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Which Mortgage Features Actually Protect You? - Flexibility Fit Tool

A mortgage isn't just a rate - it's a set of rules you'll live with.

Current Rates — Insured Mortgages

Updated 2026-04-06
3-Year Fixed 4.34%
5-Year Fixed 4.39%
5-Year Variable ? 3.7%
The variable rate is calculated as the lender's prime rate (currently 4.45%) plus or minus a lender adjustment. Your variable rate can change with each Bank of Canada announcement.

Does this rate apply to your situation? Book 15 minutes to find out.

Rates subject to change at any time without notice. These rates are for insured mortgages (down payment under 20%). Confirm your rate.

This tool provides estimates for informational purposes only. Actual rates and results depend on your specific situation. Rates last updated 2026-04-06. Rates are subject to change at any time.

Rate Isn’t Everything - Flexibility Can Save You More

Most people shop for the lowest rate. But the cheapest mortgage on paper can become the most expensive one if your life changes - and it usually does.

Portability Saves You Thousands

If you sell and buy a new home, a portable mortgage lets you transfer your existing rate. Without portability, you break your mortgage and pay the penalty - which at a Big 6 bank could be $10,000-$30,000+.

Penalty Structure Is the Hidden Cost

Monoline lenders (accessed through brokers) typically charge 3-month interest as a penalty. Big 6 banks charge the higher of IRD or 3-month interest, using inflated posted rates. On a $400K mortgage, this difference can be $15,000+.

The Bottom Line

A mortgage that’s 0.05% lower in rate but has a $20,000 penalty if you move isn’t a good deal. This tool helps you see what actually matters based on your life - not just your spreadsheet.