Skip to main content
Ratehub logo
Ratehub logo

Prime mortgage rate history

Historical Prime mortgage rate (2000-today)

The Prime rate is the basis for all variable mortgage rates in Canada. If prime increases, your mortgage rate increases. If you'd like to learn more about historical mortgage rates in Canada, you can visit our dedicated landing page in the  preceding link.  

Historical Prime mortgage rates

Historical Prime mortgage rate vs. the overnight rate

The Prime rate is driven by the overnight rate as set by the Bank of Canada. The overnight rate is rate at which banks lend to each other.

Prime vs Overnight Rate

Historical adjustment to Prime rate

Today variable mortgage rates are listed as Prime +/- a constant. This can either be a discount to prime or a premium. We have captured historical values for this adjustment to prime. If you'd like to access the data for the charts you can license it here.

Historical adjustment to Prime rate

The knowledge bank

A wealth of knowledge delivered right to your inbox.

By submitting your email address, you acknowledge and agree to’s Terms of Use and Privacy Policy. Contact us for more information. You can unsubscribe at any time.

Lender Mortgage Rates