British Columbia Mortgage Rates

Name: True North Mortgage Historical Rates for 5 year fixed rates in British Columbia
Creator: True North Mortgage
License: https://creativecommons.org/publicdomain/zero/1.0/

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Last Updated: Apr 15, 2024

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Historical Mortgage Rates

For British Columbia - Last Updated Apr 02 2024

5 Year Variable Rate

5.99% - 7.3%

2024 (average)

5.99%

7.30%

March

5.99%

7.30%

February

5.99%

7.30%

January

5.99%

7.30%

2023 (average)

5.77%

6.96%

December

5.99%

7.30%

November

5.99%

7.30%

October

5.99%

7.30%

September

5.99%

7.30%

August

5.99%

7.30%

July

6.00%

7.19%

June

5.75%

6.85%

May

5.50%

6.60%

April

5.50%

6.60%

March

5.50%

6.60%

February

5.50%

6.60%

January

5.50%

6.60%

2022 (average)

2.94%

3.77%

December

5.25%

6.28%

November

4.75%

5.70%

October

4.75%

5.70%

September

4.25%

4.95%

August

3.50%

4.45%

July

3.50%

4.45%

June

2.46%

3.39%

May

1.95%

2.75%

April

1.78%

2.50%

March

1.13%

1.84%

February

0.99%

1.65%

January

0.99%

1.55%

2021 (average)

1.14%

1.58%

December

0.99%

1.55%

November

0.90%

1.55%

October

1.09%

1.55%

September

1.09%

1.55%

August

1.09%

1.55%

July

1.09%

1.55%

June

1.19%

1.55%

May

1.19%

1.55%

April

1.24%

1.55%

March

1.24%

1.55%

February

1.24%

1.65%

January

1.29%

1.75%

2020 (average)

1.90%

2.25%

December

1.38%

1.79%

November

1.55%

1.80%

October

1.55%

1.90%

September

1.61%

1.87%

August

1.66%

2.00%

July

1.79%

2.10%

June

1.79%

2.10%

May

1.95%

2.25%

April

2.00%

2.43%

March

2.25%

2.50%

February

2.65%

3.10%

January

2.65%

3.10%

2019 (average)

2.68%

3.20%

December

2.65%

3.10%

November

2.65%

3.10%

October

2.65%

3.10%

September

2.65%

3.10%

August

2.65%

3.10%

July

2.65%

3.10%

June

2.68%

3.10%

May

2.70%

3.20%

April

2.75%

3.20%

March

2.75%

3.35%

February

2.70%

3.45%

January

2.65%

3.45%

2018 (average)

2.35%

2.88%

December

2.65%

3.35%

November

2.65%

3.25%

October

2.55%

2.90%

September

2.40%

2.80%

August

2.40%

2.80%

July

2.40%

2.80%

June

2.15%

2.60%

May

2.21%

2.55%

April

2.21%

2.85%

March

2.21%

2.85%

February

2.21%

2.85%

January

2.21%

3.00%

2017 (average)

1.89%

2.46%

December

1.95%

2.75%

November

1.95%

2.75%

October

2.05%

2.75%

September

2.15%

2.65%

August

1.90%

2.50%

July

1.95%

2.50%

June

1.75%

2.25%

May

1.75%

2.25%

April

1.78%

2.25%

March

1.80%

2.30%

February

1.80%

2.30%

January

1.90%

2.30%

2016 (average)

2.02%

2.30%

December

1.90%

2.30%

November

1.90%

2.30%

October

1.90%

2.30%

September

1.95%

2.30%

August

1.95%

2.30%

July

1.95%

2.30%

June

2.05%

2.30%

May

2.10%

2.30%

April

2.10%

2.30%

March

2.10%

2.30%

February

2.15%

2.30%

January

2.15%

2.30%

2015 (average)

1.98%

2.15%

December

2.10%

2.20%

November

2.05%

2.15%

October

1.90%

2.05%

September

1.90%

2.05%

August

1.85%

2.05%

July

1.90%

2.15%

June

2.05%

2.15%

May

2.00%

2.15%

April

2.00%

2.15%

March

2.00%

2.15%

February

2.00%

2.25%

January

1.95%

2.30%

2014 (average)

2.30%

2.43%

December

2.15%

2.35%

November

2.15%

2.35%

October

2.15%

2.35%

September

2.25%

2.35%

August

2.25%

2.35%

July

2.30%

2.40%

June

2.40%

2.50%

May

2.40%

2.50%

April

2.40%

2.50%

March

2.40%

2.50%

February

2.40%

2.50%

January

2.40%

2.50%

5 Year Fixed Rate

4.84% - 6.89%

2024 (average)

4.87%

6.89%

March

4.79%

6.89%

February

4.92%

6.89%

January

4.90%

6.89%

2023 (average)

5.03%

6.33%

December

5.12%

6.89%

November

5.44%

6.89%

October

5.62%

6.89%

September

5.47%

6.89%

August

5.37%

6.89%

July

5.19%

6.39%

June

4.92%

5.95%

May

4.57%

5.84%

April

4.84%

5.84%

March

4.65%

5.84%

February

4.67%

5.84%

January

4.49%

5.84%

2022 (average)

4.03%

4.82%

December

4.69%

5.82%

November

4.92%

5.74%

October

5.01%

5.70%

September

4.44%

5.54%

August

4.34%

5.54%

July

4.52%

5.54%

June

4.37%

5.10%

May

3.89%

4.66%

April

3.72%

4.23%

March

3.14%

3.64%

February

2.74%

3.20%

January

2.52%

3.07%

2021 (average)

1.89%

2.43%

December

2.39%

2.94%

November

2.37%

2.91%

October

2.12%

2.56%

September

1.84%

2.39%

August

1.79%

2.39%

July

1.79%

2.39%

June

1.79%

2.39%

May

1.79%

2.39%

April

1.89%

2.39%

March

1.89%

2.32%

February

1.62%

1.99%

January

1.43%

1.99%

2020 (average)

2.02%

2.43%

December

1.49%

1.99%

November

1.59%

1.99%

October

1.59%

2.04%

September

1.79%

2.04%

August

1.79%

2.19%

July

1.89%

2.39%

June

1.99%

2.39%

May

2.24%

2.59%

April

2.44%

2.89%

March

2.29%

2.84%

February

2.44%

2.84%

January

2.64%

2.99%

2019 (average)

2.72%

3.09%

December

2.39%

2.89%

November

2.29%

2.94%

October

2.54%

2.94%

September

2.49%

2.84%

August

2.39%

2.79%

July

2.49%

2.84%

June

2.59%

2.84%

May

2.79%

3.09%

April

2.89%

3.19%

March

3.14%

3.39%

February

3.34%

3.59%

January

3.29%

3.72%

2018 (average)

3.15%

3.62%

December

3.39%

3.82%

November

3.49%

3.84%

October

3.19%

3.64%

September

3.19%

3.67%

August

3.19%

3.67%

July

3.14%

3.64%

June

3.14%

3.64%

May

3.14%

3.64%

April

2.99%

3.54%

March

2.99%

3.54%

February

3.09%

3.49%

January

2.89%

3.34%

2017 (average)

2.54%

2.87%

December

2.79%

3.29%

November

2.69%

3.29%

October

2.84%

3.29%

September

2.84%

3.20%

August

2.59%

2.99%

July

2.64%

2.69%

June

2.39%

2.49%

May

2.24%

2.49%

April

2.29%

2.59%

March

2.39%

2.74%

February

2.39%

2.74%

January

2.44%

2.69%

2016 (average)

2.30%

2.56%

December

2.44%

2.64%

November

2.29%

2.39%

October

2.14%

2.39%

September

2.14%

2.49%

August

2.24%

2.49%

July

2.24%

2.49%

June

2.24%

2.59%

May

2.34%

2.59%

April

2.34%

2.59%

March

2.34%

2.69%

February

2.39%

2.69%

January

2.44%

2.69%

2015 (average)

2.45%

2.65%

December

2.54%

2.69%

November

2.44%

2.69%

October

2.29%

2.59%

September

2.39%

2.59%

August

2.39%

2.59%

July

2.39%

2.59%

June

2.44%

2.59%

May

2.44%

2.59%

April

2.44%

2.69%

March

2.49%

2.69%

February

2.59%

2.69%

January

2.59%

2.79%

2014 (average)

2.88%

3.02%

December

2.74%

2.89%

November

2.74%

2.89%

October

2.74%

2.89%

September

2.74%

2.89%

August

2.74%

2.89%

July

2.79%

2.99%

June

2.94%

3.09%

May

2.94%

3.09%

April

2.94%

3.09%

March

2.94%

3.09%

February

3.09%

3.19%

January

3.19%

3.29%

Beautiful British Columbia: A desirable housing market, tougher affordability.

The housing markets in BC saw Q4 2023 average sales down just over 9% and an average price decline of 2.6% compared to last year — as higher interest rates eroded affordability. Yet, many regions still logged price increases year-over-year, as demand continued to outstrip supply. New multi-family construction jumped in more populated centres by about 71%, facing pressure from the housing 'have-nots' that something is done to offer more homes.

Higher mortgage rates combined with higher prices mean that many BC centres (especially Greater Vancouver) are more challenging for first-time home buyers. What will happen when buyers come out this spring and interest rates start to decline? Investors under pressure from higher mortgage payments may look to sell, and Airbnb restrictions may lead to higher listings, opening up more homes as primary residences.

Data Source: Sagen Housing Market Updates

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