Guides
Big-bank mortgage guides
Short answer: Start with your question: bank, broker or monoline; the stress test; insured mortgages; posted vs special rates; IRD penalties; porting; HELOCs; renewal; fixed or variable. Each guide answers first, works an example with numbers from our engine, and links to OSFI, CMHC, FCAC and the banks’ own pages.
Plain-English explainers built from OSFI, the Department of Finance, CMHC, FCAC, the Bank of Canada, provincial regulators and the banks’ own pages.
Bank, mortgage broker or monoline lender: who should you get your mortgage from?
How big-bank mortgages, mortgage brokers and monoline lenders differ in Canada: who regulates them, how brokers are paid, penalties and what to compare.
ExplainerThe mortgage stress test, explained
How Canada’s mortgage stress test works in 2026: the 5.25% floor or contract rate + 2%, insured vs uninsured rules, the 2024 switch exemption and OSFI’s LTI limits.
ExplainerInsured mortgages: down payments, CMHC premiums and the 2024 rules
Minimum down payments, the $1.5M insured price cap, 30-year amortization for first-time buyers and new builds, and CMHC’s premium table, from official sources.
ExplainerPosted rates vs special rates: what the big banks’ numbers mean
What a bank’s posted mortgage rate is, why few people pay it, and why it still matters for your penalty. Bank of Canada’s 5-year posted series was 6.19% on 2026-11-11.
ExplainerIRD vs 3 months’ interest: how mortgage prepayment penalties work
How Canadian lenders calculate the penalty to break a closed mortgage: 3 months’ interest, the IRD, posted-rate vs contract-rate methods, and how to pay less.
ExplainerPorting a mortgage: what the big banks allow when you move
How mortgage portability works at RBC, TD, Scotiabank, BMO, CIBC and National Bank: time limits, blended rates on new money, and when you still pay a penalty.
GuideFirst-time buyer’s guide to a big-bank mortgage
What first-time buyers need for a big-bank mortgage in 2026: minimum down payment, CMHC insurance, 30-year amortization, the stress test and pre-approval.
GuideMortgage renewal guide: renew, switch or refinance
What to do when your big-bank mortgage term ends: the 21-day renewal statement, switching without a new stress test, costs to compare, and a free checklist.
GuideFixed-rate mortgages at Canada’s big banks
How fixed mortgage rates work at the big banks: terms, semi-annual compounding, posted vs offered rates and IRD penalties. 5-year posted (BoC): 6.19%, 2026-11-11.
GuideVariable-rate mortgages at Canada’s big banks
Variable mortgages at the big banks: prime ± a spread, adjustable vs fixed payments, 3 months’ interest penalties. Policy rate 2.50% from 2026-10-29.
DataTen years of bank mortgage rates in Canada
Bank of Canada data since 2016: posted 5-year rate, prime and policy rate. Latest: posted 5-year 6.19%, prime 4.70% (2026-10-29).
ExplainerHELOCs and readvanceable mortgages at the big banks
How each bank combines a mortgage with a line of credit, and the 65% / 80% limits.
Worked example: why the guides keep coming back to the posted rate
$480,000 at 5.29%, 30 months left, signed at a 6.89% posted rate. Using TD’s 3-year posted 6.15% and special 5.24% (November 2, 2026), a posted-rate IRD (how the big banks describe theirs) comes to $8,880; a contract-rate IRD, which many monoline lenders use, comes to $6,348. The guides on posted vs special rates and on IRD explain where that $2,532 comes from.
Computed by this site’s engine from each bank’s published rates (November 2, 2026). An example, not a quote.
