Skip to main content
Mortgage Squad Advisors
Scotiabank logo Scotiabank · Big-6 Bank

Scotiabank mortgage rates — and how to beat the posted rate.

Scotiabank’s broker-channel rate is typically 15-30 bps below the rate you’d see walking into a branch. We access it as an FSRA-licensed brokerage — and compare it against 100+ lenders so you get the best fit, not just one bank’s sheet.

Rates as of Jun 16, 2026 · source: live network feed. Personalized rate depends on your file. O.A.C.
Lender type
Big-6 Bank
Headquarters
Toronto, ON
Established
1832
Products
6+ types
5-year fixed
3.94%
Best in our network
5-year variable
3.60%
Best in our network
3-year fixed
3.84%
Best in our network
Scotiabank rates across terms — broker-channel best
Term
Type
Rate
APR
2-year fixed
Fixed
4.14%
4.14%
Apply
2-year fixed
Fixed
4.14%
4.14%
Apply
Broker-channel best per term. Your file sets the final rate. O.A.C.

How Scotiabank’s broker-channel pricing works

Most Canadian lenders, Scotiabank included, run two rate sheets: a posted/branch rate quoted to walk-in customers, and a wholesale broker-channel rate offered through licensed mortgage brokers. The broker rate is usually 15-30 bps lower because the broker handles origination, document collection and file packaging — work the lender would otherwise pay branch staff to do.

You can’t access the broker rate by walking into a Scotiabank branch — only a licensed brokerage can submit to their broker desk. We do exactly that, then put the same file in front of 100+ other lenders so Scotiabank’s offer is benchmarked against the whole market. On a $600,000 mortgage, 20 bps is roughly $1,200 a year in interest — real money over a 5-year term.

Where Scotiabank is strong
  • Scotia StartRight newcomer program
  • Investment property mortgages
  • Scotia STEP readvanceable
  • International credit acceptance
Products Scotiabank funds
PurchaseRenewalRefinanceNewcomerInvestmentHELOC
Full Scotiabank reviewBest 5-yr fixed Full live boardPayment calculator

Scotiabank mortgage rates — FAQ

What are Scotiabank's mortgage rates today?
Lenders run two rate sheets — the posted/branch rate and the broker-channel rate. As an FSRA-licensed brokerage we access Scotiabank's broker-channel pricing, typically 15-30 bps below their posted rate. Your exact rate depends on your file (income, credit, LTV, property).
What's the difference between Scotiabank's posted rate and the broker rate?
The posted (or "special offer") rate is what you see advertised or quoted in a branch. The broker-channel rate is the wholesale pricing Scotiabank offers through licensed brokers — usually 15-30 bps lower because the broker does the origination work. You can only access it through a broker; we submit your file directly to Scotiabank's broker desk.
Is Scotiabank a good mortgage lender?
Industry leader on newcomer mortgages via Scotia StartRight — among the most flexible major banks for permanent residents and work-permit holders. Strong investment-property lender with the Scotia STEP readvanceable program.
Can I get a lower rate than Scotiabank's rate?
Sometimes. Scotiabank is strong for certain files, but another of our 100+ lenders may price your specific situation better. We compare Scotiabank against the whole network on one application — you get Scotiabank's best and the market's best, then choose.
Can I switch to Scotiabank at renewal?
Yes — switching to Scotiabank at maturity is usually penalty-free, and a straight transfer often skips the stress test. We handle the paperwork and confirm Scotiabank's renewal/switch pricing against the rest of the market so you don't auto-renew at a higher rate.
Does Scotiabank offer rate holds?
Yes — like all major Canadian lenders, Scotiabank offers rate holds (typically 90-120 days) for pre-approved borrowers. We can submit your file to Scotiabank for a real underwritten pre-approval.
How do I apply for a Scotiabank mortgage?
Through a licensed broker you reach Scotiabank's broker channel directly. Start a no-obligation application with Mortgage Squad Advisors (FSRA #13737) and we'll submit to Scotiabank — and compare it against the rest of the network — with no bureau pull to begin.

Get Scotiabank’s best rate — and 100+ others.

One application, no bureau pull to begin. We submit to Scotiabank and shop the whole network for your file.

Compare other lenders’ rates
RBC Royal Bank ratesTD Canada Trust ratesBMO Bank of Montreal ratesCIBC ratesNational Bank of Canada ratesCanadian Western Bank ratesLaurentian Bank ratesTangerine ratesMCAP ratesFirst National ratesRFA Mortgage Corporation ratesMerix Financial ratesCMLS Financial ratesManulife Bank rates