Canadian Mortgage Rate History
The 10-year story of the two numbers that move every Canadian mortgage — the Bank of Canada policy rate (which drives variable rates) and the 5-year Government of Canada bond yield (which anchors fixed rates). Live, sourced, and free to cite.
How to read this chart
The Bank of Canada policy rate is a step function — it only changes on the Bank’s fixed announcement dates. Prime (and your variable-rate payment) moves almost in lockstep with it, so the flat-then-jump shape is exactly what a variable borrower feels.
The 5-year Government of Canada bond yield trades every day and usually moves aheadof the Bank — it’s the market’s bet on where rates are heading. When the gold line turns, 5-year fixed mortgage rates tend to follow within weeks.
Mortgage Squad Advisors, "Canadian Mortgage Rate History," June 2026. Data: Bank of Canada Valet API. https://www.mortgagesquad.ca/insights/canadian-mortgage-rate-history
Journalists & researchers: free to cite or embed with attribution and a link. For a custom data pull or commentary, contact info@mortgagesquad.ca.
Sources & method: Both series are pulled live from the Bank of Canada Valet API (used under the Bank of Canada terms of use): the Target for the Overnight Rate (series V39079) and the Government of Canada 5-year benchmark bond yield (BD.CDN.5YR.DQ.YLD). Charted monthly over 10 years and refreshed automatically. The bond yield is a proxy for where 5-year fixed mortgage rates anchor, not a mortgage rate itself. Reviewed by Mortgage Squad Advisors (FSRA #13737). Last data point: 2026-06-24.
Not affiliated with or endorsed by the Bank of Canada.
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