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.
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MBWritten by the MortgageBids.ca editorial team. Last updated October 7, 2026. General information only; your lender confirms terms for your file.
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