MCAP · 3-Year FixedMCAP 3-year fixed mortgage rate.
As of May 13, 2026, the best 3-year fixed from MCAP was 3.89% — about $2,912/month on a $700,000 home with 20% down. MCAP prices through brokers only. We compare its sheet against 100+ lenders.
How does MCAP’s 3-year fixed compare?
MCAP publishes a broker-channel 3-year fixed on our rate board, so the 3.89% shown here is MCAP's own best 3-year fixed pricing — not a network average, and it currently sits about 0.05% above the sharpest 3-year fixed across our 100+ lenders, so it's worth comparing before you lock.
The trade-off, and what drives the rate
The trade-off. You give up two years of locked certainty to keep the option of renewing into a lower rate sooner.
What drives the rate. The 3-year fixed follows the 3-year Government of Canada bond. When markets price in rate cuts, the 3-year often sits below the 5-year fixed, letting you lock a payment now and re-shop sooner, closer to the bottom of the cycle.
What would my payment be with MCAP?
About $2,912/month. On a $700,000 home with 20% down, the mortgage is $560,000. That’s at MCAP’s best 3-year fixed rate of 3.89% over a 25-year amortization. MCAP does not lend direct to the public, so this rate only exists through a licensed brokerage — and on the same application we price it against the rest of the network rather than taking it on its own. Model your numbers in the payment calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 3.99% | $2,943/mo |
| 5-Year Variable | — | — |
| 3-Year FixedLowest | 3.89% | $2,912/mo |
| 3-Year Variable | — | — |
| 2-Year Fixed | 4.84% | $3,206/mo |
| 1-Year Fixed | — | — |
| 4-Year Fixed | — | — |
| 7-Year Fixed | — | — |
| 10-Year Fixed | — | — |
What a 3-year fixed with MCAP means in practice
MCAP is a broker-channel monoline that lends through brokers only. That matters on a 3-year fixed because the Big-6 price a fixed-rate break with posted-rate IRD, while lenders off the bank shelf more often use fair, contract-rate IRD — typically far cheaper for the same break. On a shorter fixed term the gap narrows, because the IRD window is smaller. MCAP's commitment and written payout statement are the binding word on its method.
More on MCAP's 3-year fixed: penalties, privileges and programs
MCAP's prepayment privilege on our table: a 20/20 privilege — a 20% annual lump sum and a 20% payment increase (20/20 standard; some commitments cap at 15/15). On a $560,000 mortgage that is up to $112,000 a year.
Against the Big-6. For contrast, all six Big-6 banks price a fixed break with posted-rate IRD, against representative 5-year posted rates of 6.79%-6.84%. Their prepayment room: 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).
How does MCAP price the broker channel?
Canada's largest non-bank mortgage funder. Typically prices 10-25 bps below the Big-6 on insured purchases. The MCAP Eclipse program is one of the few alt-A monoline programs at competitive rates. Broker-channel only.
MCAP's rate sheets and strengths
MCAP has a single 3-year fixed rate sheet and it is wholesale — published to licensed brokers, with no retail counterpart, because origination is the broker’s job rather than a branch network’s. That is why their pricing is often sharp: the cost the Big-6 carry in branches is not in it. On a $700,000 mortgage, 20 bps is roughly $1,400 a year, which is the size of the gap worth shopping for.
- Aggressive insured pricing
- Fair-IRD penalty calculation
- MCAP Eclipse alt-A program
- BFS-friendly full-doc files
Why get MCAP’s 3-year fixed through a broker?
Because MCAP lends through brokers only. We can help you save money.
Access the broker channel
MCAP funds exclusively through the broker channel — there is no branch or website that will sell you this 3-year fixed directly, so a licensed brokerage is the only route to it.
Switch or renew without overpaying
At maturity we benchmark MCAP'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 MCAP
We submit to MCAP’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 — MCAP or whichever lender prices you lowest.
Refinancing
Tap your home equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with MCAP — 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 an MCAP mortgage
Estimate the IRD or three-months-interest penalty before you switch out of MCAP.
MCAP 3-year fixed rate — FAQ
What is MCAP's 3-year fixed mortgage rate today?
MCAP's best 3-year fixed in our network is approximately 3.89% as of May 13, 2026 — about $2,912/month on a $700,000 home with 20% down over 25 years. MCAP publishes to the broker channel only, so as an FSRA-licensed brokerage we access their 3-year fixed sheet directly — there is no consumer rate you could get instead. Your exact rate depends on your file.
How do I get MCAP's broker-channel 3-year fixed rate?
MCAP has no retail channel at all: their rate sheet is wholesale, published to licensed brokers only. We submit your file directly to MCAP's broker desk and, on the same application, compare it against the rest of the network so you see MCAP's best 3-year fixed and the market's best side by side.
What prepayment privileges come with an MCAP 3-year fixed?
For MCAP, our privilege table records a 20/20 privilege — a 20% annual lump sum and a 20% payment increase (20/20 standard; some commitments cap at 15/15). On a $560,000 mortgage that allows up to $112,000 a year in lump sums. Prepaying within the allowance also lowers the balance a later break penalty is calculated on. The exact privilege is set in your commitment letter.
How does breaking an MCAP 3-year fixed work?
Like all fixed terms it uses the greater of three months' interest or IRD, but because the term is shorter the IRD window shrinks faster, so the penalty tends to be smaller than a 5-year fixed's by the back half of the term. 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. MCAP's written payout statement is the only binding number — estimate it first with our mortgage penalty calculator.
Can I get a lower 3-year fixed rate than MCAP's?
Sometimes. Another of our 100+ lenders may price your specific 3-year fixed better — we put MCAP and the rest of the network on one application, then you choose.
Get MCAP’s best 3-year fixed — and 100+ others.
One application, no credit pull to begin. We submit to MCAP and shop the whole network for your file.