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Quebec Rates

We shop the most competitive brokers, lenders and banks in Canada to bring you today's lowest interest rates, free of charge! Our Canadian comparison charts list current rates, and are updated on a daily basis.

Term Lowest Fixed Rate Lowest Variable Rate
1-Year 2.69%
3-Year 2.69% 3.00%
5-Year 2.54% 2.70%
10-Year 2.99%
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We shop the most competitive brokers, lenders and banks in Canada to bring you today's lowest interest rates, free of charge! Our Canadian comparison charts list current rates, and are updated on a daily basis.

Purchase Price of home - outside of Montreal Marginal Tax Rate
First $50,000 0.5%
On $50,000 to $250,000 1.0%
Over $250,000 1.5%

For homes in Montreal, the rates differ from those listed above as follows:

Purchase price of home - in Montreal Marginal Tax Rate
On $250,000 to $500,000 1.5%
Over $500,000 2.0%

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Mortgage default insurance or CMHC insurance is required in Canada for down payments of less than 20%.


Down payment (% of home)
5%-9.99% 10%-14.99% 15-19.99% 20% or higher
CMHC insurance premium 2.75% 2.00% 1.75% 0.00%

Additional criteria as of July 9th, 2012:

  • The maximum amortization available on an insured mortgage (less than 20% down) is 25 years.
  • Homes sold for more than $1,000,000 do not qualify for CMHC insurance and, therefore, require a down payment of at least 20%.

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Quebec First Time Home Buyer Freebies

  • First time home buyer Tax Credit

    Get $750 dollars back on your personal tax return.

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  • RRSP Home buyers Plan

    Access up to $25,000 from
    your RRSP tax-free.

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Quebec Blog Articles

Charge Cards vs. Credit Cards – What are the Differences?

July 16, 2019

You can swipe, tap or insert a charge card to make everyday purchases and earn rewards, just like a credit card. Charge cards don’t have pre-set spending limits (which means they typically offer more buying power), unlike credit cards that … Continue reading →

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How Much Condo Insurance Do You Really Need?

July 16, 2019

If you just bought a condo, or you’re renting one, you may be wondering how much condo insurance you need. Part of your condo fees is for maintenance and insurance of common or shared areas such as the building’s exterior … Continue reading →

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