Desjardins 5-Year VariableDesjardins 5-year variable mortgage rate.
Today’s best 5-year variable from Desjardins is 3.70%. We access Desjardins’s broker-channel pricing — typically 15-30 bps below posted — and compare it across 100+ lenders.
Desjardins’s best 5-year variable rate today is approximately 3.70% through the broker channel — about $2,855/month on a $700,000 home with 20% down over 25 years. A 5-year variable is the term for borrowers who expect rates flat-to-lower and want the cheapest exit.
Desjardins payments by term
| 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 | — | — |
The 5-year variable with Desjardins
Desjardins on this term. 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 0.26% above the sharpest 5-year variable across our 100+ lenders, so it's worth comparing before you lock.
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 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.
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 Desjardins prices 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 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
A worked example
On a $700,000 home with 20% down, the mortgage is $560,000. At Desjardins’s best 5-year variable rate of 3.70% over a 25-year amortization, the payment is about $2,855/month. 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.
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.
3 reasons to get Desjardins's 5-year variable through a broker
Why the rate Desjardins quotes you directly is rarely their best 5-year variable — and how the broker channel changes the math.
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.
Rate Beat offer (conditions apply)
Rate-beat offer: if you bring a written, current 5-year variable offer from one of the six largest banks for the same product, term and amount, we will try to beat it or pay you $500 (keep it, or we'll donate it to your favourite charity). Conditions apply; see mortgagesquad.ca/rate-beat-guarantee. Our advice is free, paid by the funding lender.
Desjardins 5-year variable rate — FAQ
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Get Desjardins’s best 5-year variable — and 100+ others.
One application, no bureau pull to begin. We submit to Desjardins and shop the whole network for your file.