Canada: posted mortgage rates vs what borrowers actually pay
Canadian banks advertise a “posted” mortgage rate that almost nobody pays. The Bank of Canada publishes both the posted rate and the rate actually charged on new lending — so the size of the fiction is measurable.
1.74percentage points between the advertised rate and the real one.
Posted 5-year6.09%
Actually charged, uninsured4.35%
Actually charged, insured4.01%
Why the posted rate exists at all
Posted rates are the published list price. In practice essentially every borrower negotiates a discount, so the posted rate functions less as a price than as a reference point — one that also feeds into mortgage penalty calculations and qualification tests, which is precisely why it matters that it is not the rate anyone pays.
The gap has ranged from 1.04pp to 2.85pp. When it widens, the advertised number is drifting further from reality.
Posted vs actually charged, 5-year fixed1975-01-01 – 2026-09-09
PostedActually charged
Table view — 220 observations
| Date | Posted | Actually charged |
|---|---|---|
| 2026-09-09 | 6.09% | — |
| 2026-06-10 | 6.09% | — |
| 2026-03-25 | 6.09% | — |
| 2026-01-07 | 6.09% | — |
| 2025-10-29 | 6.09% | — |
| 2025-08-06 | 6.09% | — |
| 2025-05-28 | 6.09% | — |
| 2025-03-12 | 6.49% | — |
| 2024-12-25 | 6.49% | — |
| 2024-10-09 | 6.49% | — |
| 2024-08-01 | — | 5.11% |
| 2024-05-22 | 6.84% | — |
| 2024-03-01 | — | 5.51% |
| 2023-12-20 | 7.04% | — |
| 2023-10-01 | — | 5.79% |
| 2023-07-19 | 6.49% | — |
| 2023-05-03 | 6.49% | — |
| 2023-02-15 | 6.49% | — |
| 2022-11-30 | 6.49% | — |
| 2022-09-14 | 6.14% | — |
| 2022-07-01 | — | 4.05% |
| 2022-04-13 | 4.79% | — |
| 2022-02-01 | — | 2.81% |
| 2021-11-10 | 4.79% | — |
| 2021-08-25 | 4.79% | — |
| 2021-06-09 | 4.79% | — |
| 2021-03-31 | 4.79% | — |
| 2021-01-13 | 4.79% | — |
| 2020-11-04 | 4.79% | — |
| 2020-08-26 | 4.79% | — |
| 2020-06-03 | 4.94% | — |
| 2020-03-18 | 5.04% | — |
| 2020-01-01 | 5.19% | 2.97% |
| 2019-10-16 | 5.19% | — |
| 2019-08-01 | — | 2.9% |
| 2019-05-22 | 5.34% | — |
| 2019-03-01 | — | 3.61% |
| 2018-12-19 | 5.34% | — |
| 2018-10-03 | 5.34% | — |
| 2018-07-18 | 5.34% | — |
| 2018-05-02 | 5.14% | — |
| 2018-02-21 | 5.14% | — |
| 2017-12-06 | 4.99% | — |
| 2017-09-20 | 4.84% | — |
| 2017-07-05 | 4.64% | — |
| 2017-04-26 | 4.64% | — |
| 2017-02-08 | 4.64% | — |
| 2016-11-23 | 4.64% | — |
| 2016-09-07 | 4.64% | — |
| 2016-06-29 | 4.64% | — |
| 2016-04-06 | 4.64% | — |
| 2016-01-27 | 4.64% | — |
| 2015-11-11 | 4.64% | — |
| 2015-09-01 | — | 2.76% |
| 2015-06-10 | 4.64% | — |
| 2015-03-25 | 4.74% | — |
| 2015-01-07 | 4.79% | — |
| 2014-10-29 | 4.79% | — |
| 2014-08-06 | 4.79% | — |
| 2014-05-28 | 4.79% | — |
| 2014-03-12 | 4.99% | — |
| 2013-12-25 | 5.34% | — |
| 2013-10-09 | 5.34% | — |
| 2013-07-31 | 5.14% | — |
| 2013-05-22 | 5.14% | — |
| 2013-03-01 | — | 3.07% |
| 2012-12-19 | 5.24% | — |
| 2012-09-19 | 5.24% | — |
| 2012-06-20 | 5.24% | — |
| 2012-03-21 | 5.24% | — |
| 2011-12-21 | 5.29% | — |
| 2011-09-21 | 5.19% | — |
| 2011-06-22 | 5.39% | — |
| 2011-03-23 | 5.34% | — |
| 2010-12-22 | 5.19% | — |
| 2010-09-22 | 5.39% | — |
| 2010-06-23 | 5.99% | — |
| 2010-03-24 | 5.25% | — |
| 2009-12-23 | 5.49% | — |
| 2009-09-23 | 5.49% | — |
| 2009-06-24 | 5.85% | — |
| 2009-03-25 | 5.55% | — |
| 2008-12-24 | 6.75% | — |
| 2008-10-01 | 7.2% | — |
| 2008-07-02 | 7.15% | — |
| 2008-04-02 | 7.19% | — |
| 2008-01-02 | 7.54% | — |
| 2007-10-03 | 7.19% | — |
| 2007-07-04 | 7.24% | — |
| 2007-04-04 | 6.44% | — |
| 2007-01-03 | 6.45% | — |
| 2006-10-04 | 6.6% | — |
| 2006-07-05 | 6.95% | — |
| 2006-04-05 | 6.45% | — |
| 2006-01-04 | 6.3% | — |
| 2005-10-05 | 5.8% | — |
| 2005-07-06 | 5.7% | — |
| 2005-04-06 | 6.25% | — |
| 2005-01-05 | 6.05% | — |
| 2004-10-06 | 6.3% | — |
| 2004-07-07 | 6.7% | — |
| 2004-04-14 | 5.95% | — |
| 2004-01-14 | 6.35% | — |
| 2003-10-15 | 6.15% | — |
| 2003-07-16 | 6.2% | — |
| 2003-04-16 | 6.85% | — |
| 2003-01-15 | 6.45% | — |
| 2002-10-16 | 6.7% | — |
| 2002-07-17 | 7.25% | — |
| 2002-04-17 | 7.3% | — |
| 2002-01-16 | 6.85% | — |
| 2001-10-17 | 7.05% | — |
| 2001-07-18 | 7.75% | — |
| 2001-04-18 | 7.5% | — |
| 2001-01-17 | 7.75% | — |
| 2000-10-18 | 8.25% | — |
| 2000-07-19 | 8.25% | — |
| 2000-04-19 | 8.35% | — |
| 2000-01-19 | 8.55% | — |
| 1999-10-27 | 8.25% | — |
| 1999-07-28 | 7.75% | — |
| 1999-04-28 | 6.95% | — |
| 1999-01-27 | 6.9% | — |
| 1998-10-28 | 6.75% | — |
| 1998-07-29 | 6.95% | — |
| 1998-04-29 | 6.95% | — |
| 1998-01-28 | 6.85% | — |
| 1997-10-29 | 6.7% | — |
| 1997-07-30 | 7% | — |
| 1997-04-30 | 7.65% | — |
| 1997-01-29 | 7.25% | — |
| 1996-10-30 | 7.2% | — |
| 1996-07-31 | 8.5% | — |
| 1996-05-01 | 8.5% | — |
| 1996-01-31 | 7.8% | — |
| 1995-11-01 | 8.7% | — |
| 1995-08-02 | 8.95% | — |
| 1995-05-10 | 8.88% | — |
| 1995-02-08 | 10.38% | — |
| 1994-11-09 | 9.9% | — |
| 1994-08-10 | 10.25% | — |
| 1994-05-11 | 9.5% | — |
| 1994-02-09 | 7.25% | — |
| 1993-11-10 | 7.75% | — |
| 1993-08-11 | 8.75% | — |
| 1993-05-12 | 8.95% | — |
| 1993-02-10 | 9.5% | — |
| 1992-11-11 | 9% | — |
| 1992-08-12 | 8.75% | — |
| 1992-05-13 | 10.25% | — |
| 1992-02-12 | 9.75% | — |
| 1991-11-13 | 9.9% | — |
| 1991-08-14 | 11.5% | — |
| 1991-05-15 | 11.25% | — |
| 1991-02-13 | 11.75% | — |
| 1990-11-14 | 13.25% | — |
| 1990-08-22 | 13.5% | — |
| 1990-05-23 | 14.25% | — |
| 1990-02-21 | 12.75% | — |
| 1989-11-22 | 11.75% | — |
| 1989-08-23 | 11.75% | — |
| 1989-05-24 | 12% | — |
| 1989-02-22 | 12.25% | — |
| 1988-11-23 | 11.75% | — |
| 1988-08-24 | 12% | — |
| 1988-05-25 | 11.25% | — |
| 1988-02-24 | 11.5% | — |
| 1987-11-25 | 11.5% | — |
| 1987-08-26 | 11.5% | — |
| 1987-05-27 | 11.25% | — |
| 1987-02-25 | 10.5% | — |
| 1986-11-26 | 11.25% | — |
| 1986-08-27 | 11% | — |
| 1986-05-28 | 10.5% | — |
| 1986-03-05 | 11.75% | — |
| 1985-12-04 | 11.75% | — |
| 1985-09-04 | 11.75% | — |
| 1985-06-05 | 12.25% | — |
| 1985-03-06 | 13.5% | — |
| 1984-12-05 | 12.75% | — |
| 1984-09-05 | 14.25% | — |
| 1984-06-06 | 14.5% | — |
| 1984-03-07 | 12.5% | — |
| 1983-12-07 | 12.5% | — |
| 1983-09-07 | 14% | — |
| 1983-06-08 | 13% | — |
| 1983-03-09 | 13.5% | — |
| 1982-12-08 | 14.5% | — |
| 1982-09-08 | 17.75% | — |
| 1982-06-09 | 19.5% | — |
| 1982-03-10 | 19.5% | — |
| 1981-12-09 | 17.75% | — |
| 1981-09-16 | 21.75% | — |
| 1981-06-17 | 18.75% | — |
| 1981-03-18 | 16% | — |
| 1980-12-17 | 15.5% | — |
| 1980-09-17 | 14.5% | — |
| 1980-06-18 | 13% | — |
| 1980-03-19 | 15.25% | — |
| 1979-12-19 | 13.25% | — |
| 1979-09-19 | 12.75% | — |
| 1979-06-20 | 11.25% | — |
| 1979-03-21 | 11% | — |
| 1978-12-20 | 11.25% | — |
| 1978-09-20 | 10.75% | — |
| 1978-06-21 | 10.25% | — |
| 1978-03-22 | 10.25% | — |
| 1977-12-21 | 10.25% | — |
| 1977-09-21 | 10.25% | — |
| 1977-06-22 | 10.25% | — |
| 1977-03-30 | 10.25% | — |
| 1976-12-29 | 10.75% | — |
| 1976-09-29 | 11.75% | — |
| 1976-06-30 | 12% | — |
| 1976-03-31 | 11.75% | — |
| 1975-12-31 | 12% | — |
| 1975-10-01 | 12% | — |
| 1975-07-02 | 11% | — |
| 1975-04-02 | 10.5% | — |
| 1975-01-01 | 12% | — |
The gap itself
Advertised minus actual2013-01-02 – 2026-09-09
Table view — 220 observations
| Date | Gap |
|---|---|
| 2026-09-09 | 1.74pp |
| 2026-08-19 | 1.74pp |
| 2026-07-22 | 1.74pp |
| 2026-07-01 | 1.74pp |
| 2026-06-10 | 1.74pp |
| 2026-05-20 | 1.79pp |
| 2026-04-22 | 1.92pp |
| 2026-04-01 | 1.92pp |
| 2026-03-11 | 1.87pp |
| 2026-02-18 | 1.78pp |
| 2026-01-21 | 1.76pp |
| 2025-12-31 | 1.78pp |
| 2025-12-10 | 1.78pp |
| 2025-11-19 | 1.83pp |
| 2025-10-22 | 1.69pp |
| 2025-10-01 | 1.69pp |
| 2025-09-10 | 1.72pp |
| 2025-08-20 | 1.78pp |
| 2025-07-23 | 1.82pp |
| 2025-07-02 | 1.82pp |
| 2025-06-11 | 1.84pp |
| 2025-05-21 | 1.85pp |
| 2025-04-23 | 2.19pp |
| 2025-04-02 | 2.19pp |
| 2025-03-12 | 1.97pp |
| 2025-02-12 | 1.88pp |
| 2025-01-22 | 1.9pp |
| 2025-01-01 | 1.9pp |
| 2024-12-11 | 1.88pp |
| 2024-11-13 | 1.81pp |
| 2024-10-23 | 1.67pp |
| 2024-10-02 | 1.67pp |
| 2024-09-11 | 1.86pp |
| 2024-08-14 | 1.68pp |
| 2024-07-24 | 1.64pp |
| 2024-07-03 | 1.64pp |
| 2024-06-12 | 1.63pp |
| 2024-05-15 | 1.5pp |
| 2024-04-24 | 1.54pp |
| 2024-04-03 | 1.54pp |
| 2024-03-13 | 1.33pp |
| 2024-02-14 | 1.27pp |
| 2024-01-24 | 1.22pp |
| 2024-01-03 | 1.37pp |
| 2023-12-13 | 1.08pp |
| 2023-11-15 | 1.04pp |
| 2023-10-25 | 1.25pp |
| 2023-10-04 | 1.25pp |
| 2023-09-13 | 1.15pp |
| 2023-08-16 | 1.33pp |
| 2023-07-26 | 1.18pp |
| 2023-07-05 | 1.18pp |
| 2023-06-07 | 1.37pp |
| 2023-05-17 | 1.45pp |
| 2023-04-26 | 1.41pp |
| 2023-04-05 | 1.41pp |
| 2023-03-08 | 1.38pp |
| 2023-02-15 | 1.4pp |
| 2023-01-25 | 1.29pp |
| 2023-01-04 | 1.29pp |
| 2022-12-07 | 1.27pp |
| 2022-11-16 | 1.32pp |
| 2022-10-26 | 1.48pp |
| 2022-10-05 | 1.13pp |
| 2022-09-07 | 1.34pp |
| 2022-08-17 | 1.7pp |
| 2022-07-27 | 2.09pp |
| 2022-07-06 | 1.99pp |
| 2022-06-08 | 1.69pp |
| 2022-05-18 | 1.58pp |
| 2022-04-27 | 1.73pp |
| 2022-04-06 | 1.53pp |
| 2022-03-09 | 1.77pp |
| 2022-02-16 | 1.98pp |
| 2022-01-26 | 2.18pp |
| 2021-12-29 | 2.28pp |
| 2021-12-08 | 2.28pp |
| 2021-11-17 | 2.44pp |
| 2021-10-27 | 2.57pp |
| 2021-09-29 | 2.46pp |
| 2021-09-08 | 2.46pp |
| 2021-08-18 | 2.48pp |
| 2021-07-28 | 2.51pp |
| 2021-06-30 | 2.65pp |
| 2021-06-09 | 2.65pp |
| 2021-05-19 | 2.68pp |
| 2021-04-28 | 2.76pp |
| 2021-03-31 | 2.83pp |
| 2021-03-10 | 2.83pp |
| 2021-02-17 | 2.85pp |
| 2021-01-27 | 2.83pp |
| 2020-12-30 | 2.82pp |
| 2020-12-09 | 2.82pp |
| 2020-11-18 | 2.79pp |
| 2020-10-28 | 2.74pp |
| 2020-09-30 | 2.64pp |
| 2020-09-09 | 2.64pp |
| 2020-08-19 | 2.53pp |
| 2020-07-22 | 2.48pp |
| 2020-07-01 | 2.48pp |
| 2020-06-10 | 2.34pp |
| 2020-05-20 | 2.25pp |
| 2020-04-22 | 2.33pp |
| 2020-04-01 | 2.33pp |
| 2020-03-11 | 2.41pp |
| 2020-02-19 | 2.23pp |
| 2020-01-22 | 2.22pp |
| 2020-01-01 | 2.22pp |
| 2019-12-11 | 2.25pp |
| 2019-11-20 | 2.29pp |
| 2019-10-23 | 2.34pp |
| 2019-10-02 | 2.34pp |
| 2019-09-11 | 2.34pp |
| 2019-08-21 | 2.29pp |
| 2019-07-24 | 2.23pp |
| 2019-07-03 | 2.38pp |
| 2019-06-12 | 2.22pp |
| 2019-05-22 | 2.08pp |
| 2019-04-24 | 1.94pp |
| 2019-04-03 | 1.94pp |
| 2019-03-13 | 1.73pp |
| 2019-02-20 | 1.63pp |
| 2019-01-23 | 1.57pp |
| 2019-01-02 | 1.57pp |
| 2018-12-12 | 1.57pp |
| 2018-11-14 | 1.57pp |
| 2018-10-24 | 1.69pp |
| 2018-10-03 | 1.69pp |
| 2018-09-12 | 1.71pp |
| 2018-08-15 | 1.76pp |
| 2018-07-25 | 1.84pp |
| 2018-07-04 | 1.84pp |
| 2018-06-13 | 1.83pp |
| 2018-05-16 | 1.87pp |
| 2018-04-25 | 1.71pp |
| 2018-04-04 | 1.71pp |
| 2018-03-14 | 1.73pp |
| 2018-02-14 | 1.76pp |
| 2018-01-24 | 1.81pp |
| 2018-01-03 | 1.66pp |
| 2017-12-13 | 1.7pp |
| 2017-11-15 | 1.77pp |
| 2017-10-25 | 1.91pp |
| 2017-10-04 | 1.81pp |
| 2017-09-13 | 1.89pp |
| 2017-08-16 | 2.06pp |
| 2017-07-26 | 2.17pp |
| 2017-07-05 | 1.97pp |
| 2017-06-07 | 1.96pp |
| 2017-05-17 | 1.91pp |
| 2017-04-26 | 1.83pp |
| 2017-04-05 | 1.83pp |
| 2017-03-08 | 1.82pp |
| 2017-02-15 | 1.84pp |
| 2017-01-25 | 1.92pp |
| 2017-01-04 | 1.92pp |
| 2016-12-07 | 2.01pp |
| 2016-11-16 | 2.07pp |
| 2016-10-26 | 2.07pp |
| 2016-10-05 | 2.07pp |
| 2016-09-07 | 2.07pp |
| 2016-08-17 | 2.16pp |
| 2016-07-27 | 2.15pp |
| 2016-07-06 | 2.15pp |
| 2016-06-08 | 2.01pp |
| 2016-05-18 | 1.94pp |
| 2016-04-27 | 1.84pp |
| 2016-04-06 | 1.84pp |
| 2016-03-09 | 1.74pp |
| 2016-02-17 | 1.71pp |
| 2016-01-27 | 1.78pp |
| 2015-12-30 | 1.82pp |
| 2015-12-09 | 1.82pp |
| 2015-11-18 | 1.87pp |
| 2015-10-28 | 1.88pp |
| 2015-09-30 | 1.88pp |
| 2015-09-09 | 1.88pp |
| 2015-08-19 | 1.88pp |
| 2015-07-29 | 1.9pp |
| 2015-07-01 | 1.9pp |
| 2015-06-10 | 1.89pp |
| 2015-05-20 | 1.89pp |
| 2015-04-29 | 1.84pp |
| 2015-04-01 | 1.94pp |
| 2015-03-11 | 1.87pp |
| 2015-02-18 | 1.83pp |
| 2015-01-28 | 1.7pp |
| 2014-12-31 | 1.69pp |
| 2014-12-10 | 1.69pp |
| 2014-11-19 | 1.68pp |
| 2014-10-29 | 1.72pp |
| 2014-10-01 | 1.72pp |
| 2014-09-10 | 1.7pp |
| 2014-08-20 | 1.7pp |
| 2014-07-30 | 1.7pp |
| 2014-07-02 | 1.7pp |
| 2014-06-11 | 1.68pp |
| 2014-05-21 | 1.65pp |
| 2014-04-23 | 1.58pp |
| 2014-04-02 | 1.78pp |
| 2014-03-12 | 1.57pp |
| 2014-02-19 | 1.67pp |
| 2014-01-22 | 1.58pp |
| 2014-01-01 | 1.68pp |
| 2013-12-11 | 1.67pp |
| 2013-11-20 | 1.69pp |
| 2013-10-23 | 1.81pp |
| 2013-10-02 | 1.81pp |
| 2013-09-11 | 1.98pp |
| 2013-08-21 | 1.95pp |
| 2013-07-24 | 2.07pp |
| 2013-07-03 | 2.07pp |
| 2013-06-12 | 2.16pp |
| 2013-05-22 | 2.15pp |
| 2013-04-24 | 2.13pp |
| 2013-04-03 | 2.13pp |
| 2013-03-13 | 2.07pp |
| 2013-02-20 | 2.08pp |
| 2013-01-23 | 2.06pp |
| 2013-01-02 | 2.06pp |
An important caveat about timing
The two series do not update at the same speed. Posted rates are published weekly; the rates actually charged come from monthly banking statistics that appear around three months in arrears. The comparison above pairs each posted observation with the most recent “actually charged” figure available at that time, which means the gap is directionally right but the most recent points lean on older actual-rate data. We do not interpolate to hide this.
Sources
- Source
- Bank of Canada
- Observation date
- Retrieved
Bank of Canada, Valet API.
Posted rates are an aggregate across the major chartered banks, not a per-institution figure — the Bank of Canada does not publish rates for individual banks. Rates charged cover new lending (“funds advanced”), not the average across existing mortgages.