Welcome to the Kanetix® free online mortgage rate comparison service. We're the first and only website in Canada where you can secure the lowest mortgage rates online! Browse our competitive mortgage rates, select a rate you want, and request for it to be secured. You'll even get a mortgage rate guarantee certificate (subject to certain terms and conditions of our partner mortgage brokers and lenders). Don't want or not ready to secure a particular rate? That's ok! Simply browse our available low mortgage rates.

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It's really that easy.

Compare the best mortgage interest rates in Canada today:

  • Fixed as well as variable rate mortgages
  • Open and closed mortgages
  • A variety of amortization periods, payment types, pre-payment options, and terms available
  • Browse both broker as well as lender mortgage loans

Maybe you're not sure how big of a mortgage you want or what mortgage payments you'd be able to afford. We're here to help. Access our easy-to-use mortgage payment calculator to see how various mortgage loans, interest rates and payment frequencies would affect your mortgage payment. This great mortgage calculator will also help you understand how much interest you will be paying over the life of the mortgage loan and the savings associated with selecting a rapid weekly or rapid by-weekly payment option. With this knowledge you will have a better understanding of your mortgage needs and options which should help you make decisions to reduce your mortgage cost over the life of the loan.

How does a Canadian mortgage work?

Owning a home is a dream for most Canadians. It's an opportunity to own a physical asset which typically appreciates in value over the long term. However, most do not have the funds to purchase a home outright, which is where mortgage financing comes into play. A mortgage bridges the gap between the money you've saved for the purchase of a home (your down payment) and the total purchase price of the property. A mortgage is essentially a loan - money you borrow from a lender and pay back with interest over a set period of time.

There are many lenders that offer mortgages including: banks, credit unions, trust companies, among others. Each lender has unique mortgage products with distinctive features. Therefore there could be differences between a bank mortgage and a credit union mortgage.

When you take out a mortgage you are borrowing money from the lender. The lender's compensation for offering you the service is the interest that you pay on the money borrowed. This interest rate is also called the mortgage rate and is applied to the balance of the mortgage. Therefore, your mortgage payment will consist of both interest as well as principal. Only the portion applied to principal will reduce the balance of your mortgage. The more payments you make the less interest you'd be charged since the interest rate would be applied to a smaller balance with each occurring payment.

Shop around in order to find the best mortgage rate

Mortgage rates can vary by product and across lenders. Whether you're looking for a residential mortgage, commercial mortgage, first mortgage, second mortgage, mortgage refinance, or mortgage renewal, you will be exposed to a variety of different mortgage rates. When enquiring about rates you will often be quoted the posted rate, the advertised rate with no discount. However lenders are able, and willing, to offer discounts on the posted rate, resulting in a lower, more favourable mortgage rate. Given these factors, it is imperative to comparison shop and negotiate when looking for a mortgage. Doing so will allow you to not only find the cheapest mortgage but also the one that best meets your needs.

To get the best possible mortgage rates and find mortgage products that meet your needs:

  • Comparison shop. This means check out different products at more than one lender, preferably at least five or six. However calling that many lenders or visiting several branches can be time consuming. Using the Kanetix.ca online mortgage rate comparison service helps solve this problem. We do all the leg work for you by comparing mortgages rates across various lenders and brokers to help you save money and choose the best product with the lowest mortgage rate. Our service ensures that all rates available on our website are the most competitive and include some of the best rates in Canada. We will not show you posted rates!
  • Consider a mortgage broker. Brokers work with many different lenders (banks, credit unions, trust companies) and are often able to offer very competitive mortgage rates to their clients. Dealing with mortgage brokers won't cost you a dime as they are compensated by the lenders whose mortgages they sell. Kanetix in fact has several partner mortgage brokers who are committed to helping you along the path of purchasing or refinancing your home. Use our mortgage rate comparison service and when you're ready to secure a rate one of our experienced partner mortgage brokers will assistant you in making homeownership, or that dream home renovation you've always wanted, a reality!
  • Educate yourself. The best way to know what mortgage product is best for you is to be familiar with mortgage features (pre-payment restrictions, closed vs. open, fixed vs. variable rates, etc.), mortgage rates, payment options, etc. There are plenty of resources online including our mortgage information section which includes a mortgage glossary.

It is important to consider all mortgage features and your personal circumstances when deciding which mortgage product is best for you. The best mortgage rate is not always the lowest or cheapest. A mortgage can have the lowest rate but also have the most restrictive pre-payment provisions. If you expect to make large lump sum payments throughout the year, it may make sense to go with a mortgage with a slightly higher rate but more pre-payment flexibility. This is just one of several scenarios to consider when deciding which type of mortgage to choose. While finding the best mortgage rate in Canada is an extremely important aspect of comparison shopping, it is not the be-all and end-all and other factors (prepayment provisions, payment flexibility, etc.) should also be considered.

KANETIX's mortgage rate comparison service is readily available across Canada! You can now easily compare the best mortgage rates from top lenders and brokers in the province of Ontario, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Newfoundland and Prince Edward Island.

Why use Kanetix to find the best mortgage deals?

The Kanetix.ca online mortgage rate comparison service is your best all-round option to find the lowest mortgage rates in Canada. The following are the benefits of using our service:

  • Compare dozens of mortgages from a variety of mortgage brokers and lenders
  • The most competitive and lowest mortgage rates around
  • Secure rates online, from the comfort of your own home
  • Receive mortgage rate guarantee certificates virtually
  • Experienced mortgage agents standing by to help
  • Purchase a mortgage without leaving your home
  • It takes minutes
  • It's free!

Which mortgage is best - Open or Closed?

Mortgages can be open or closed. An open mortgage allows you to payoff as much of the mortgage as you want, at any time, before the end of the term. You may even pay off the full mortgage if you want. On the other hand, a closed mortgage has pre-payment restrictions. With a closed mortgage you will incur a penalty if you try to make additional payments on a mortgage, pay it off, refinance it, or renegotiate the rate before the end of the term. However, closed mortgages usually have pre-payment privileges which allow you to make lump sum payments and increase your monthly payment up to a certain percentage (this varies by lender). As long as you don't go over the limit you will not have to pay any penalty fees. For having such restrictions, closed mortgages generally have lower rates than open mortgages.

Which mortgage is best for you will depend on your personal circumstances. If you do not anticipate making additional payments beyond the allowed thresholds specified in the closed mortgage agreement, a closed mortgage will be a better choice since it carries a lower mortgage rate. However, if you anticipate a large inflow of cash (inheritance, sale of a business, etc.) to occur before the end of the term, an open mortgage can be a better choice. In that case, a Home Equity Line of Credit, an alternative to the open mortgage should also be considered.

Try the Kanetix.ca online mortgage rate comparison service to browse the best mortgages, best mortgage lenders, best rate mortgages and best mortgage deals

Which mortgage has the lowest rate - Fixed or Variable?

A fixed mortgage has a set mortgage rate that does not change during the term of the mortgage. On the other hand, a variable mortgage has a mortgage rate that is tied to the prime lending rate. Therefore, this rate can be the prime lending rate plus or minus a fixed percentage. While fixed rates offer stability and peace of mind, variable rates can often result in mortgage buyers paying less interest over the term of the mortgage if one is willing to assume to risk of a rate increase. Regardless of whether rates go up or down with a variable mortgage, the mortgage payment does not change, only the portion that goes towards the payment of principal does.

Historically variable rates have been lower than fixed rates. However, there is no right answer in regards to which mortgage, variable or fixed, is better. The decision depends on your risk aversion, level of current mortgage rates, difference between fixed and variable mortgage rates, and expected future interest rate changes.

Compare the best, lowest and cheap mortgage rates today at Kanetix.ca.

Conventional vs. High Ratio

A conventional mortgage is one where the loan-to-value is <80 per cent (down payment to property value is >20 per cent). A high ratio mortgage is one where the mortgage loan-to-value is >80 per cent (down payment to property value is <20 per cent). Mortgage default insurance is mandatory on all high ratio mortgages. The insurance is meant to protect the lender against the homeowner defaulting on their mortgage. The cost of the insurance is generally 1.75 per cent - 2.75 per cent (varies based on the size of the down payment) of the mortgage amount. The insurance cost does not have to be paid right away and is simply added to the total mortgage amount. In Canada, there are three companies that provide default insurance protection: Canada Mortgage and Housing Corporation, Genworth Capital, and Canada Guaranty Mortgage Insurance.

The way to minimize or eliminate this cost is to increase the size of your down payment

Other than low rates what other mortgage features should you consider?

Aside from attempting to find the mortgage with the best rate, mortgage features should also be taken into account when deciding which mortgage to purchase. Firstly, there are prepayment features for closed mortgages - the ability to make additional payments throughout the term of the mortgage. This includes lump sum limits, the ability to make an annual lump sum payment up to a per cent of the total mortgage amount. The payment does not have to be made all at once and can be split into several payments, as long as the total of these payments does not exceed the limit in a given year. Prepayment privileges also include the ability to increase the monthly payment by a certain percentage - this is set separately from the lump sum payment annual threshold.

For example: the mortgage amount is $200,000, the lump sum payment limit is 20 per cent and the annual payment increase limit is 100 per cent.

  • You can contribute (up to) an extra $40,000 to your mortgage in the given year
  • Assuming your monthly payments are $1,500, you may increase them up to $3,000/month

Secondly, the rate hold period is also important and varies by lender. It is the time period that a lender will guarantee you a rate for. This period can be as high as 120 days. If rates are expected to go up in the short term, the rate hold period can play into your mortgage buying decision.

Thirdly, the amortization period is an important factor that you have control over. It influences your mortgage affordability by having an effect on your monthly mortgage payment. Certain lenders may have longer available amortization periods (25+ years) than others. Therefore if you could only afford a mortgage with 25+ year amortization, the amortization period offered by different lenders (in addition to the mortgage rate) would influence your mortgage purchasing decision.

Lastly, payment type should also be considered when planning out your mortgage financing. Generally all mortgages have the same payment options (i.e. monthly, bi-weekly, bi-weekly rapid, etc.). While it will not influence your decision regarding which mortgage to purchase, figuring out the best payment type for you could save you a significant amount of interest and help you pay off your mortgage faster.

Kanetix.ca rate comparison service offers dozens of mortgage products with various features. To ensure you are getting the best mortgage for you with the lowest rate, compare all available mortgage options today!

Factors that influence getting the best mortgage rate

Mortgage rates obviously vary by term and type (closed vs. open, fixed vs. variable). However there are a couple more factors that most people are not aware of that could potentially influence the rate you receive:

  • Credit score - some lenders will offer different tiers of rates based on your credit score (lower rate for customer with a high credit score)
  • Mortgage timing - some lender will offer a discount on the rate if you purchase the mortgage within a certain time period (i.e. within 30 days).

It is important to be honest when providing your information for a mortgage application since your answers could ultimately affect the final rate you receive. Remember that brokers and lenders will ask for supporting documentation to verify some of the information you provide to them.

For the best mortgage rates in Canada check out KANETIX.ca today!

Top Mortgage Brokers in Canada

Kanetix works with the top mortgage brokers in Canada to provide you with the best mortgages rates around. Mortgage brokers, or mortgage agents as they're often called, are experienced professionals that can help you with your home financing. They are advisors who are there to ensure that you choose the best mortgage product for your specific needs. Brokers work with dozens of different lenders, including chartered banks and credit unions, and therefore can offer you a variety of different mortgage products. Brokers help you figure out: affordability, payments, mortgage insurance, amortization, among other key aspect of home buying and refinancing.

Compare broker mortgage rates at Kanetix.ca.

This summary is for informational purposes only and should not be relied upon without verification by contacting a mortgage professional.


Canada is such a big country - and each province and territory has its own unique quality. Canadians move from city to city, city to country and vice versa within their own provinces all of the time. Usually, a move within the same province is done with relative ease. However, moving from one province to another can be daunting, confusing and tiring. There are so many things to consider, as laws and services can vary from province to province or territory. As Canadians, we have access to services such as employment insurance, healthcare, and Canada Revenue, but where we live determines the specific rules and regulations of each service and what they deliver to us. When you do make that move to another province or territory, make sure that you consider everything that needs to be updated, changed and applied for, and keep all of those documents in order.


You have decided to move. Maybe you got a great new job, you want to be back with family, you met the love of your life, or, you just need a change. Whatever the reason, once you have decided to move, now is the time to start planning all aspects of your move.

Keep track of everything you do that is related to the forthcoming move. Ensure that you have a proper filing system to keep all receipts and lists close at hand. You will be communicating with a lot of people over the next few months - real estate agents, movers, government agents etc...-and you need to know where everything is. Start working out a budget; determine how much the move will cost by speaking with everyone whose service will be required for the move.

As you start looking for a new home, whether it will be a rental or a purchase, you will need the expertise of someone who knows the housing market in your new community. You will also need assistance from an agent in your current community - and this agent may be able to help you find the perfect real estate agent in your new community. The real estate agent in your new community will be a great guide to help you learn about your new community. Arrange to put your house up for sale, or, if renting, speak to your landlord and set the date when your lease will end.

If you have children, you also need to begin the registration process for them for their new school. Existing school records will be transferred to their new school, and you should speak to administrators at their current school to make arrangements for the transfer. The same advice applies to other service providers such as your doctor, dentist and veterinarian. Make sure that any delivery services, such as your daily or weekly newspaper, are stopped upon your departure. Make a list of all of the services you use in your community, such as banking and club memberships, and take the time to change or cancel them as needed.

As soon as you decide to move, start packing and purging. Make some tough decisions - what do you need, and what is no longer serving its purpose? Any unneeded items should go to charity, or to a garage sale. Moving unwanted items over a long distance will be costly, so be clear about what you want to keep in your new home. What you do want or need should be packed appropriately. If you are using professional movers, discuss the details of the move with them, to ensure that everybody understands their responsibilities and their roles. If you are moving yourself, get the proper packing supplies so that everything arrives at your new destination in one piece.


Once you have picked a new home to put down roots, or even before you find that perfect abode, there are things that need to be done. Besides signing the lease or purchase agreement, you have to ensure that other documentation is in order. Your current province/territory and your new province/territory need to be informed of the move, as now you will be subject to the laws and services of your new community. Be aware that there are fees associated with changing some of your information.

Firstly, you need to change your address with Canada Post, and this can be done online. Changing your address ensures that mail with your old address on it will be forwarded to you.

Everyone in Canada is able to access healthcare; however, each province/territory has its own rules and restrictions. Healthcare in Canada is provincially or territorially administered. Canadian residents are covered for the same basic healthcare benefits, but each province or territory may have its own supplementary health coverage. This means that where you came from may not have the same coverage as the jurisdiction to where you are moving. So, when you move you need to contact the Ministry of Health in your new jurisdiction.

You will also require a new driver's licence reflecting your new address. If you are taking your vehicle with you, you are also required to get a new registration and new licence for your vehicle.

If you are getting employment insurance, parental benefits, child tax benefits, or receiving other benefits from Service Canada, it is important that you inform them of your move as soon as possible. Getting this done quickly will mean that you will not have any interruption in your benefits. This also applies to any other monies that you may be receiving, such as disability payments and pension or veteran's benefits.

Everybody pays taxes, and the rules for each province or territory vary. How you complete your taxes currently may not be applicable in your new province, and the amount of sales tax paid on goods and services varies by jurisdiction. If you are a small business owner or self-employed, you should pay close attention to the different rules.

Visit the website of your new province or territory, or that of the Canada Revenue Agency to learn what's new.

Each province and territory has its own rules and regulations for their citizens. Find out what you need to know before you move to the province by visiting the provincial and territorial websites:

You can access online forms and applications on any of these sites, making the process of updating and changing your information much easier.

Yes, moving to another province can be a huge undertaking. But know that with the right resources, and some planning, you can make your move smoother, and instead of pangs of panic and frustration, you'll feel excited.

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