Canada mortgage rate holds at 6.19% in November 2026

The average interest rate on a 5-year fixed mortgage at Canada's chartered banks was 6.19% on 11 November 2026, according to the Bank of Canada. The figure tracks the typical rate charged by the country's large banks on one of the most widely used mortgage products in the Canadian market.

Compared with the previous reading, the rate did not move. Bank of Canada data show the same 6.19% on 4 November 2026, and Housing Market Group's calculation from those figures puts the change between 4 November and 11 November 2026 at 0 percentage points. The flat reading is part of a longer stretch of stability. The rate was also 6.19% on 28 October, 21 October and 14 October 2026, so it has stayed at the same level at every weekly reading from mid-October through to the latest one in November.

Over a longer horizon the picture shows a small increase rather than a fall. On 26 November 2025 the Bank of Canada recorded an average 5-year fixed rate of 6.09% at chartered banks. Based on HMG's calculation from the central bank's figures, the rate on 11 November 2026 was 0.1 percentage points higher than at that point. This means fixed borrowing costs at the major banks are marginally above where they stood roughly a year earlier, even though the most recent weeks have shown no change at all.

For households comparing mortgage offers, the data point to a period of steady pricing at the chartered banks in late 2026. A fixed rate that holds unchanged from one weekly reading to the next gives borrowers a stable reference point when looking at quotes. At the same time, the year-on-year comparison shows that the rate has not returned to its level of 26 November 2025.

The figures cover only one lender type and one rate type. They describe the average 5-year fixed rate at chartered banks and do not show rates offered by other lenders, variable-rate products or terms of a different length. They also do not show differences between provinces or cities. The Bank of Canada data reflect the national average across the chartered banks it tracks, and individual offers can differ from that average depending on the lender and the borrower.