Canada fixed mortgage rate steady at 6.19% in October 2026

The average 5-year fixed mortgage interest rate offered by Canada's chartered banks stood at 6.19% on 28 October 2026, according to the Bank of Canada. The reading matched the figure for 21 October 2026. Housing Market Group calculates the week-on-week change at 0 percentage points.

The latest reading continues a stable run through October. Bank of Canada figures show the same 6.19% average on 7 October, 14 October and 21 October 2026, so the rate did not move at any weekly reading that month. For borrowers comparing offers at the big lenders, this points to a period of steady pricing for the 5-year fixed product during October rather than week-to-week swings.

The shift came at the turn of the month. On 30 September 2026 the Bank of Canada recorded the chartered banks' average 5-year fixed rate at 6.09%. By 7 October 2026 it had moved up to 6.19%, the level it then held for the rest of October. In other words, the step up happened between the last reading of September and the first reading of October, and the rate has stayed put since.

Looking further back, the rate is only slightly higher than it was around the same time last year. On 12 November 2025 the Bank of Canada reported an average of 6.09% for this product, the same level seen on 30 September 2026. Housing Market Group calculates that the rate on 28 October 2026 was 0.1 percentage points above the 12 November 2025 figure. That modest gap suggests the cost of a 5-year fixed mortgage at Canada's chartered banks has moved within a narrow band over that period, with the September reading sitting back at the year-earlier level before the October rise.

These figures cover the 5-year fixed rate at chartered banks only, as published by the Bank of Canada. They do not show rates from other types of lenders, variable or shorter-term products, or differences between provinces and cities, all of which can vary from the average described here. The data set used for this article also does not include comparisons with other countries or Housing Market Group platform measures such as search demand or listings, so it gives a view of bank lending costs rather than of wider market activity. Readers weighing mortgage options may find it useful to check how individual lenders' offers compare with this average.