Canada 5-year fixed mortgage rate steady at 6.19%

The average interest rate on a 5-year fixed mortgage from Canada's chartered banks stood at 6.19% on 2026-11-04, according to the Bank of Canada. This rate type is one of the most widely watched borrowing benchmarks for Canadian homebuyers, because it sets the cost of a common way to lock in mortgage payments for a fixed term.

The latest reading shows no movement from the previous week. The Bank of Canada recorded the same 6.19% on 2026-10-28, and Housing Market Group's calculation from those figures puts the change between 2026-10-28 and 2026-11-04 at 0 percentage points. Earlier readings show the same level. The average was 6.19% on 2026-10-21, on 2026-10-14 and on 2026-10-07. Across every weekly figure from 2026-10-07 through 2026-11-04, the chartered bank average for this rate type did not change.

The comparison with a year earlier points the other way. On 2025-11-19, the Bank of Canada put the average 5-year fixed rate at chartered banks at 6.09%. HMG's calculation from the central bank's figures shows that the rate rose by 0.1 percentage points between 2025-11-19 and 2026-11-04. Borrowers taking out this type of mortgage in the latest period therefore faced a slightly higher average rate than those who borrowed at the same point in the previous year. Over the most recent weeks, though, the figure has held still.

For people following the housing market, the recent figures show a stable rate for 5-year fixed lending in the autumn of 2026. The rate has neither eased nor climbed week to week since 2026-10-07, while it remains above the level recorded on 2025-11-19. A flat weekly series means that borrowers comparing offers over this period were looking at the same average benchmark. The year-on-year rise of 0.1 percentage points reflects a modest change in borrowing costs rather than a large swing.

These figures cover only chartered banks and only the 5-year fixed rate type, so they describe one segment of the Canadian mortgage market. Rates offered by other kinds of lenders, or on variable and shorter-term products, may differ from this average. The Bank of Canada series gives a consistent measure for tracking this benchmark over time. The latest reading of 6.19% on 2026-11-04 extends the recent run of identical weekly values and sits 0.1 percentage points above the level seen on 2025-11-19.