Rates · BMO · September 13, 2026
The BMO rate you see in the window and the one you sign are not the same number. Here is the grid read on 13 September 2026, and what it is worth against the market.
As at 13 September 2026, BMO publishes a 5 year fixed mortgage rate on special offer at 4.84%, and a variable rate at 4.10%. The best insured 5 year fixed rate on the Canadian market is 4.09% the same week, and the posted conventional rate published by the Bank of Canada is 6.09%. On $400,000 amortized over 25 years, the BMO special offer costs about $2,290 a month, $166 more than the best rate on the market. The posted rate mostly serves as a reference for penalties; the real rate is negotiated on the down payment, the credit score and competition, and every borrower is tested at the higher of 5.25% or their rate plus 2 points.
Here is the grid read on 13 September 2026 on bmo.com, “Current mortgage rates” page. It separates the posted rate, the one the bank publishes for everyone, from the special or promotional rate, the one it grants a file that qualifies. BMO does not put a 6% posted rate in the window, only its offers, the special offer 4.84%, and the variable 4.10% (amortization of 25 years or less; 4.20% beyond 25 years). The prime rate the variable is built on is 4.45% (the BMO mortgage prime rate).
| Term | Posted rate | Special or promotional rate |
|---|---|---|
| 3 year fixed closed | 4.64% (25 years or less) | 4.74% if amortization over 25 years |
| 5 year fixed Smart Fixed, insured | 4.74% | none |
| 5 year fixed Smart Fixed, 25 years or less | 4.84% | none |
| 5 year closed variable | 4.10% | 4.20% if amortization over 25 years |
Rates read on 13 September 2026 and subject to change without notice. The APR the bank publishes is slightly higher than the interest rate because it includes certain fees.
4.84% as an offer, with no posted grid beside it. Three benchmarks from the same week place BMO in context: the best insured 5 year fixed rate on the Canadian market was 4.09% (Ratehub survey of 11 September 2026), the posted 5 year conventional rate published by the Bank of Canada is 6.09%, unchanged since 7 January 2026, and the policy rate has been 2.25% since the decision of 2 September.
On a $400,000 mortgage amortized over 25 years, the 4.84% five year special at BMO works out to about $2,290 a month, against $2,124 at the best rate on the market: $166 more every month, or $9,989 over the five year term. And if you accepted the 6.09% posted rate, the payment would climb to $2,581. That is the exact measure of what negotiating is worth.
BMO shows its featured rates without a 6% posted rate beside them: the insured five year fixed is 4.74% and the conventional 4.84%. What sets it apart is how it prices a long amortization: anything past 25 years costs 10 basis points more, on the fixed and on the variable alike. BMO also advertises a cash bonus of up to $5,000 with an eligible account, a commercial offer that does not change the rate.
The variable at BMO is 4.10% (amortization of 25 years or less; 4.20% beyond 25 years). A variable rate follows the lender's prime rate, which itself follows the Bank of Canada policy rate: when the Bank moves a quarter point, your rate moves within days. The next decision is 28 October 2026, with the Monetary Policy Report. Our guide fixed or variable runs the math on your own amount, and our Bank of Canada rate forecast follows every announcement.
To redo these calculations with your own price and down payment, use our mortgage calculator, which adds the mortgage insurance premium when it applies.
As at 13 September 2026, BMO shows a 5 year fixed on special offer at 4.84%, and a variable at 4.10%. These rates change without notice; the full grid read on 13 September is in the table above, and the source is the lender's official site.
No. The best insured 5 year fixed rate on the market was 4.09% on 11 September 2026, which is 75 basis points below the BMO special offer. That gap is negotiable, directly or through a mortgage broker who compares several lenders.
The posted rate is the reference used to calculate the interest rate differential on a penalty and to anchor the discussion. Almost nobody pays the posted rate on a new mortgage: the Bank of Canada publishes a posted 5 year conventional rate of 6.09% while real mortgages are signed between roughly 4.1% and 4.9%.
Rates read on 13 September 2026 on bmo.com, “Current mortgage rates” page. Market benchmarks: Bank of Canada (policy rate decision of 2 September 2026, posted 5 year conventional rate), Ratehub survey of 11 September 2026 for the best insured rate. This page is redone at every Bank of Canada decision; the next one is 28 October 2026. It is informational: the rate you are offered depends on your own file.
To put these numbers in context: our daily mortgage rates page tracks the best rates on the market and is updated at every Bank of Canada decision, and our complete guide to the Quebec mortgage explains each lever: pre-approval, down payment, insurance, fixed or variable, penalty and renewal.
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.
Équipe no 1 de RE/MAX Platine en 2024 et en 2025, 6e au Québec, 15e au Canada et dans le top 50 mondial au classement officiel RE/MAX. Réponse en moins de 24 heures, sept jours sur sept.