Laurentian Bank · 5-Year VariableLaurentian Bank 5-year variable mortgage, compared.
Laurentian Bank isn’t posting a broker-channel 5-year variable on our rate board today — the best 5-year variable across our network is 3.00%. We get Laurentian Bank’s broker pricing — typically 15-30 bps below posted — and compare it across 100+ lenders.
How does Laurentian Bank’s 5-year variable compare?
Laurentian Bank isn't currently posting a broker-channel 5-year variable on our rate board, so the rate above is the best 5-year variable across our 100+ lenders — not Laurentian Bank's own. For this term we shop your file across the full shelf, Laurentian Bank included, and bring back the sharpest fit.
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 Laurentian Bank?
About $2,650/month. On a $700,000 home with 20% down, the mortgage is $560,000. That’s at the network’s best 5-year variable rate of 3.00% over a 25-year amortization. At Laurentian Bank’s consumer rate (~15-30 bps higher) the same mortgage costs $50-100 more a month. Model your numbers in the payment calculator.
What a 5-year variable with Laurentian Bank means in practice
Laurentian Bank is a bank outside the Big-6. Breaking a variable typically costs three months' interest at almost any lender, so on a 5-year variable the comparison with Laurentian Bank runs on rate, prepayment room and how the mortgage is registered rather than on penalty method.
More on Laurentian Bank'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 Laurentian Bank price the broker channel?
Quebec-based Schedule I bank with national broker-channel reach via B2B Bank (subsidiary). Standard A-lender residential plus a deep commercial real-estate desk. Strongest market presence in Quebec.
Laurentian Bank's rate sheets and strengths
Laurentian Bank 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 residential
- B2B Bank broker channel
- Commercial real estate
- Bilingual service
Why get Laurentian Bank’s 5-year variable through a broker?
Because the rate Laurentian Bank quotes you directly is rarely its best 5-year variable. We can help you save money.
Access the broker channel
Laurentian Bank'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 Laurentian Bank'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 Laurentian Bank
We submit to Laurentian Bank’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 — Laurentian Bank or whichever lender prices you lowest.
Refinancing
Tap your home equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with Laurentian Bank — 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 Laurentian mortgage
Estimate the IRD or three-months-interest penalty before you switch out of Laurentian Bank.
Laurentian Bank 5-year variable rate — FAQ
What is Laurentian Bank's 5-year variable mortgage rate today?
The best 5-year variable across our 100+ lender network is approximately 3.00% as of Oct 24, 2026. As an FSRA-licensed brokerage we quote Laurentian Bank's broker-channel sheet, typically 15-30 bps below its consumer rate. Your exact rate depends on your file.
How do I get Laurentian Bank's broker-channel 5-year variable rate?
You can't get the broker rate by approaching Laurentian Bank yourself — it's wholesale pricing offered only through licensed brokers. We submit your file directly to Laurentian Bank's broker desk and, on the same application, compare it against the rest of the network so you see Laurentian Bank's best 5-year variable and the market's best side by side.
Is a 5-year variable with Laurentian Bank 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 Laurentian Bank 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. Laurentian Bank'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 Laurentian Bank's?
Sometimes. Another of our 100+ lenders may price your specific 5-year variable better — we put Laurentian Bank and the rest of the network on one application, then you choose.
Get Laurentian Bank’s best 5-year variable — and 100+ others.
One application, no credit pull to begin. We submit to Laurentian Bank and shop the whole network for your file.