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Mortgage Rates

MCAP offers competitive rates — plus other mortgage features — to help you finance your next home.

There’s more to consider than rates

When buying a home, mortgage rates are an important part of the conversation — but they’re not the whole story. When choosing a mortgage, it’s also important to consider:

  • The flexibility of the payment schedule
  • Available options to pay down the mortgage faster
  • Whether you can take your mortgage with you when you move

View MCAP mortgages

Finding the right mortgage

Do you prefer the stability of a fixed rate or the flexibility of a variable rate? Are you planning to be in your home for a long time or only for a specific period of time? Your priorities, goals, and lifestyle all factor into your mortgage decision. A broker can help guide you to the mortgage that’s right for you.

Find a mortgage broker

Fixed vs. Adjustable Rate Mortgages

Before deciding whether a fixed or adjustable rate mortgage is right for you, take a look at the features of each mortgage type below.


+ The interest rate is locked in for the full term of the mortgage

+ Principal and interest payments are guaranteed not to change throughout your term

+ You have the option to pay down your mortgage faster with certain lump-sum and pre-payment privileges


+ If interest rates fluctuate up or down your mortgage rate will do the same

+ Your regular payment will also go up or down in relation to the rise and fall of interest rates

+ Provides the option to convert to a fixed rate mortgage anytime — so you can take advantage of falling rates

+ You have the option to pay down your mortgage faster with certain lump-sum and pre-payment privileges

Discover how much your mortgage payments could be and compare different mortgage options to find what works best for you.

Current prime rate

The prime rate is the annual interest rate that major banks and lenders within Canada use to set variable-rate mortgages, such as the MCAP adjustable rate mortgage. The prime rate is influenced by the rate set by the Bank of Canada.
View historical rates

MCAP Prime Rate


Effective July 13, 2023

Talk to a broker for our current rates

MCAP mortgage brokers can walk you through our current mortgage rates and help you choose a mortgage that meets your needs.