More than three million mortgage loans are projected to be affected by the increasing mortgage interest rates in Canada by 2025. About one million of these mortgages are projected to be up for renewal in 2024. These loans were taken out at a time when interest rates were much lower, meaning that homeowners will be affected by a notable increase in their monthly payments.

Canada Conventional Mortgage: 5 Years data was reported at 6.490 % pa in Apr 2025. This stayed constant from the previous number of 6.490 % pa for Mar 2025. Canada Conventional Mortgage: 5 Years data is updated monthly, averaging 7.395 % pa from Jan 1973 (Median) to Apr 2025, with 628 observations. The data reached an all-time high of 21.750 % pa in Sep 1981 and a record low of 4.640 % pa in Jun 2017. Canada Conventional Mortgage: 5 Years data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.M005: Conventional Mortgage Rate.

The benchmark interest rate in Canada was last recorded at 2.75 percent. This dataset provides - Canada Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Canada Long Term Interest Rate

• Canada Government Benchmark Bonds Yield: Month End: 10 Years was reported at 2.90 % pa in Feb 2025, compared with 3.07 % pa in the previous month.
• Canada Long Term Interest Rate data is updated monthly, available from Jan 1993 to Feb 2025.
• The data reached an all-time high of 9.28 % pa in Jun 1994 and a record low of 0.46 % pa in Jul 2020.
• Long Term Interest Rate is reported by reported by Bank of Canada.

• In the latest reports, Canada Short Term Interest Rate: Month End: Treasury Bills Yield: 3 Months was reported at 2.82 % pa in Feb 2025.
• The cash rate (Policy Rate: Month End: Overnight Target Rate) was set at 3.00 % pa in Feb 2025.
• Canada Exchange Rate against USD averaged 1.33 (USD/CAD) in Jun 2023.

The Canadian home lending market, valued at approximately $XX million in 2025, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5% through 2033. This expansion is fueled by several key factors. Firstly, a consistently growing population and increasing urbanization are driving demand for housing, particularly in major metropolitan areas. Secondly, favorable government policies aimed at supporting homeownership, while subject to change, have historically played a crucial role. Thirdly, the prevalence of low-interest rates (though subject to fluctuations) in recent years has made mortgages more accessible to a wider range of borrowers. Finally, the diverse range of lenders, including commercial banks, financial institutions, credit unions, and online lenders, fosters competition and innovation within the market, offering consumers more choice and potentially better rates. However, the market is not without its challenges. Rising interest rates, inflation, and potential economic downturns pose significant risks to the sustained growth trajectory. Furthermore, stricter lending regulations implemented to mitigate risks within the financial system could impact affordability and accessibility for some borrowers. Market segmentation reveals a preference for fixed-rate loans and a growing adoption of online lending platforms, alongside continued reliance on traditional brick-and-mortar institutions. Key players in the market, such as HSBC Bank Canada, Tangerine Direct Bank, and others, compete aggressively to capture market share through varied product offerings and service models. The market’s long-term prospects remain positive, albeit contingent on macroeconomic stability and regulatory shifts. Continued innovation and adaptation by lenders will be crucial in navigating the evolving landscape of the Canadian home lending market. This insightful report provides a deep dive into the dynamic Canadian home lending market, analyzing key trends, growth drivers, and challenges from 2019 to 2033. With a focus on the crucial year 2025 (base and estimated year), this comprehensive study offers invaluable insights for stakeholders across the industry. We leverage data from the historical period (2019-2024) to project the market's trajectory during the forecast period (2025-2033). Keywords: Canadian mortgage market, home equity loans Canada, mortgage rates Canada, online mortgage lenders Canada, Canadian real estate finance. Recent developments include: On March 15, 2022, First Ontario Credit Union announced its merger with Heritage savings & Credit union to offer the best in financial products and services., On February 09, 2022, Hello safe announced a new partnership with Hard bacon, a personal finance application used by more than 35,000 Canadians, this partnership is to leverage Hard bacon's portfolio of comparison tools.. Notable trends are: A Rise in Home Prices Boosting Home Equity Lending Market.

This dataset provides values for 30 YEAR MORTGAGE RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Rates have been trending downward in Canada for the last five years. The ebbs and flows are caused by changes in Canada’s bond yields (driven by Canadians economic developments and international rate movements, particularly U.S. rate fluctuations) and the overnight rate (which is set by the Bank of Canada). As of August 2022, there has been a 225 bps increase in the prime rate, since beginning of year 2022, from 2.45% to 4.70% as of Aug 24th 2022. The following are the historical conventional mortgage rates offered by the 6 major chartered banks in Canada in the past 20 years.

Canada Conventional Mortgage: 1 Year: Weekly data was reported at 6.090 % pa in 07 May 2025. This stayed constant from the previous number of 6.090 % pa for 30 Apr 2025. Canada Conventional Mortgage: 1 Year: Weekly data is updated weekly, averaging 3.750 % pa from Jan 2000 (Median) to 07 May 2025, with 1323 observations. The data reached an all-time high of 8.300 % pa in 31 May 2000 and a record low of 2.790 % pa in 16 Mar 2022. Canada Conventional Mortgage: 1 Year: Weekly data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.M005: Conventional Mortgage Rate.

Evaluate Canada’s best mortgage rates in one place. RATESDOTCA’s Rate Matrix lets you compare pricing for all key mortgage types and terms. Rates are based on an average mortgage of $300,000

This dataset provides values for MORTGAGE RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at *** percent in June 2022 before steadily declining to *** percent by December 2024. In early 2025, inflation began to increase again, rising to *** percent in February, and dropping to *** percent in March. In response to rising inflation between 2020 and 2022, the Bank of Canada implemented aggressive interest rate hikes. The bank rate reached a maximum of **** percent in July 2023 and remained stable until June 2024. As inflationary pressures eased in the second half of 2024, the central bank reduced interest rates to *** percent in December 2024. In 2025, the bank rate witnessed two cuts, standing at ***** percent in May 2025. This pattern reflected broader global economic trends, with most advanced and emerging economies experiencing similar inflationary challenges and monetary policy adjustments. Global context of inflation and interest rates The Canadian experience aligns with the broader international trend of central banks raising policy rates to combat inflation. Between 2021 and 2023, nearly all advanced and emerging economies increased their central bank rates. However, a shift occurred in the latter half of 2024, with many countries, including Canada, beginning to lower rates. This change suggests a new phase in the global economic cycle and monetary policy approach. Notably, among surveyed countries, Russia maintained the highest interest rate in early 2025, while Japan had the lowest rate. Comparison with the United States The United States experienced a similar trajectory in inflation and interest rates. U.S. inflation peaked at *** percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching **** percent in August 2023. This rate remained unchanged until September 2024, when the first cut since September 2021 was implemented. In contrast, Canada's bank rate peaked at **** percent and began decreasing earlier, with cuts in June and July 2024. These differences highlight the nuanced approaches of central banks in managing their respective economies amid global inflationary pressures.

Bank Lending Rate in Canada remained unchanged at 4.95 percent in June. This dataset provides - Canada Prime Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In May 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 20 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in May 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Mortgage interest rates worldwide varied greatly in 2024, from less than **** percent in many European countries, to as high as ** percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increase in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2023, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

Conventional Mortgage: 1 Year data was reported at 6.090 % pa in Apr 2025. This records a decrease from the previous number of 6.990 % pa for Mar 2025. Conventional Mortgage: 1 Year data is updated monthly, averaging 6.425 % pa from Jan 1980 (Median) to Apr 2025, with 544 observations. The data reached an all-time high of 21.250 % pa in Sep 1981 and a record low of 2.790 % pa in Feb 2022. Conventional Mortgage: 1 Year data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.M005: Conventional Mortgage Rate.

The Canadian home lending market, valued at approximately $X million in 2025 (assuming a reasonable market size based on available data and comparable markets), is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5.00% through 2033. This expansion is fueled by several key drivers. Increasing homeownership aspirations among Canadians, particularly among millennials and Gen Z, are significantly contributing to market demand. Favorable government policies aimed at supporting affordable housing, though potentially fluctuating, also play a vital role. Furthermore, the rise of innovative financial technologies and the increasing accessibility of online lending platforms are streamlining the borrowing process and broadening market reach. Competition is intense among a diverse range of lenders, including commercial banks (like Bank of Montreal and National Bank of Canada), financial institutions, credit unions (such as PenFinancial and First Ontario), and specialized mortgage providers (like True North Mortgage and IntelliMortgage). This competitive landscape fosters innovation and drives down costs for borrowers. However, the market faces challenges. Rising interest rates represent a significant restraint, impacting affordability and potentially slowing growth. Stringent lending regulations, designed to mitigate risk, can also restrict lending volume to some extent. Furthermore, economic uncertainties and fluctuations in housing prices can influence market sentiment and borrower confidence. Market segmentation shows considerable diversity, with fixed-rate loans maintaining a significant share, alongside growing demand for home equity lines of credit. The rise of online lending is transforming the sector, though offline channels remain important, particularly for complex mortgages or those requiring personalized guidance. The forecast period (2025-2033) presents both opportunities and risks for lenders, requiring strategic adaptation to prevailing economic and regulatory conditions. The continued growth of the market depends upon careful balance between affordable housing options and sustainable financial practices. Recent developments include: On March 15, 2022, First Ontario Credit Union announced its merger with Heritage savings & Credit union to offer the best in financial products and services., On February 09, 2022, Hello safe announced a new partnership with Hard bacon, a personal finance application used by more than 35,000 Canadians, this partnership is to leverage Hard bacon's portfolio of comparison tools.. Notable trends are: A Rise in Home Prices Boosting Home Equity Lending Market.

Canada Residential Mortgages: Funds Advanced: Insured: Fixed Rate: 3 to <5 Yrs data was reported at 4.260 % pa in Feb 2025. This records a decrease from the previous number of 4.290 % pa for Jan 2025. Canada Residential Mortgages: Funds Advanced: Insured: Fixed Rate: 3 to <5 Yrs data is updated monthly, averaging 2.965 % pa from Jan 2013 (Median) to Feb 2025, with 146 observations. The data reached an all-time high of 5.990 % pa in Nov 2023 and a record low of 1.820 % pa in Feb 2021. Canada Residential Mortgages: Funds Advanced: Insured: Fixed Rate: 3 to <5 Yrs data remains active status in CEIC and is reported by Bank of Canada. The data is categorized under Global Database’s Canada – Table CA.M008: New and Existing Lending: Residential Mortgages. [COVID-19-IMPACT]

Canada Consumer Price Index (CPI): All Items excl Mortgage Interest Cost data was reported at 163.200 2002=100 in Mar 2025. This records an increase from the previous number of 162.600 2002=100 for Feb 2025. Canada Consumer Price Index (CPI): All Items excl Mortgage Interest Cost data is updated monthly, averaging 106.000 2002=100 from Dec 1984 (Median) to Mar 2025, with 484 observations. The data reached an all-time high of 163.200 2002=100 in Mar 2025 and a record low of 60.200 2002=100 in Dec 1984. Canada Consumer Price Index (CPI): All Items excl Mortgage Interest Cost data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I009: Core Inflation Index.

The Canada mortgage/loan brokers market size was valued at XX million in 2025 and is projected to grow at a CAGR of 5.00% from 2025 to 2033. The growth of the market can be attributed to the increasing demand for mortgages due to rising home prices and low interest rates. Other factors driving the market growth include the growing number of first-time homebuyers and the increasing awareness of the benefits of using a mortgage broker. Some of the key trends in the Canada mortgage/loan brokers market include the increasing use of technology, the growing popularity of online mortgage applications, and the increasing demand for personalized advice from mortgage brokers. The market is also witnessing a consolidation trend, with large mortgage brokers acquiring smaller ones to gain market share. The market is dominated by a few large players, such as True North Mortgage, KeyRate Corp, and CanWise Financial. These companies have a strong brand presence and a wide network of brokers. The market is also characterized by the presence of a large number of small and medium-sized mortgage brokers. These brokers typically focus on a specific niche market or geographic area. Recent developments include: In October 2023, True North Mortgage expands its Rate Relief product lineup, which initially launched with the lowest 6-month fixed rate around. The new 1-year Rate Relief mortgage is for those buying a home or who want to switch lenders at renewal to a better rate., November 2022: Home Capital Group Inc. announced that it had signed a legally binding contract (the "Arrangement Agreement") to be bought out by a wholly-owned subsidiary of Smith Financial Corporation ("SFC"), a company run by Stephen Smith., August 2022: Rocket Mortgage Canada, a digital mortgage broker based in Windsor, Ontario, made it official that it would stop doing business as Edison Financial and instead do business across the country under the name Rocket Mortgage. Rocket Mortgage said that it will change its brand and start lending directly in Canada later this year. Rocket Mortgage's agents talk with clients from all walks of life on a regular basis. Because of this, the company is in a unique position to use the information learned from these conversations to make loan products that work well and meet customer needs.. Notable trends are: Booming Alternative or Private Lending Market.

The Canadian mortgage and loan broker market is experiencing robust growth, driven by several key factors. A consistently strong housing market, coupled with increasing demand for diverse financial products like home loans, commercial and industrial loans, and vehicle loans, fuels this expansion. The rising complexity of mortgage products and the increasing need for personalized financial advice have created a significant demand for brokers' expertise, further boosting market size. The market is segmented by enterprise size (large, small, mid-sized), loan type (home loans, commercial/industrial loans, vehicle loans, government loans, others), and end-user (businesses, individuals). While precise market size figures are unavailable, we can infer substantial value based on the provided CAGR of >5% and a reported study period of 2019-2033. Given this growth trajectory and the established presence of numerous brokers (including True North Mortgage, KeyRate Corp, CanWise Financial, and others), a conservative estimate for the 2025 market size would fall within the range of $X Billion, with projections expecting continued expansion throughout the forecast period (2025-2033). This growth is not uniform across segments; the home loan segment likely dominates the market, while commercial and industrial loans, influenced by economic cycles, exhibit fluctuating demand. The increasing adoption of digital platforms and technological advancements within the brokerage sector will further shape market dynamics in the coming years. However, certain restraints exist. Regulatory changes and economic fluctuations influence market stability. Competition among established brokers and the emergence of new players add to the dynamic landscape. Maintaining consumer trust and complying with evolving regulations are critical for sustained success. The Canadian market showcases a strong preference for mortgage brokers, evidenced by the numerous established firms and sustained market growth. The industry's future growth will depend on effectively navigating regulatory compliance and leveraging technological advancements to deliver efficient and personalized services to a diverse clientele. This competitive market is expected to witness continued growth fueled by both established players and the entrance of new firms, capitalizing on the increasing demand for expert financial guidance in an evolving mortgage landscape. Recent developments include: In October 2023, True North Mortgage expands its Rate Relief product lineup, which initially launched with the lowest 6-month fixed rate around. The new 1-year Rate Relief mortgage is for those buying a home or who want to switch lenders at renewal to a better rate., November 2022: Home Capital Group Inc. announced that it had signed a legally binding contract (the "Arrangement Agreement") to be bought out by a wholly-owned subsidiary of Smith Financial Corporation ("SFC"), a company run by Stephen Smith., August 2022: Rocket Mortgage Canada, a digital mortgage broker based in Windsor, Ontario, made it official that it would stop doing business as Edison Financial and instead do business across the country under the name Rocket Mortgage. Rocket Mortgage said that it will change its brand and start lending directly in Canada later this year. Rocket Mortgage's agents talk with clients from all walks of life on a regular basis. Because of this, the company is in a unique position to use the information learned from these conversations to make loan products that work well and meet customer needs.. Notable trends are: Booming Alternative or Private Lending Market.