Tangerine 5-year variable mortgage rate.
Today’s best 5-year variable in our network is 3.44%. We access Tangerine’s broker-channel pricing — typically 15-30 bps below posted — and compare it across 100+ lenders.
The network’s best 5-year variable rate today is approximately 3.44% through the broker channel — about $2,778/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. The rate you’d be quoted directly is rarely Tangerine’s best — the broker channel typically runs 15-30 bps lower.
The 5-year variable with Tangerine
Tangerine on this term. Tangerine 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 Tangerine's own. For this term we shop your file across the full shelf, Tangerine included, and bring back the sharpest fit.
Who it suits. Borrowers comfortable with some payment movement in exchange for a usually-lower starting rate and a far cheaper break cost. It suits people who might move, refinance, or sell within the term, and those who believe the Bank of Canada's next moves are cuts rather than hikes.
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.
Breaking it early. 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.
How Tangerine prices the broker channel
Scotiabank's online subsidiary (formerly ING Direct Canada). Schedule I bank. Competitive insured mortgage pricing for digitally-comfortable borrowers. Limited branch footprint — almost entirely online + cafe locations.
Tangerine runs two 5-year variable rate sheets: the consumer rate and a wholesale broker-channel rate a licensed brokerage accesses, usually 15-30 bps lower because the broker handles origination. You can’t reach it by approaching Tangerine yourself. On a $700,000 mortgage, 20 bps is roughly $1,400 a year.
- Digital-first borrowers
- Competitive insured pricing
- Scotia backing
- Cafe-style locations
A worked example
On a $700,000 home with 20% down, the mortgage is $560,000. At the network’s best 5-year variable rate of 3.44% over a 25-year amortization, the payment is about $2,778/month. Go to Tangerine yourself at their consumer rate (~15-30 bps higher) and you’d pay $50-100 more a month for the identical mortgage — which is exactly what the broker channel saves. Model your numbers in the payment calculator.
Whatever your situation with Tangerine
We submit to Tangerine'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 — Tangerine or whichever lender prices you lowest.
Refinancing
Unlock equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with Tangerine — most clients beat the first offer by 30-60 bps.
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 Tangerine mortgage
Estimate the IRD or three-months-interest penalty before you switch out of Tangerine.
6 reasons to get Tangerine's 5-year variable through a broker
Why the rate Tangerine quotes you directly is rarely their best 5-year variable — and how the broker channel changes the math.
Access the broker channel
Tangerine'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.
Tangerine and 100+ others compete
We submit your file to Tangerine's broker desk and the rest of the network on one application, so you get Tangerine's best and the market's best side by side.
No bureau pull to start
We can shop your Tangerine 5-year variable rate without a hard credit check, so comparing costs you nothing.
We handle the paperwork
From application to Tangerine's underwriting to funding, we manage the file end-to-end.
Switch or renew without overpaying
At maturity we benchmark Tangerine's renewal/switch offer against the whole market so you never auto-renew high.
Best-rate guarantee
We'll beat any comparable Big-6 5-year variable offer or pay you $500 — keep it, or we'll donate it to your favourite charity — and our advice is free, paid by the funding lender.
Why shop Tangerine through us
- Direct access to Tangerine's broker desk — plus 100+ other lenders on one application.
- Broker-channel pricing 15-30 bps below Tangerine's posted rate.
- One application, every lender — Tangerine's best and the market's best, then you choose.
- FSRA-licensed advice, no bureau pull to start, best-rate guarantee or $500 (you or your charity).