The rate game in 2026
With the Bank of Canada cutting and inflation cooling, posted rates have come off their 2023 peaks. But what you see online and what you actually qualify for can still differ by 50 bps or more.
Insured vs insurable vs uninsured
- Insured (less than 20% down): CMHC premium added; gets the lowest posted rates.
- Insurable (20%+, conventional criteria): no premium; competitive rates.
- Uninsured (doesn't meet conventional criteria — most refinances, rental, alt-A): priced 20–50 bps higher.
Fixed vs variable in 2026
Fixed locks in your rate; variable moves with prime. With expected BoC cuts ahead, variable can save you in year one but exposes you to upside risk. Run both scenarios against your actual budget.
What posted rates leave out
Lender fees. Title insurance assignment. Appraisal cost. Discharge fee (if you're breaking a mortgage). Penalty IRD if you're refinancing mid-term. The lender with the lowest posted rate may not be the cheapest all-in.
How to compare apples to apples
Use Mortgage360's mortgage payment calculator to see the monthly impact, and the stress test calculator to see what you actually qualify for. Then talk to a broker for the all-in quote.