National Bank of Canada 5-year fixed mortgage rate.

National Bank of Canada on this term. National Bank of Canada isn't currently posting a broker-channel 5-year fixed on our rate board, so the rate above is the best 5-year fixed across our 100+ lenders — not National Bank of Canada's own. For this term we shop your file across the full shelf, National Bank of Canada included, and bring back the sharpest fit.

The trade-off. You trade the chance of catching falling rates for total payment certainty.

What drives the rate. The 5-year fixed tracks the 5-year Government of Canada bond yield plus a lender spread. When bond markets expect the economy to slow, the 5-year yield falls and these rates ease even before the Bank of Canada acts — which is why the fixed market often moves ahead of the headlines.

National Bank is Canada's sixth-largest bank and its strength is Quebec: market depth, underwriting flexibility on Quebec-specific files, and French-language service. Outside Quebec its branch network is thin, which is exactly where getting its 5-year fixed through a brokerage rather than a branch is most useful.

The product to understand is the All-in-One — a readvanceable mortgage, similar in spirit to Manulife One, that is collateral-charged and breaks differently from a standard 5-year fixed. On a standard fixed term, National Bank applies posted-rate IRD (we model its 5-year posted rate at 6.79%). Over a full five years that exposure is largest early, when the most months are left for the rate gap to multiply across.

National Bank's annual privilege on our table is 15% of the original principal as a lump sum each year, plus the right to double payments, once per year — up to $84,000 a year on $560,000. Over a long fixed term, using that room steadily is the simplest way to keep a posted-rate penalty smaller if plans change.

It also runs the NBC Newcomer program for new arrivals, so recent immigrants in Quebec in particular should see its 5-year fixed alongside the rest of the market. And since National Bank acquired Canadian Western Bank in 2025, CWB's Western Canada lending — and its Optimum and Bridgewater arms — now sit in the same group; we still compare CWB's rates separately on our board.

Against the other Big-6. On a 5-year fixed, all six big banks use posted-rate IRD, so the method won't separate National Bank; its representative posted rate (6.79%) is the same figure we model for TD and BMO. On prepayment National Bank sits mid-pack at 15% plus double-up — the others: TD (15% lump sum plus double-up), RBC and CIBC (10% lump sum plus double-up), Scotia (15/15), BMO (20/20).

Canada's sixth-largest bank, strongest in Quebec. Competitive newcomer program (NBC Newcomer), good underwriting flexibility on Quebec-specific files, and the All-in-One readvanceable mortgage (similar to Manulife One).

National Bank of Canada runs a consumer 5-year fixed 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.