Best 5-year variable mortgage rates in Quebec.
Today’s best 5-year variable rate in Quebec is 3.00% — about $1,981/month on a $523,250 home with 20% down. A 5-year variable is the term for borrowers who expect rates flat-to-lower and want the cheapest exit.
Who has the best 5-year variable rate in Quebec?
Marathon Mortgage Corp, at 3.00%. The lowest rates are usually insured pricing.
Insured vs uninsured: the lowest 5-year variable 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 Quebec rates →
What would my payment be?
About $1,981/month. That’s Quebec’s median price of $523,250 with 20% down ($104,650), a $418,600 mortgage at today’s best 5-year variable rate of 3.00%, over 25 years with Canadian semi-annual compounding. That payment moves with prime over the term. Model your own price in the payment calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.14% | $2,234/mo |
| 5-Year VariableLowest | 3.00% | $1,981/mo |
| 3-Year Fixed | 4.04% | $2,211/mo |
| 3-Year Variable | 3.90% | $2,179/mo |
| 2-Year Fixed | 3.99% | $2,200/mo |
| 1-Year Fixed | 4.19% | $2,245/mo |
| 4-Year Fixed | 4.14% | $2,234/mo |
| 7-Year Fixed | 4.49% | $2,315/mo |
| 10-Year Fixed | 5.34% | $2,516/mo |
What does a 5-year variable cost on a typical Quebec home?
With the minimum down ($27,325), you pay about $2,441/month and $71,533 in interest over the 5-year term. Lenders test your income at 5.25%.
See the full 5-year cost: down payment, insurance, interest and balance
Worked on Quebec’s median price of $523,250 (Quebec province-wide median price, single-family homes — Centris (APCIQ)) at today’s best 5-year variable rate of 3.00%, a 25-year amortization and Canadian semi-annual compounding. The term figures cover the 5-year term only, and assume the rate stays at 3.00% throughout: a variable rate moves with prime.
| Minimum down (insured) | 20% down (uninsured) | |
|---|---|---|
| Down payment | $27,325 (5.2%) | $104,650 (20.0%) |
| Default insurance premium (added to the mortgage) | $19,837 | None |
| Quebec sales tax on the premium (cash at closing) | $1,785 | None |
| Mortgage amount | $515,762 | $418,600 |
| Monthly payment | $2,441/mo | $1,981/mo |
| Interest paid over the 5-year term | $71,533 | $58,057 |
| Principal repaid over the term | $74,916 | $60,803 |
| Balance owing at renewal (year 5) | $440,846 | $357,797 |
| Payment you must qualify at (5.25% stress-test rate) | $3,074/mo | $2,495/mo |
Quebec Welcome Tax (Droits de mutation) on this price: about $5,959 on the provincial base schedule (many municipalities charge more on the portion above $500,000). It is billed by the municipality a few months after closing and paid in cash. An eligible first-time buyer can recover up to $5,240 of it afterwards through Quebec’s refundable homeownership tax credit.
Qualifying: lenders test your income at 5.25% (the higher of your rate + 2% or 5.25%), not at 3.00%, 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 variable right for you in Quebec?
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, and what breaking it costs
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.
The most popular variable term; its share swings with the rate cycle. You accept payment uncertainty in exchange for a cheaper exit and upside if rates fall.
What’s specific to Quebec?
Desjardins (Quebec's largest financial cooperative) and National Bank dominate the Quebec mortgage market with deeply localized products. Desjardins frequently offers competitive rates with simplified closing through their integrated notary network. French-language service is mandatory for many borrowers — we have French-speaking advisors available.
Quebec lenders and closing costs
Top Quebec lenders to compare. Quebec’s 5-year variable pricing is shaped by a distinct lender mix: Desjardins, National Bank, RBC, Scotiabank, Laurentian Bank and others all bid for files here, and we shop the whole panel on one application. Foreign-buyer rules: Federal foreign-buyer ban applies (extended to 2027). Quebec does not have its own NRST.
Closing costs. On top of the rate, budget for quebec welcome tax (droits de mutation) — tiered: 0.5% to $62,900, 1% to $315,000, then 1.5% — plus whatever rate the municipality sets above $500,000, capped at 3% for every city except Montréal. Billed by the city months AFTER closing, not collected on it. Quebec's refundable tax credit for access to homeownership, new for 2026 and retroactive to 1 January, reimburses eligible first-time buyers 100% of the first $5,000 of transfer duties plus 25% of the next $3,500 — up to $5,875. It is reduced progressively above a $750,000 home value and is nil at $1,000,000, and it arrives as a tax credit afterwards rather than as a discount at closing. Run the full number in our Quebec land transfer tax calculator.
Why get your Quebec 5-year variable 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 Quebec bank shows you one 5-year variable rate sheet. We put your file in front of 100+ lenders, including Desjardins and National Bank.
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 Quebec
Desjardins (Quebec's largest financial cooperative) and National Bank dominate the Quebec mortgage market with deeply localized products. Land transfer tax, rebates and local lender fit are built in.
Your rate held 90-120 days
A pre-approval locks your 5-year variable rate while you shop, and many lenders honour a drop before you close.
No credit pull to start
We shop your Quebec 5-year variable 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 Quebec
First home, renewal, refinance, self-employed or bruised credit: there’s a 5-year variable path for your file, with the same 100+ lender network.
First-time buyers
5% down to your first Quebec home, with FHSA + RRSP HBP optimization.
Refinancing
Tap your Quebec 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.
Quebec 5-year variable rates — FAQ
What is the best 5-year variable mortgage rate in Quebec right now?
The best 5-year variable rate in our 100+ lender network for Quebec is approximately 3.00% as of Oct 24, 2026, which is about $1,981/month on the Quebec median price of $523,250 with 20% down over 25 years. Your personalized Quebec 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 Quebec 5-year variable rates different from the rest of Canada?
The headline rate is set nationally, but what you can actually get in Quebec differs: the provincial lender mix, Autorité des marchés financiers (AMF) regulation, and local credit unions all shape pricing and qualification. Desjardins (Quebec's largest financial cooperative) and National Bank dominate the Quebec mortgage market with deeply localized products. Desjardins frequently offers competitive rates with simplified closing through their integrated notary network. French-language service is mandatory for many borrowers — we have French-speaking advisors available.
Is a 5-year variable a good idea in Quebec?
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. You accept payment uncertainty in exchange for a cheaper exit and upside if rates fall.
How does breaking a 5-year variable mortgage work?
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.
What land transfer tax will I pay in Quebec?
Tiered: 0.5% to $62,900, 1% to $315,000, then 1.5% — plus whatever rate the municipality sets above $500,000, capped at 3% for every city except Montréal. Billed by the city months AFTER closing, not collected on it. Quebec's refundable tax credit for access to homeownership, new for 2026 and retroactive to 1 January, reimburses eligible first-time buyers 100% of the first $5,000 of transfer duties plus 25% of the next $3,500 — up to $5,875. It is reduced progressively above a $750,000 home value and is nil at $1,000,000, and it arrives as a tax credit afterwards rather than as a discount at closing. The municipal rate above $500,000 is where Quebec cities diverge, and by a lot: Laval, Brossard, Gatineau and Sherbrooke charge 3%; Longueuil charges 3% but not until $630,100; Québec City steps through 2.5% between $500,000 and $750,000 first; and Montréal — the only municipality the Act permits above 3% — runs 2% from $552,300, 2.5% from $1,104,700, 3.5% from $2,136,500 and 4% above $3,113,000.
Can I lock this Quebec 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 Quebec 5-year variable rate.
Lock your best Quebec 5-year variable rate.
Free, no credit pull to begin. We shop 100+ lenders and hold your rate while you shop for the home.