Uninsured mortgage rates

Uninsured mortgage rates (also called conventional) apply with 20% or more down, on refinances, and on homes priced at $1.5 million or more. Insurable mortgages meet insurance rules without the borrower paying a premium and are priced between insured and uninsured.

Updated October 7, 2026

What is an uninsured mortgage?

Any mortgage without default insurance; the lender carries the risk.

Today's best conventional bids

Illustrative rates this week — not offers; live bids from verified lenders replace these as lenders join
Term	Rate	Lender type	Shelf / note	Payment on $400,000
5-year fixed	4.04%	Credit union	uninsured	$2,113/mo
3-year fixed	4.19%	Monoline	uninsured	$2,145/mo
5-year variable	3.70%	Brokerage	prime − 0.75%	$2,046/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.

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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