Home / Current Rates / Vancouver Mortgage Rates
What Are Mortgage Rates in Vancouver Today?
Quick answer: As of Nov 5, 2026, our 5 year fixed rate is 4.75% (APR 4.75%, 5 year term) and our 5 year variable rate is 3.75% (APR 3.75%, 5 year term). Rates are the same across BC, so a Vancouver home gets the same pricing as one in Surrey; your down payment, the property and your credit decide where you land.
| Term | Rate | APR | Monthly payment per $100,000 |
|---|---|---|---|
| 5 year fixed | 4.75% | 4.75% | $567 |
| 3 year fixed | 4.53% | 4.53% | $555 |
| 5 year variable | 3.75% | 3.75% | $513 |
| 3 year variable | 3.90% | 3.90% | $521 |
Our rates as of Nov 5, 2026. APR assumes no lender or broker fees, in which case it equals the rate. Payments assume a 25 year amortization. Rates are for qualified borrowers, change without notice and depend on your property, down payment, credit and income.
What does a payment look like on a Vancouver condo?
Here is an illustrative example. A buyer purchases an $800,000 condo with 20% down, so the mortgage is $640,000 and needs no mortgage insurance. At our 5 year fixed rate of 4.75% (APR 4.75%, 5 year term) over 25 years, the payment is about $3,632 a month. To qualify, the lender tests the payment at 6.75%, which is about $4,384 a month, plus strata fees, property tax and heat. Try your own numbers with the BC affordability calculator or check your ratios with the GDS and TDS calculator.
What moves your rate in Vancouver?
- Insured or uninsured: mortgages with less than 20% down are insured and often get the lowest rates. Homes priced at $1.5 million or more cannot be insured, which applies to many Vancouver detached homes. Our guide to insured and uninsured mortgages explains the difference.
- Amortization: first time buyers and buyers of newly built homes can take a 30 year insured amortization, which lowers the payment but adds an insurance premium surcharge.
- Property type: condos with low strata reserves, live and work units and rentals can be priced differently.
- Purpose: a refinance or a rental property usually costs a little more than a purchase you live in.
Fixed or variable for a Vancouver purchase?
A fixed rate keeps your payment the same for the whole term, which helps when a Vancouver mortgage already takes a large share of income. A variable rate moves with the lender's prime rate and is currently lower, but the payment or the amortization can change. Many buyers who stretch to buy choose fixed for certainty; buyers with room in their budget often take variable. Read more about how the Bank of Canada's October 2026 rate decision affects both.
What else should Vancouver buyers budget for?
First time buyers in BC pay no property transfer tax on the first $500,000 of a home priced up to $835,000, with a partial exemption up to $860,000. Any tax owing is paid in cash on closing, along with legal fees. Investors should also plan for Vancouver's Empty Homes Tax and the BC speculation and vacancy tax. The closing costs calculator adds these up.
Frequently asked questions
Are mortgage rates in Vancouver higher than in the rest of BC?
No. Lenders price mortgages by province, not by city, so the same file gets the same rate in Vancouver, Surrey or Kelowna. What changes the rate is the file: insured or uninsured, the amortization, the property and your credit.
Why do many Vancouver buyers pay an uninsured rate?
Mortgage insurance is only available on homes priced under $1.5 million. Many Vancouver detached homes cost more, so buyers need at least 20% down and take an uninsured mortgage, which is often priced a little higher than an insured one.
How long can I hold a Vancouver mortgage rate?
A pre approval usually holds a rate for 90 to 120 days, depending on the lender. If rates fall before you buy, I ask the lender for the lower rate.
Do Vancouver's extra property taxes affect my mortgage?
Not the rate, but they affect your budget. Vancouver has an Empty Homes Tax on homes left empty, and BC has a speculation and vacancy tax in many urban areas. Both matter most for second homes and investment properties.
Buying or renewing in Vancouver? See all BC mortgage rates, read about our Vancouver mortgage broker service, or book an appointment with Asim Ali, ranked #4 in the CMP Top 75 Mortgage Brokers in Canada for 2026, or call 604‑591‑3590.