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Québec Mortgage Rates

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Last Updated: May 22, 2024

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It makes sense to save more with our lower mortgage rates in Québec.

Whether you’re investing in a first home, your next home, or an income or vacation property — our lower mortgage rates can help save you thousands. How do we do that? By dealing with all the banks on your behalf. We have the flexibility to quickly find your best rate, lender and mortgage option — regardless if your needs are straightforward or complex.

Then, we pass along our volume discount to help lower your rate. Even a fraction lower can make a big difference over the long term.

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It's true, we may be able to lower your rate with your current lender. In fact, our rates are 0.20% better on average compared to the competition. Plus, our service is free and comes with no obligation.

Can't decide between a variable or fixed rate? Or what length of mortgage term to take? Or perhaps you don't fit the 'big-bank' mold? Talk to your expert True North Mortgage broker for great savings advice about one of the biggest financial decisions you'll likely face.

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Hold your lower rate now, to beat the clock.

In Québec, mortgage interest rates can change quickly — it's hard to predict where rates may be in a few weeks or months. If you're a first-time buyer, buying your next home, or renewing or refinancing — get in touch with us right away.

The sooner you contact us, the sooner your expert True North Mortgage broker can hold your rates for up to 4 months (depending on the lender). You'll have peace of mind while you look for your home or investment, plus get great advice on everything from down payment strategies to the flexible mortgage options you need to save more.

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Historical Mortgage Rates

For Quebec - Last Updated May 16 2024

5 Year Fixed Rate

4.74% - 5.39%

  2024 (average)

4.80%

5.49%

  April

4.74%

5.39%

  March

4.74%

5.39%

  February

4.84%

5.49%

  January

4.89%

5.69%

  2023 (average)

5.02%

5.59%

  December

5.13%

6.02%

  November

5.46%

6.19%

  October

5.62%

6.12%

  September

5.54%

5.94%

  August

5.32%

5.84%

  July

5.08%

5.72%

  June

4.82%

5.29%

  May

4.47%

4.97%

  April

4.64%

5.19%

  March

4.69%

5.19%

  February

4.89%

5.19%

  January

4.59%

5.39%

  2022 (average)

4.05%

4.52%

  December

4.69%

5.39%

  November

5.01%

5.39%

  October

5.08%

5.37%

  September

4.59%

5.27%

  August

4.34%

5.29%

  July

4.52%

5.22%

  June

4.52%

4.90%

  May

3.86%

4.17%

  April

3.77%

3.94%

  March

3.10%

3.48%

  February

2.65%

2.97%

  January

2.49%

2.79%

  2021 (average)

1.87%

2.16%

  December

2.34%

2.74%

  November

2.34%

2.59%

  October

2.04%

2.38%

  September

1.84%

2.09%

  August

1.79%

2.09%

  July

1.79%

2.09%

  June

1.79%

2.09%

  May

1.79%

2.09%

  April

1.84%

2.09%

  March

1.84%

2.09%

  February

1.57%

1.87%

  January

1.42%

1.76%

  2020 (average)

2.04%

2.39%

  December

1.49%

1.79%

  November

1.49%

1.89%

  October

1.59%

1.89%

  September

1.67%

1.97%

  August

1.74%

2.09%

  July

2.02%

2.47%

  June

2.02%

2.47%

  May

2.29%

2.64%

  April

2.47%

2.76%

  March

2.53%

2.80%

  February

2.49%

2.89%

  January

2.69%

3.04%

  2019 (average)

2.80%

3.09%

  December

2.70%

2.93%

  November

2.39%

2.84%

  October

2.57%

2.79%

  September

2.52%

2.77%

  August

2.39%

2.74%

  July

2.50%

2.84%

  June

2.94%

3.14%

  May

2.82%

3.12%

  April

3.09%

3.39%

  March

3.09%

3.39%

  February

3.27%

3.59%

  January

3.39%

3.59%

  2018 (average)

3.24%

3.45%

  December

3.79%

3.82%

  November

3.39%

3.59%

  October

3.31%

3.59%

  September

3.17%

3.54%

  August

3.17%

3.54%

  July

3.17%

3.54%

  June

3.14%

3.44%

  May

3.22%

3.44%

  April

3.14%

3.27%

  March

3.14%

3.27%

  February

3.14%

3.27%

  January

3.14%

3.14%

  2017 (average)

2.61%

2.80%

  December

3.07%

3.09%

  November

2.77%

3.09%

  October

2.86%

2.92%

  September

2.86%

2.92%

  August

2.64%

2.89%

  July

2.56%

2.84%

  June

2.24%

2.54%

  May

2.39%

2.63%

  April

2.49%

2.64%

  March

2.49%

2.69%

  February

2.49%

2.69%

  January

2.49%

2.69%

  2016 (average)

2.37%

2.55%

  December

2.49%

2.69%

  November

2.32%

2.47%

  October

2.17%

2.32%

  September

2.29%

2.49%

  August

2.29%

2.49%

  July

2.29%

2.49%

  June

2.29%

2.49%

  May

2.34%

2.59%

  April

2.44%

2.62%

  March

2.44%

2.62%

  February

2.52%

2.67%

  January

2.61%

2.71%

  2015 (average)

2.54%

2.68%

  December

2.52%

2.70%

  November

2.52%

2.70%

  October

2.47%

2.59%

  September

2.39%

2.59%

  August

2.39%

2.59%

  July

2.44%

2.64%

  June

2.49%

2.69%

  May

2.64%

2.69%

  April

2.64%

2.69%

  March

2.64%

2.74%

  February

2.64%

2.74%

  January

2.73%

2.80%

  2014 (average)

2.98%

3.04%

  December

2.77%

2.94%

  November

2.84%

2.89%

  October

2.84%

2.89%

  September

2.84%

2.89%

  August

2.84%

2.89%

  July

2.92%

3.00%

  June

2.92%

3.00%

  May

2.92%

3.00%

  April

3.01%

3.07%

  March

3.19%

3.19%

  February

3.29%

3.29%

  January

3.35%

3.45%

5 Year Variable Rate

6.05% - 6.9%

  2024 (average)

6.05%

6.90%

  April

6.05%

6.90%

  March

6.05%

6.90%

  February

6.05%

6.90%

  January

6.05%

6.90%

  2023 (average)

5.85%

6.54%

  December

6.05%

6.90%

  November

6.05%

6.90%

  October

6.05%

6.90%

  September

6.10%

6.90%

  August

6.10%

6.90%

  July

6.10%

6.90%

  June

5.82%

6.48%

  May

5.60%

6.15%

  April

5.55%

6.15%

  March

5.70%

6.15%

  February

5.55%

6.15%

  January

5.53%

6.03%

  2022 (average)

2.89%

3.64%

  December

4.80%

5.40%

  November

4.80%

5.40%

  October

4.63%

5.23%

  September

4.30%

5.05%

  August

3.55%

4.40%

  July

3.55%

4.25%

  June

2.55%

3.10%

  May

2.05%

2.60%

  April

1.72%

2.15%

  March

1.32%

1.82%

  February

1.05%

1.45%

  January

1.04%

1.49%

  2021 (average)

1.15%

1.39%

  December

1.15%

1.38%

  November

0.90%

1.35%

  October

1.09%

1.34%

  September

1.09%

1.30%

  August

1.15%

1.35%

  July

1.15%

1.33%

  June

1.20%

1.35%

  May

1.20%

1.43%

  April

1.20%

1.43%

  March

1.20%

1.43%

  February

1.20%

1.43%

  January

1.28%

1.60%

  2020 (average)

1.92%

2.21%

  December

1.43%

1.72%

  November

1.50%

1.80%

  October

1.50%

1.80%

  September

1.60%

1.80%

  August

1.60%

1.85%

  July

1.85%

2.13%

  June

1.85%

2.13%

  May

2.07%

2.30%

  April

2.07%

2.30%

  March

2.21%

2.59%

  February

2.65%

3.00%

  January

2.70%

3.05%

  2019 (average)

2.76%

3.00%

  December

2.78%

2.98%

  November

2.50%

2.95%

  October

2.70%

2.95%

  September

2.70%

2.95%

  August

2.70%

2.95%

  July

2.70%

2.95%

  June

3.35%

3.35%

  May

2.70%

3.00%

  April

2.75%

3.00%

  March

2.75%

3.00%

  February

2.75%

3.00%

  January

2.79%

2.96%

  2018 (average)

2.45%

2.77%

  December

3.20%

3.23%

  November

2.71%

2.90%

  October

2.71%

2.90%

  September

2.46%

2.77%

  August

2.46%

2.77%

  July

2.46%

2.77%

  June

2.21%

2.55%

  May

2.21%

2.60%

  April

2.21%

2.70%

  March

2.21%

2.70%

  February

2.21%

2.70%

  January

2.30%

2.70%

  2017 (average)

2.01%

2.35%

  December

2.30%

2.45%

  November

2.02%

2.45%

  October

2.25%

2.56%

  September

2.25%

2.56%

  August

1.95%

2.40%

  July

1.92%

2.22%

  June

1.85%

2.18%

  May

1.85%

2.18%

  April

1.90%

2.30%

  March

1.90%

2.30%

  February

1.90%

2.30%

  January

2.00%

2.30%

  2016 (average)

2.08%

2.26%

  December

2.05%

2.23%

  November

2.01%

2.19%

  October

2.01%

2.19%

  September

2.01%

2.19%

  August

2.01%

2.19%

  July

2.01%

2.19%

  June

2.01%

2.19%

  May

2.15%

2.35%

  April

2.20%

2.35%

  March

2.20%

2.35%

  February

2.15%

2.35%

  January

2.22%

2.35%

  2015 (average)

2.01%

2.16%

  December

2.10%

2.25%

  November

2.03%

2.15%

  October

1.95%

2.05%

  September

1.95%

2.05%

  August

1.85%

2.05%

  July

1.88%

2.05%

  June

2.03%

2.20%

  May

2.05%

2.20%

  April

2.05%

2.20%

  March

2.05%

2.20%

  February

2.05%

2.20%

  January

2.18%

2.30%

  2014 (average)

2.37%

2.44%

  December

2.18%

2.30%

  November

2.30%

2.35%

  October

2.30%

2.35%

  September

2.30%

2.35%

  August

2.30%

2.35%

  July

2.38%

2.50%

  June

2.38%

2.50%

  May

2.38%

2.50%

  April

2.45%

2.50%

  March

2.50%

2.50%

  February

2.50%

2.50%

  January

2.50%

2.60%

A province steeped in history: Québec housing market remains resilient.

Across Quebec, housing market activity in Q1 of 2024 continued at a brisker pace, logging a 21% increase in the provincial sales average compared to this time last year. Almost all major centres showed a sales bump up, with Sherbrooke (+62.0%), Quebéc City (+38%), and Montreal (+25%) leading the way. Most areas also moved into seller's market territory, with the exception of Gatineau.

With the surge in sales came a corresponding increase in home prices. The provincial home price average was up by over 8.0% from last year to $507,868, with increases in all major centres (Trois-Rivieres saw the highest increase of 24%). This robust activity is despite higher mortgage rates and a swell of new listings (by an average of 30%).

Are higher interest rates still holding Quebéc's markets back? We wait and watch for the timing of interest rate drops.

Data source: Sagen Housing Market Updates

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