Best 5-year fixed mortgage rates in British Columbia.
Today’s best 5-year fixed rate in British Columbia is 4.19% — about $3,989/month on a $929,619 home with 20% down. A 5-year fixed is the default choice for Canadians who want a locked payment and zero rate risk for half a decade.
Who has the best 5-year fixed rate in British Columbia?
Pine, at 4.19%. The lowest rates are usually insured pricing.
Insured vs uninsured: the lowest 5-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 $3,989/month. That’s British Columbia’s average price of $929,619 with 20% down ($185,924), a $743,695 mortgage at today’s best 5-year fixed rate of 4.19%, 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 5-year fixed cost on a typical British Columbia home?
With the minimum down ($67,962), you pay about $4,807/month and $174,941 in interest over the 5-year term. Lenders test your income at 6.19%.
See the full 5-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 5-year fixed rate of 4.19%, a 25-year amortization and Canadian semi-annual compounding. The term figures cover the 5-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 | $4,807/mo | $3,989/mo |
| Interest paid over the 5-year term | $174,941 | $145,184 |
| Principal repaid over the term | $113,451 | $94,154 |
| Balance owing at renewal (year 5) | $782,672 | $649,541 |
| Payment you must qualify at (6.19% stress-test rate) | $5,835/mo | $4,843/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 6.19% (the higher of your rate + 2% or 5.25%), not at 4.19%, 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 5-year fixed right for you in British Columbia?
Who it suits: Buyers and renewers who value certainty above all. A fixed payment for five years makes budgeting simple and removes any exposure to Bank of Canada moves. It suits first-time buyers stretching to qualify, families on a tight monthly budget, and anyone who plans to hold the mortgage for the full term.
What drives the rate, and what breaking it costs
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.
Breaking it early. Breaking a 5-year fixed early triggers the greater of three months' interest or the Interest Rate Differential (IRD), and at a Big-6 bank the posted-rate IRD can run into five figures, so this term rewards borrowers who will actually keep it for five years.
By a wide margin the most popular term in Canada: well over half of all fixed mortgages. You trade the chance of catching falling rates for total payment certainty.
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 5-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 5-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 5-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 5-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 5-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 5-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 5-year fixed rates — FAQ
What is the best 5-year fixed mortgage rate in British Columbia right now?
The best 5-year fixed rate in our 100+ lender network for British Columbia is approximately 4.19% as of Oct 24, 2026, which is about $3,989/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 5-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 5-year fixed in British Columbia?
Buyers and renewers who value certainty above all. A fixed payment for five years makes budgeting simple and removes any exposure to Bank of Canada moves. It suits first-time buyers stretching to qualify, families on a tight monthly budget, and anyone who plans to hold the mortgage for the full term. You trade the chance of catching falling rates for total payment certainty.
How does breaking a 5-year fixed mortgage work?
Breaking a 5-year fixed early triggers the greater of three months' interest or the Interest Rate Differential (IRD), and at a Big-6 bank the posted-rate IRD can run into five figures, so this term rewards borrowers who will actually keep it for five years.
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 5-year fixed rate.
Lock your best British Columbia 5-year fixed rate.
Free, no credit pull to begin. We shop 100+ lenders and hold your rate while you shop for the home.