Rates · Quebec · 2026
The four benchmarks that set rates in Quebec this year, the 5-year offer of every major lender read on 13 September 2026, what negotiating is worth on $400,000, and what comes next before the end of 2026.
In mid-September 2026, mortgage rates in Quebec read with four benchmarks: the Bank of Canada policy rate at 2.25% (held on 2 September), the posted 5-year conventional rate at 6.09%, unchanged since 7 January 2026, the best insured 5-year fixed rate on the market at 4.09% (Ratehub, 11 September), and the stress test at the higher of 5.25% or the rate plus 2 points. The 5-year fixed offers of the large institutions read on 13 September run from 4.69% (Desjardins, Manulife) to 4.99% (Laurentian), variables from 3.98% (RBC) to 4.45%; the broker lender Multi-Prêts posted 4.29% on 5 years and a 3.50% variable on 14 September. The next Bank of Canada decision is 28 October 2026. Rates change without notice: the date each figure was read is stated on this page.
| Benchmark | Rate | Date and source |
|---|---|---|
| Bank of Canada policy rate | 2.25% | Decision of 2 September 2026 (held); next decision 28 October 2026 |
| Posted 5-year conventional rate (Bank of Canada) | 6.09% | Unchanged since 7 January 2026 |
| Best insured 5-year fixed on the market | 4.09% | Ratehub survey, 11 September 2026 |
| Stress test | higher of 5.25% or your rate + 2 points | Federal rule, in force |
The posted rate and the rate you sign are not the same number: the 6.09% posted rate mostly serves to calculate penalties and to anchor negotiation; real mortgages are signed between roughly 4.1% and 4.9% in September 2026 depending on the lender, the term, the down payment and the file. Our daily rates page follows these benchmarks at every decision, and current mortgage rates in Canada gives this month's detail.
| Lender | Posted 5-year | Special 5-year fixed | Variable | Details |
|---|---|---|---|---|
| TD | 6.09% | 4.94% | 4.24% | full grid |
| RBC | 6.09% | 4.89% | 3.98% | full grid |
| BMO | not posted | 4.84% | 4.10% | full grid |
| Desjardins | 6.14% | 4.69% | 4.10% | full grid |
| National Bank | 6.09% | 4.84% | 4.10% | full grid |
| Scotiabank | 6.09% | 4.90% | 5.95% | full grid |
| CIBC | not posted | 4.94% | 4.05% | full grid |
| Laurentian Bank | 6.29% | 4.99% | 4.10% | full grid |
| Manulife Bank | not posted | 4.69% | 4.45% | full grid |
| First National | 5.14% | 4.79% | prime less 0.75 of a point | full grid |
Read on 13 September 2026 on each lender's official site; each line links to the full grid by term. Two broker lenders complete the picture: Multi-Prêts posted 4.59% on 1 year, 4.09% on 3 years, 4.29% on 5 years, 4.59% on 7 years and a 3.50% variable on 14 September 2026, and First National, the largest non-bank lender, is reachable only through a mortgage broker.
On a $400,000 mortgage amortized over 25 years, the best insured rate of 4.09% gives a payment of about $2,124 a month; Multi-Prêts' 4.29% gives $2,167; the 6.09% posted rate would give $2,581. 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 redoes the math with your own price, down payment and the insurance premium when it applies.
The Bank of Canada held its policy rate at 2.25% on 2 September 2026; its next decision, with the Monetary Policy Report, is 28 October, then a last one in December. Fixed rates follow bond yields rather than the policy rate. Our Bank of Canada rate forecast for 2027 follows every announcement without predicting a number we cannot source, and our guide fixed or variable runs the calculation on your amount.
It depends on the lender and the term. The benchmarks: policy rate 2.25%, posted 5-year conventional 6.09%, best insured 5-year fixed 4.09% on 11 September 2026, and 5-year fixed offers of 4.69% to 4.99% at the large institutions on 13 September, with variables from 3.98% to 4.45%.
The Bank of Canada held its rate at 2.25% on 2 September; the next decision is 28 October 2026. Fixed rates depend on bonds. Our 2027 forecast follows every announcement without inventing a number.
On 13 September 2026, the lowest big-institution special 5-year fixed rates were Desjardins and Manulife at 4.69% (Manulife 4.39% insured, CIBC 4.59% high ratio), and the lowest variable was RBC at 3.98%. The best insured rate on the whole market, 4.09%, came from a broker channel. Rates change without notice.
Sources: Bank of Canada (decision of 2 September 2026; posted 5-year conventional rate), Ratehub survey of 11 September 2026, each lender's official rates 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 one is 28 October 2026.
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.