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Current Mortgage Rates in Montréal

Browse our aggregated Montréal mortgage rates to find the lowest rates possible. Click “See all” to compare.

Current Montréal Mortgage Rate News

Best Montreal mortgage rates

Montreal mortgage rates are predicted to stay at historic lows consistent with the rest of the nation, but some economists are forecasting rate hikes by the end of 2017. Discounted 5-year variable rates from Canada's big banks are expected to remain close to 2.70% (Prime-0.0%).

Montreal information

Montreal is the second largest city after Toronto and an important hub for commerce, arts, culture and architecture. With a population of over 4 million people, according to Statistics Canada, the city was rated one of the best places to live by the Economist.

The Montreal housing market

Montreal’s housing market is expected to continue experience growing sales and demand, with the average resale MLS® price rising to about $345,000 in 2016 from $337,261 in 2015. The slight increases in employment and household income in Montreal has resulted in a small but positive effect on demand in the city.

For condos, MLS sales have seen a decline over the past year while rental housing has become more popular. Overall, Montreal’s housing market is experiencing growth through rental housing starts, but this growth is offset by the slight declines in new housing starts for single detached houses.

MLS Sales MLS Average Price
2015 18,744 $337,261
2016 forecast 16,000-18,000 $343,000-$348,000
2017 forecast 15,200-18,200 $351,000-$361,000

Montreal mortgage brokers

Locate a mortgage broker in Montreal if you want to purchase a property in the city. Your mortgage broker can negotiate rates for you to make sure you get the best mortgage rate that fits your financial situation.