Skip to main content
Mortgage Squad Advisors
BMO Bank of Montreal logo BMO Bank of Montreal · Big-6 Bank

BMO Bank of Montreal mortgage rates — and how to beat the posted rate.

BMO Bank of Montreal’s broker-channel rate is typically 15-30 bps below the rate you’d see walking into a branch. We access it as an FSRA-licensed brokerage — and compare it against 100+ lenders so you get the best fit, not just one bank’s sheet.

Rates as of Jun 16, 2026 · source: live network feed. Personalized rate depends on your file. O.A.C.
Lender type
Big-6 Bank
Headquarters
Montreal, QC
Established
1817
Products
5+ types
5-year fixed
3.94%
Best in our network
5-year variable
3.60%
Best in our network
3-year fixed
3.84%
Best in our network

How BMO Bank of Montreal’s broker-channel pricing works

Most Canadian lenders, BMO Bank of Montreal included, run two rate sheets: a posted/branch rate quoted to walk-in customers, and a wholesale broker-channel rate offered through licensed mortgage brokers. The broker rate is usually 15-30 bps lower because the broker handles origination, document collection and file packaging — work the lender would otherwise pay branch staff to do.

You can’t access the broker rate by walking into a BMO Bank of Montreal branch — only a licensed brokerage can submit to their broker desk. We do exactly that, then put the same file in front of 100+ other lenders so BMO Bank of Montreal’s offer is benchmarked against the whole market. On a $600,000 mortgage, 20 bps is roughly $1,200 a year in interest — real money over a 5-year term.

Where BMO Bank of Montreal is strong
  • BMO NewStart newcomer program
  • Standard A-lender purchase
  • Strong Quebec presence
  • Bilingual French support
Products BMO Bank of Montreal funds
PurchaseRenewalRefinanceNewcomerHELOC
Full BMO Bank of Montreal reviewBest 5-yr fixed Full live boardPayment calculator

BMO Bank of Montreal mortgage rates — FAQ

What are BMO Bank of Montreal's mortgage rates today?
Lenders run two rate sheets — the posted/branch rate and the broker-channel rate. As an FSRA-licensed brokerage we access BMO Bank of Montreal's broker-channel pricing, typically 15-30 bps below their posted rate. Your exact rate depends on your file (income, credit, LTV, property).
What's the difference between BMO Bank of Montreal's posted rate and the broker rate?
The posted (or "special offer") rate is what you see advertised or quoted in a branch. The broker-channel rate is the wholesale pricing BMO Bank of Montreal offers through licensed brokers — usually 15-30 bps lower because the broker does the origination work. You can only access it through a broker; we submit your file directly to BMO Bank of Montreal's broker desk.
Is BMO Bank of Montreal a good mortgage lender?
Canada's oldest bank. Competitive on standard A-lender purchase and renewal. The BMO NewStart newcomer program is one of the most accessible for PRs and work-permit holders in the Big-6.
Can I get a lower rate than BMO Bank of Montreal's rate?
Sometimes. BMO Bank of Montreal is strong for certain files, but another of our 100+ lenders may price your specific situation better. We compare BMO Bank of Montreal against the whole network on one application — you get BMO Bank of Montreal's best and the market's best, then choose.
Can I switch to BMO Bank of Montreal at renewal?
Yes — switching to BMO Bank of Montreal at maturity is usually penalty-free, and a straight transfer often skips the stress test. We handle the paperwork and confirm BMO Bank of Montreal's renewal/switch pricing against the rest of the market so you don't auto-renew at a higher rate.
Does BMO Bank of Montreal offer rate holds?
Yes — like all major Canadian lenders, BMO Bank of Montreal offers rate holds (typically 90-120 days) for pre-approved borrowers. We can submit your file to BMO Bank of Montreal for a real underwritten pre-approval.
How do I apply for a BMO Bank of Montreal mortgage?
Through a licensed broker you reach BMO Bank of Montreal's broker channel directly. Start a no-obligation application with Mortgage Squad Advisors (FSRA #13737) and we'll submit to BMO Bank of Montreal — and compare it against the rest of the network — with no bureau pull to begin.

Get BMO Bank of Montreal’s best rate — and 100+ others.

One application, no bureau pull to begin. We submit to BMO Bank of Montreal and shop the whole network for your file.

Compare other lenders’ rates
RBC Royal Bank ratesTD Canada Trust ratesScotiabank ratesCIBC ratesNational Bank of Canada ratesCanadian Western Bank ratesLaurentian Bank ratesTangerine ratesMCAP ratesFirst National ratesRFA Mortgage Corporation ratesMerix Financial ratesCMLS Financial ratesManulife Bank rates