Best 5-Year Fixed-Rate Mortgages In Canada For September 2023

THINK Financial (True North Mortgage) offers competitive rates, a higher annual prepayment privilege than most institutions (20%) and lower payout penalties for breaking a mortgage contract. People’s Bank has lower rates than the Big Five Banks, Bank of Montreal has the lowest interest rates on 5-year fixed-rate mortgages, Alterna has competitive rates and Bank of China (Canada) offers mortgages across Canada except Quebec. First Nations Bank of Canada is a small institution with better rates than some of its competitors. We reviewed 100 mortgage lenders that do business both online and in-person throughout Canada.