minutes to answer a few questions and discover the lowest rates available

Want to learn more? Check out our comprehensive education centre

A guide to 6-month fixed mortgage rates

Jamie David

6-month mortgages are not incredibly common in the Canadian market, but they are a great tool for specific situations, especially when some short-term flexibility is required. Read on to understand when a 6-month mortgage term makes sense.

When do you need a 6-month mortgage?

The main use case for a 6-month mortgage term is when you need some short-term flexibility with your mortgage. For example, if you were planning to sell your home in the next six months, a 6-month mortgage term could minimize your exposure to the significant prepayment penalties associated with breaking a mortgage before the term is over. A 6-month mortgage might also be what you need to tie yourself over between two longer mortgage terms if you're not yet ready to commit to your new term.

Pros of a 6-month mortgage

Here are a few of the benefits of taking out a 6-month mortgage:

  • Maximum flexibility
  • Available with open rates for even more flexibility!
  • Often available with the option to convert to a longer term at any time

Cons of a 6-month mortgage

As with all things, 6-month mortgages also have some drawbacks. Here are the main cons of 6-month mortgages to consider:

  • Higher mortgage rates than more traditional mortgage terms
  • Don't allow you to lock in a low rate for a long time

Alternatives to a 6-month mortgage term

If you're looking for an extremely flexible mortgage, then there are a couple of alternatives to a  6-month mortgage term. Firstly, you could opt for an open mortgage rate, of any term length. The downside of this is that open mortgage rates are far more expensive than closed mortgage rates, so this is an expensive option.

The other main alternative to a 6-month mortgage term, assuming you're primarily after flexibility, is to opt for a variable mortgage rate. With a variable mortgage rate, breaking your mortgage early will result in a lower prepayment penalty than you would have received with a fixed rate. 

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 more

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 the place to research and compare the best rates. Get your mortgage at Ratehub.ca and have the best of both worlds – online rates and award-winning customer service.

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 $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada, from online search to close.

How does Ratehub.ca make money?

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.

read more about us