Today's best 3-year fixed rates
| Term | Rate | Lender type | Shelf / note | Payment on $400,000 |
|---|---|---|---|---|
| 3-year fixed | 4.19% | Monoline | uninsured | $2,145/mo |
| 5-year fixed | 4.04% | Credit union | uninsured | $2,113/mo |
Payments on a $400,000 mortgage, 25-year amortization, fixed rates compounded semi-annually. Prime 4.45% (Bank of Canada policy rate 2.25%), October 7, 2026.
3-year vs 5-year fixed
Compare the payment and the interest over each term, then consider what rate you'd renew at in year 3.
MBWritten by the MortgageBids.ca editorial team. Last updated October 7, 2026. General information only; your lender confirms terms for your file.
Related
Challenge your mortgage rate
Connect with verified lenders and brokers bidding on your mortgage. Free for homeowners, three short steps.