The Bank of Canada's most recent hike was lower than expected, much to the relief of both fixed-mortgage borrowers and variable-rate borrowers who are approaching their trigger rate.Joe Raedle/Getty Images
The Bank of Canada raised its benchmark rate by 0.5 percentage points on Wednesday, a move that increased Canadian borrowing costs for the sixth time this year.
The central bank signaled that interest rates will need to rise further to get prices under control, but provided a glimmer of hope that the pace of these increases might soon slow down. The most recent hike was lower than expected, much to the relief of both fixed-mortgage borrowers and variable-rate borrowers who are approaching their trigger rate.
As of Thursday, these are the lowest nationally available mortgage rates in Canada, from providers that advertise rates online and lend in at least nine provinces.
Insured rates apply to those buying with less than a 20 per cent down payment, or those switching a pre-existing insured mortgage to a new lender. Uninsured rates apply to refinances and purchases over $1-million and may include applicable lender rate premiums. For providers whose rates vary by province, their highest rate is shown.
With files from Robert McLister.