Canadian Mortgage Market Report
A live monthly read of the three numbers that move every Canadian mortgage — the Bank of Canada policy rate, chartered-bank prime, and the 5-year bond yield behind fixed rates — updated automatically, with what it means right now.
This month in the Canadian mortgage market
Heading through June 2026, the Bank of Canada’s target for the overnight rate sits at 2.25% (unchanged over the past month), and chartered-bank prime is 4.45% — so a strong variable file prices near 3.45%. Fixed rates anchor to the 5-year Government of Canada bond yield, now 3.02% (down 0.33% on the month), putting a representative 5-year fixed near 4.77%. With the bond drifting lower, fixed rates have room to ease. The Bank’s next scheduled decision is July 29, 2026.
Illustrative rates apply typical spreads (variable ≈ prime − 1.00%; 5-yr fixed ≈ GoC 5-yr yield + 1.75%) and are framing, not rate quotes. Your actual rate depends on your file.
Mortgage Squad Advisors, "Canadian Mortgage Market Report," June 2026. Data: Bank of Canada Valet API. https://www.mortgagesquad.ca/insights/canadian-mortgage-market-report
Journalists & researchers: free to cite with attribution. For commentary from our Principal Broker, contact info@mortgagesquad.ca.
Sources & method: Policy rate, prime, and the 5-year Government of Canada benchmark bond yield are pulled live from the Bank of Canada Valet API and refresh automatically; month-over-month direction compares to roughly 30 days prior. Illustrative mortgage rates apply typical spreads and are framing, not quotes. Interpretation is market context, not advice or a forecast. Reviewed by Mortgage Squad Advisors (FSRA #13737).
Not affiliated with or endorsed by the Bank of Canada.
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