Location Please ensure your location is correct in order to find the best rates available in your area.

Best Mortgage Rates in Quebec

Compare the most current mortgage rates instantly

Looking for a mortgage in Quebec? We help you find and compare the lowest rates from the Big 6 Banks and top Quebec mortgage brokers. By shopping the best rates in Quebec, you could save thousands on your mortgage. Our comparison charts are free to use and list current rates that are updated twice daily.

Rates updated: April 25, 2019 6:13 PM

---

Best Mortgage Rates in Quebec

Ratehub.ca compares mortgage rates across Quebec to find you the lowest possible mortgage rates in the province. We check mortgage brokers, banks, credit unions, and private mortgage lenders to find you the cheapest mortgage solutions.

---

Why should I compare mortgage rates in Quebec?

No mortgage is just like another. Depending on which bank, credit union, or private lender created the mortgage – and who it was intended for – the rates, terms, and conditions could be very different. If you want the best mortgage for your special needs you need to understand all of your options.

---

Should I get an open or closed mortgage rate in Quebec?

Closed and open mortgages differ in their repayment options. In a closed mortgage, payments made above and beyond your regular monthly payment price are restricted to set levels. Closed mortgages often have lower interest rates.

Open mortgages allow borrowers to repay as much of the principal as they choose – at any time. This greater flexibility comes with the price of higher interest rates.

---

What is the difference between a variable vs. fixed mortgage rate in Quebec?

The popular choice for a mortgage in Quebec is the fixed interest rate mortgage. The fixed interest rate is set for the term of the mortgage without fluctuation. This allows borrowers to know exactly what their mortgage payments will be each month, making household planning stable.

A variable rate mortgage, chosen by approximately one third of all Quebecers, has an interest rate that is tied to prime. As the prime rate fluctuates, so does the mortgage interest rate. This interest rate fluctuation affects the monthly payment. While most variable mortgages have lower interest rates at the start of a mortgage term, they are not as popular as their fixed counterparts because of this instability.

---

What are prepayment options?

Prepayment options are the terms that define how much of an increase can be made to your monthly mortgage payment, or how large of a lump sum payment is able to be made towards your principal. These increases are based on a set percentage – when payments are made over and above these allowable percentages, interest based penalties will be applied to your mortgage.

---

What is the mortgage ratehold?

A ratehold allows you to lock into an interest rate for a certain number of days before your mortgage is actually renewed or closed. The renewal date is the date on which the term of mortgage expires, not to be confused with the amortization period . A rate hold allows you to take advantage of favourable rates today, while still taking advantage of possible lower rates closer to your closing date.

---

Quebec Housing Market Forecast¹

Quebec’s economy is growing. This, combined with continued low interest rates, and an increasing population will continue to boost the housing market. Strong consumer spending and investment will increase the economy’s strength and drive job creation up. As the population ages there will be changes in the needs of many households which will increase resale transactions across the province.

Metropolitan Area	Year	Housing Starts	MLS Total Sales	MLS Average Sale Price
Gatineau
	2016(*)	1825	3800	249,700
	2017(*)	1925	3900	$252,950
Montreal
	2016(*)	17,000	39,500	$345,500
	2017(*)	16,700	40,500	$356,000
Sherbrooke
	2016(*)	1150	1775	$232,000
	2017(*)	1200	1850	$236,000
Quebec
	2016(*)	3550	6800	263,000
	2017(*)	3125	7000	$263,000
Sagunay
	2016(*)	500	1200	$180,000
	2017(*)	450	1300	$177,000

---

Quebec Mortgage Brokers

If you want current, personal advice simply click on the link above to connect with a mortgage broker near you. Quebec mortgage brokers can help by giving you advice on current mortgage deals, your credit history, or help you with a special type of mortgage like cash back or HELOC. Brokers can also help with information on home purchases, lenders, current interest rates, and great mortgage solutions.

---

References and Notes

1. CMHC

---

Current Mortgage Rates by Province

• BC Mortgage Rates
• Alberta Mortgage Rates
• Saskatchewan Mortgage Rates
• Manitoba Mortgage Rates
• Ontario Mortgage Rates
• Quebec Mortgage Rates
• New Brunswick Mortgage Rates
• Nova Scotia Mortgage Rates
• PEI Mortgage Rates
• Newfoundland Mortgage Rates
• Yukon Mortgage Rates
• NWT Mortgage Rates
• Nunavut Mortgage Rates