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Life InsuranceVariable closed: 2.60% 1 year closed: 2.74% 3 year closed: 2.59% 5 year closed: 3.04% 10 year special: 3.58% 
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Mortgage Rate History
History of Average Variable vs 5 Year Mortgage Rates Since 2003
Since the beginning of 2003, we have aggregated an average of mortgage rates of products qualified for by our Canadian clients on both 5 year and variable rate mortgages. Here is a table spanning over ten years of mortgage rate history:
| Year | Variable Rate | 5 Year Rate | Best Rate? | Best Over Worst |
| 2013 | 3.00% | 5.18% | Variable | 2.18 percentage points |
| 2012 | 3.00% | 5.27% | Variable | 2.27 percentage points |
| 2011 | 3.00% | 5.40% | Variable | 2.40 percentage points |
| 2010 | 2.60% | 5.57% | Variable | 2.97 percentage points |
| 2009 | 2.42% | 5.72% | Variable | 3.30 percentage points |
| 2008 | 4.79% | 7.10% | Variable | 2.31 percentage points |
| 2007 | 6.10% | 7.01% | Variable | 0.91 percentage points |
| 2006 | 5.76% | 6.64% | Variable | 0.88 percentage points |
| 2005 | 4.40% | 5.98% | Variable | 1.58 percentage points |
| 2004 | 4.00% | 6.26% | Variable | 2.26 percentage points |
| 2003 | 4.64% | 6.33% | Variable | 1.69 percentage points |
Posted Mortgage Rates for 1, 3, and 5 Year Terms
Here are the average 1, 3, and 5 year term mortgage rates over the last ten years:
| Year | 1 Year Rate | 3 Year Rate | 5 Year Rate | Best Rate? | Best Over Worst |
| 2013 | 3.00% | 3.60% | 5.18% | 1 Year Rate | 2.18 percentage points |
| 2012 | 3.18% | 3.91% | 5.27% | 1 Year Rate | 2.09 percentage points |
| 2011 | 3.53% | 4.29% | 5.40% | 1 Year Rate | 1.87 percentage points |
| 2010 | 3.49% | 4.28% | 5.57% | 1 Year Rate | 2.08 percentage points |
| 2009 | 4.10% | 4.64% | 5.72% | 1 Year Rate | 1.62 percentage points |
| 2008 | 6.72% | 6.91% | 7.10% | 1 Year Rate | 0.38 percentage points |
| 2007 | 6.86% | 7.03% | 7.01% | 1 Year Rate | 0.17 percentage points |
| 2006 | 6.26% | 6.42% | 6.64% | 1 Year Rate | 0.38 percentage points |
| 2005 | 5.01% | 5.56% | 5.98% | 1 Year Rate | 0.97 percentage points |
| 2004 | 4.61% | 5.67% | 6.26% | 1 Year Rate | 1.65 percentage points |
| 2003 | 4.64% | 5.74% | 6.33% | 1 Year Rate | 1.69 percentage points |
Notable Canadian Interest Rate Observations for the Last 10 Years
Average Prime Rate in Canada: 4.00%
Highest Prime Rate observed: 6.25% on Wednesday, July 11th 2007.
Lowest Prime Rate observed: 2.25% on Wednesday, April 22nd 2009.
Average 1-Year Fixed Mortgage Rate in Canada: 4.77%
Highest 1-Year Rate observed: 7.35% on Wednesday, December 26th 2007.
Lowest 1-Year Rate observed: 3.00% on Wednesday, September 12th 2012.
Average 3-Year Fixed Mortgage Rate in Canada: 5.35%
Highest 3-Year Rate observed: 7.55% on Wednesday, December 26th 2007.
Lowest 3-Year Rate observed: 3.55% on Wednesday, March 13th 2013.
Average 5-Year Fixed Mortgage Rate in Canada: 6.08%
Highest 5-Year Rate observed: 7.54% on Wednesday, December 26th 2007.
Lowest 5-Year Rate observed: 5.14% on Wednesday, February 1st 2012.
| Mortgage Product Type | Inquiries | |
|---|---|---|
| First-time Home Buyer | 19.72% | |
| Mortgage Pre-approval | 19.01% | |
| No Money Down discontinued | 16.90% | |
| Refinance/Consolidate Debt | 13.38% | |
| New Purchase | 10.56% | |
| Mortgage Renewal | 9.15% | |
| Other | 11.26% |
