Hustle & GritWatch us on YouTube
The Bank of Canada has tracked the posted 5-year conventional mortgage rate charged by Canada's chartered banks for decades — here is the year-by-year record since 2015.
posted 5-year conventional mortgage rate in Canada, July 2026
— down from a 7.04% peak at the end of 2023, but still well above the 4.64% floor seen in 2015–2016.
Bank of Canada (series V80691335)
Values are the posted 5-year conventional mortgage rate as of the last business day of each year (mid-2026 for the current year).
Year-end values of the posted 5-year conventional mortgage rate (last published observation of each year); 2026 reflects the most recent value as of late July. Source: Bank of Canada.
2023 was the peak: the posted 5-year conventional rate topped out at 7.04% in December 2023, the highest since the early 2000s.
2015–2021 was a low-rate plateau: the rate held in a narrow 4.64%–5.34% band for seven straight years before the 2022 hiking cycle.
The 2022 jump was the fastest in decades: the posted rate rose 1.70 points in a single year (4.79% to 6.49%) as the Bank of Canada raised its policy rate repeatedly.
Posted rates run above what most borrowers pay: lenders routinely discount off the posted rate, so this series is best used to track the direction and speed of rate moves, not the exact rate a client will be offered.
| Year | Posted 5-yr rate | Change | Note |
|---|---|---|---|
| 2015 | 4.64% | — | Low-rate era begins |
| 2016 | 4.64% | 0.00 pts | Stress test introduced for insured mortgages |
| 2017 | 4.99% | +0.35 pts | Bank of Canada begins hiking from emergency lows |
| 2018 | 5.34% | +0.35 pts | B-20 stress test extended to uninsured mortgages |
| 2019 | 5.19% | -0.15 pts | Rate hikes pause |
| 2020 | 4.79% | -0.40 pts | Pandemic-era rate cuts |
| 2021 | 4.79% | 0.00 pts | Held near pandemic lows |
| 2022 | 6.49% | +1.70 pts | Fastest annual jump on record |
| 2023 | 7.04% | +0.55 pts | PEAK — highest posted rate since the early 2000s |
| 2024 | 6.49% | -0.55 pts | Bank of Canada begins cutting |
| 2025 | 6.09% | -0.40 pts | Rate-cut cycle continues |
| 2026 | 6.09% | 0.00 pts | As of July 2026 |
Source: Bank of Canada, posted interest rates (Valet series V80691335). Values are year-end (last published observation of the year).
Bank of Canada policy rate, July 2026
Bank of Canada
Chartered bank prime rate, July 2026
Bank of Canada
5-year Government of Canada bond yield, July 2026
Bank of Canada
Peak posted 5-year rate, reached December 2023
Bank of Canada
The posted rate is a directional signal, not a client quote — but its swings explain why 2026 renewals are landing so differently depending on when the original term was signed. Use the trend to set client expectations early, especially for anyone renewing off a 2020–2021 term. Pair it with the stress test and bond-yield data below to explain the full picture in one conversation.
Last updated August 1, 2026. Each figure carries its source; projections are labelled. Page reviewed on every major source release. Information only — not advice.
See how Treadstone can scale your brokerage — a free call, no commitment.