Desjardins · 5-Year VariableDesjardins 5-year variable mortgage rate.
Today’s best 5-year variable from Desjardins is 3.70% — about $2,855/month on a $700,000 home with 20% down. We get Desjardins’s broker pricing — typically 15-30 bps below posted — and compare it across 100+ lenders.
How does Desjardins’s 5-year variable compare?
Desjardins publishes a broker-channel 5-year variable on our rate board, so the 3.70% shown here is Desjardins's own best 5-year variable pricing — not a network average, and it currently sits about 0.70% above the sharpest 5-year variable across our 100+ lenders, so it's worth comparing before you lock.
The trade-off, and what drives the rate
The trade-off. You accept payment uncertainty in exchange for a cheaper exit and upside if rates fall.
What drives the rate. A 5-year variable moves with your lender's prime rate, which tracks the Bank of Canada's overnight policy rate. When the Bank cuts, your rate (and often your payment) falls within weeks; when it hikes, it rises. The variable-versus-fixed gap (the 'spread') widens and narrows with the market's rate outlook.
What would my payment be with Desjardins?
About $2,855/month. On a $700,000 home with 20% down, the mortgage is $560,000. That’s at Desjardins’s best 5-year variable rate of 3.70% over a 25-year amortization. At Desjardins’s consumer rate (~15-30 bps higher) the same mortgage costs $50-100 more a month. Model your numbers in the payment calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.14% | $2,988/mo |
| 5-Year VariableLowest | 3.70% | $2,855/mo |
| 3-Year Fixed | 4.19% | $3,004/mo |
| 3-Year Variable | — | — |
| 2-Year Fixed | — | — |
| 1-Year Fixed | — | — |
| 4-Year Fixed | 4.14% | $2,988/mo |
| 7-Year Fixed | 4.49% | $3,096/mo |
| 10-Year Fixed | — | — |
What a 5-year variable with Desjardins means in practice
Desjardins is a credit union. Breaking a variable typically costs three months' interest at almost any lender, so on a 5-year variable the comparison with Desjardins runs on rate, prepayment room and how the mortgage is registered rather than on penalty method.
More on Desjardins's 5-year variable: penalties, privileges and programs
Against the Big-6. For contrast, on a Big-6 variable the break is typically also three months' interest; the banks differ on prepayment — TD and National Bank (15% lump sum plus double-up), RBC and CIBC (10% lump sum plus double-up), Scotiabank (15/15), BMO (20/20) — and on registration: most TD mortgages are collateral-charged, as are Scotiabank's STEP, BMO's ReadiLine, CIBC's Home Power Plan and National Bank's All-in-One.
How does Desjardins price the broker channel?
Canada's largest financial cooperative and Quebec's dominant retail lender. Provincially regulated in Quebec; competitive A-lender residential pricing with strong Quebec presence. Operates across Canada via Desjardins Ontario Credit Union.
Desjardins's rate sheets and strengths
Desjardins runs a consumer 5-year variable sheet and a wholesale broker-channel sheet, usually 15-30 bps lower — on a $700,000 mortgage, 20 bps is roughly $1,400 a year.
- Quebec market dominance
- Cooperative ownership model
- Bilingual French service
- Standard A-lender
Why get Desjardins’s 5-year variable through a broker?
Because the rate Desjardins quotes you directly is rarely its best 5-year variable. We can help you save money.
Access the broker channel
Desjardins's broker-channel 5-year variable rate is typically 15-30 bps below the rate you would be quoted directly — and you can only reach it through a licensed brokerage like ours.
Switch or renew without overpaying
At maturity we benchmark Desjardins's renewal/switch offer against the whole market so you never auto-renew high.
Bring us a written offer from a big bank. We’ll try to beat it. If we can’t, we pay you $500. Conditions apply. See the conditions
Whatever your situation with Desjardins
We submit to Desjardins’s broker desk and 100+ other lenders on one application — whichever prices your file lowest wins.
First-time buyers
5% down with FHSA + RRSP HBP optimization — Desjardins or whichever lender prices you lowest.
Refinancing
Tap your home equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with Desjardins — compare the offer against the market.
Self-employed
Business-for-self files priced right across A-lender, alt-A and private.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
Breaking a Desjardins mortgage
Estimate the IRD or three-months-interest penalty before you switch out of Desjardins.
Desjardins 5-year variable rate — FAQ
What is Desjardins's 5-year variable mortgage rate today?
Desjardins's best 5-year variable in our network is approximately 3.70% as of Oct 24, 2026 — about $2,855/month on a $700,000 home with 20% down over 25 years. As an FSRA-licensed brokerage we quote Desjardins's broker-channel sheet, typically 15-30 bps below its consumer rate. Your exact rate depends on your file.
How do I get Desjardins's broker-channel 5-year variable rate?
You can't get the broker rate by approaching Desjardins yourself — it's wholesale pricing offered only through licensed brokers. We submit your file directly to Desjardins's broker desk and, on the same application, compare it against the rest of the network so you see Desjardins's best 5-year variable and the market's best side by side.
Is a 5-year variable with Desjardins a good idea?
You accept payment uncertainty in exchange for a cheaper exit and upside if rates fall. The most popular variable term; its share swings with the rate cycle.
How does breaking a Desjardins 5-year variable work?
The break penalty is only three months' interest, typically a fraction of a fixed mortgage's IRD, which is the single biggest reason mobile or uncertain borrowers choose variable. The method matters as much as the term: the Big-6 banks compare your contract rate against today's posted rate minus the discount you received at signing, while lenders off the bank shelf more often use fair contract-rate IRD, which is typically far cheaper for the same break. Desjardins's written payout statement is the only binding number — estimate it first with our mortgage penalty calculator.
Can I get a lower 5-year variable rate than Desjardins's?
Sometimes. Another of our 100+ lenders may price your specific 5-year variable better — we put Desjardins and the rest of the network on one application, then you choose.
Get Desjardins’s best 5-year variable — and 100+ others.
One application, no credit pull to begin. We submit to Desjardins and shop the whole network for your file.