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Bar chart comparing Canadian mortgage and bond rate benchmarks, including the five-year fixed mortgage rate, as of mid-August 2026.

The best available uninsured five-year fixed mortgage rate has climbed to about 4.24%, even though the Bank of Canada's overnight rate has held at 2.25% since October. The gap reflects a five-year Government of Canada bond yield that has risen to roughly 3.20%, its highest level in several weeks, which drives fixed mortgage pricing independent of Bank of Canada policy. Close to a third of Canadian mortgage holders face higher payments by year end, with average increases for five-year fixed renewers projected near 20%.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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