Best mortgage rate in September 2026: 4.09% insured, the lowest 5-year of every major bank, and how to get it

Rates · Best rate · September 2026

The lowest rate on the market, every major bank's rate, the gap in dollars on $400,000, and the five moves that separate the posted rate from the signed one.

In mid-September 2026, the best insured 5-year fixed mortgage rate in Canada is 4.09% (Ratehub survey of 11 September), obtained through a broker channel. Among the large institutions, the lowest 5-year fixed specials read on 13 September are Desjardins and Manulife at 4.69% (Manulife 4.39% insured, CIBC 4.59% high ratio), and the lowest variable is RBC at 3.98%; the broker lender Multi-Prêts posted 4.29% on 5 years and a 3.50% variable on 14 September. The benchmarks: policy rate at 2.25% (held on 2 September, next decision 28 October), posted 5-year conventional at 6.09%, stress test at the higher of 5.25% or the rate plus 2 points. On $400,000 amortized over 25 years, the gap between the 6.09% posted rate and 4.09% negotiated is about $460 a month. The best rate is obtained by comparing several lenders, with a pre-approval that locks the rate for 90 to 120 days. Rates change without notice: the date each figure was read is stated.

The best rate, in one table

These are the rates we read, on the date stated; they change without notice and depend on the file (down payment, ratios, credit score, insured or not). Mortgage rates in Quebec in 2026 and current mortgage rates in Canada give the detail by lender.

The benchmarks that set the floor

What the best rate is worth on $400,000

On $400,000 amortized over 25 years: $2,124 a month at 4.09%, $2,167 at 4.29%, $2,581 at the 6.09% posted rate. The gap between the posted rate and the best negotiated rate is $457 a month, $27,421 over a five-year term. Our mortgage calculator (in French) redoes the math with your price and your down payment.

The five moves to get it

• Start from the special rate, never the posted one: 6.09% serves for penalties and anchoring; nobody signs at that rate.
• Play several lenders at the same time. The market's 4.09% comes from a broker channel, not a branch: a mortgage broker (in French) submits the file to several lenders, including those without branches.
• Lock the rate with a pre-approval, guaranteed 90 to 120 days: if rates fall, you take the lower one; if they rise, you keep yours.
• Qualify at the stress test: at 4.09% you are tested at 6.09%; at 4.69%, at 6.69%. Our page what salary to buy (in French) turns the test into income.
• Compare the total cost, not just the rate: penalty, prepayment privileges, portability. See the mortgage penalty and fixed or variable (in French).

What comes next

The Bank of Canada held its policy rate at 2.25% on 2 September 2026; the next decision is 28 October. Fixed rates follow bond yields, not the policy rate. Our 2027 forecast follows every announcement without inventing a figure, and this page is redone at every decision.

Frequently asked questions

What is the best mortgage rate right now?

4.09% insured 5-year fixed, Ratehub survey of 11 September 2026, through a broker channel; 4.69% at the lowest large institutions (Desjardins, Manulife) on 13 September; 3.98% variable at RBC. Rates change without notice.

Which bank offers the best mortgage rate?

On 13 September 2026, Desjardins and Manulife at 4.69% on a 5-year fixed special (Manulife 4.39% insured), CIBC 4.59% high ratio, and RBC at 3.98% variable. The market's best rate, however, came from a lender reached through a broker.

Is the best rate the same for everyone?

No: the insured rate (less than 20% down) is often lower than the conventional rate, and the credit score, debt ratios and term change the offer. Hence the point of having the same file submitted to several lenders.

Sources: Bank of Canada (decision of 2 September 2026; posted 5-year conventional), Ratehub survey of 11 September 2026, each lender's official rate page read on 13 September 2026, multi-prets.com read on 14 September 2026. This page is redone at every Bank of Canada decision; the next is 28 October 2026. It is informational: the rate you are offered depends on your file.

Our proof, not our promises

The Loaa & Manseur team, led by Lotfi Manseur and Loaa Al Daow, is the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 of large residential teams according to the official RE/MAX ranking, computed on actual transactions. Its Google profile counts more than 220 reviews with a 4.9 rating. Its offices are at 55 avenue de l'Équinoxe in Brossard, one bridge from the island, and every broker's licence can be checked in the OACIQ public register. Three things to verify yourself before calling us, and to demand of any other broker.

Also available in French: version française de ce guide.

Published September 7, 2026 by the Loaa & Manseur team, the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 according to the official RE/MAX ranking. Tell us about your project.