Best 3-year fixed mortgage rates in British Columbia.
Today’s best 3-year fixed rate in British Columbia is 4.04% — about $3,928/month on a $929,619 home with 20% down. A 3-year fixed is the hedge term: certainty without locking in a five-year rate at the top of the cycle.
Who has the best 3-year fixed rate in British Columbia?
Scotiabank, at 4.04%. The lowest rates are usually insured pricing.
Insured vs uninsured: the lowest 3-year fixed rates are usually insured pricing: a purchase with less than 20% down, backed by CMHC, Sagen or Canada Guaranty. Uninsured files (20%+ down, homes over $1.5M, refinances) typically price higher. APR is shown only where the lender publishes one that differs from the rate. Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all British Columbia rates →
What would my payment be?
About $3,928/month. That’s British Columbia’s average price of $929,619 with 20% down ($185,924), a $743,695 mortgage at today’s best 3-year fixed rate of 4.04%, over 25 years with Canadian semi-annual compounding. That payment is locked for the full term. Model your own price in the payment calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.19% | $3,989/mo |
| 5-Year VariableLowest | 3.00% | $3,520/mo |
| 3-Year Fixed | 4.04% | $3,928/mo |
| 3-Year Variable | 3.55% | $3,733/mo |
| 2-Year Fixed | 3.99% | $3,908/mo |
| 1-Year Fixed | 4.19% | $3,989/mo |
| 4-Year Fixed | 4.14% | $3,969/mo |
| 7-Year Fixed | 4.99% | $4,321/mo |
| 10-Year Fixed | 5.29% | $4,449/mo |
What does a 3-year fixed cost on a typical British Columbia home?
With the minimum down ($67,962), you pay about $4,733/month and $103,902 in interest over the 3-year term. Lenders test your income at 6.04%.
See the full 3-year cost: down payment, insurance, interest and balance
Worked on British Columbia’s average price of $929,619 (Average MLS® residential price, British Columbia Real Estate Association) at today’s best 3-year fixed rate of 4.04%, a 25-year amortization and Canadian semi-annual compounding. The term figures cover the 3-year term only.
| Minimum down (insured) | 20% down (uninsured) | |
|---|---|---|
| Down payment | $67,962 (7.3%) | $185,924 (20.0%) |
| Default insurance premium (added to the mortgage) | $34,466 | None |
| Mortgage amount | $896,123 | $743,695 |
| Monthly payment | $4,733/mo | $3,928/mo |
| Interest paid over the 3-year term | $103,902 | $86,228 |
| Principal repaid over the term | $66,495 | $55,184 |
| Balance owing at renewal (year 3) | $829,628 | $688,511 |
| Payment you must qualify at (6.04% stress-test rate) | $5,755/mo | $4,776/mo |
BC Property Transfer Tax (PTT) on this price: $16,592. Paid in cash at closing, on top of the down payment.
Qualifying: lenders test your income at 6.04% (the higher of your rate + 2% or 5.25%), not at 4.04%, so the qualifying payment above is the one your income must support, together with property tax, heating and other debts. Run your own numbers in the affordability calculator.
Is a 3-year fixed right for you in British Columbia?
Who it suits: Borrowers who want fixed-rate certainty but don't want to commit to five years when they expect rates to be lower at renewal. It's a popular middle path for renewers in a falling-rate environment and for anyone whose plans (a move, a growing family, a career change) sit roughly three years out.
What drives the rate, and what breaking it costs
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.
Breaking it early. 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 most popular shorter fixed term, and rising whenever cuts are expected. You give up two years of locked certainty to keep the option of renewing into a lower rate sooner.
What’s specific to British Columbia?
BC has unusually strong credit-union competition — Vancity and Coast Capital frequently undercut Big-6 rates and qualify at contract rate (not stress-test), making them a routine first-look for renewal and refi files in Greater Vancouver.
British Columbia lenders and closing costs
Top British Columbia lenders to compare. British Columbia’s 3-year fixed pricing is shaped by a distinct lender mix: RBC, Scotiabank, Vancity, Coast Capital, First National and others all bid for files here, and we shop the whole panel on one application. Foreign-buyer rules: Additional 20% foreign-buyer PTT applies in Metro Vancouver, Fraser Valley, Capital, Nanaimo, and Central Okanagan regional districts. Speculation and Vacancy Tax (0.5%–2%) applies annually to non-residents and certain Canadian non-residents.
Closing costs. On top of the rate, budget for bc property transfer tax (ptt) — 1% on the first $200K of purchase price, 2% on the portion to $2M, 3% on the portion to $3M, and 5% above $3M. First-time buyers get the PTT on the first $500,000 waived — a flat $8,000 — and that full $8,000 holds all the way to $835,000, not just to $500,000. Between $835,000 and $860,000 it tapers by about $320 per $1,000 of price and then stops. Separately, the Newly Built Home Exemption fully exempts new construction up to $1,100,000, tapering to nothing at $1,150,000. Both thresholds were raised on 1 April 2024. Run the full number in our British Columbia land transfer tax calculator.
Why get your British Columbia 3-year fixed rate through a broker?
Because 100+ lenders compete for your file instead of one. We can help you save money.
100+ lenders compete, not one
A British Columbia bank shows you one 3-year fixed rate sheet. We put your file in front of 100+ lenders, including RBC and Scotiabank.
Broker pricing
The rate brokers get is typically 15-30 bps below a bank's posted rate. You can't get it at a branch.
Built for British Columbia
BC has unusually strong credit-union competition — Vancity and Coast Capital frequently undercut Big-6 rates and qualify at contract rate (not stress-test), making them a routine first-look for renewal and refi files in Greater Vancouver.. Land transfer tax, rebates and local lender fit are built in.
Your rate held 90-120 days
A pre-approval locks your 3-year fixed rate while you shop, and many lenders honour a drop before you close.
No credit pull to start
We shop your British Columbia 3-year fixed rate and pre-qualify you without a hard credit check. FSRA-licensed advice in 15+ languages.
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 in British Columbia
First home, renewal, refinance, self-employed or bruised credit: there’s a 3-year fixed path for your file, with the same 100+ lender network.
First-time buyers
5% down to your first British Columbia home, with FHSA + RRSP HBP optimization.
Refinancing
Tap your British Columbia home equity for renovations, debt consolidation, or investing.
Renewing
Don't auto-renew. Compare your bank's offer against the market.
Self-employed
Business-for-self files priced right, with A-lender, alt-A and private compared.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
New to Canada
Newcomer programs at the big banks; international credit accepted.
British Columbia 3-year fixed rates — FAQ
What is the best 3-year fixed mortgage rate in British Columbia right now?
The best 3-year fixed rate in our 100+ lender network for British Columbia is approximately 4.04% as of Oct 24, 2026, which is about $3,928/month on the British Columbia average price of $929,619 with 20% down over 25 years. Your personalized British Columbia rate depends on your file — income, credit, loan-to-value, and property type. We shop every lender on one application to find your lowest.
Are British Columbia 3-year fixed rates different from the rest of Canada?
The headline rate is set nationally, but what you can actually get in British Columbia differs: the provincial lender mix, BC Financial Services Authority (BCFSA) regulation, and local credit unions all shape pricing and qualification. BC has unusually strong credit-union competition — Vancity and Coast Capital frequently undercut Big-6 rates and qualify at contract rate (not stress-test), making them a routine first-look for renewal and refi files in Greater Vancouver.
Should I choose a 3-year fixed in British Columbia?
Borrowers who want fixed-rate certainty but don't want to commit to five years when they expect rates to be lower at renewal. It's a popular middle path for renewers in a falling-rate environment and for anyone whose plans (a move, a growing family, a career change) sit roughly three years out. You give up two years of locked certainty to keep the option of renewing into a lower rate sooner.
How does breaking a 3-year fixed mortgage 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.
What land transfer tax will I pay in British Columbia?
1% on the first $200K of purchase price, 2% on the portion to $2M, 3% on the portion to $3M, and 5% above $3M. First-time buyers get the PTT on the first $500,000 waived — a flat $8,000 — and that full $8,000 holds all the way to $835,000, not just to $500,000. Between $835,000 and $860,000 it tapers by about $320 per $1,000 of price and then stops. Separately, the Newly Built Home Exemption fully exempts new construction up to $1,100,000, tapering to nothing at $1,150,000. Both thresholds were raised on 1 April 2024. Foreign buyers pay an additional 20% Property Transfer Tax in the designated regional districts. Annual vacancy taxes, including the City of Vancouver’s Empty Homes Tax, are separate from closing costs — relevant for investor buyers.
Can I lock this British Columbia rate before I buy?
Yes. Most lenders offer a 90-120 day rate hold on a pre-approval, so a rising market can't catch you (and many honour a lower rate if they drop). Start a pre-approval (no bureau pull to begin) and we'll hold your best British Columbia 3-year fixed rate.
Lock your best British Columbia 3-year fixed rate.
Free, no credit pull to begin. We shop 100+ lenders and hold your rate while you shop for the home.