Average mortgage interest rate Canada 2019-2023, by type of mortgage

Published by Statista Research Department, Feb 19, 2024

In 2023, mortgage interest rates in Canada increased for all types of mortgages. The interest rate for fixed mortgage interest rates for five years and more doubled, from 2.38 percent to 5.52 percent between December 2021 and December 2023. The higher borrowing costs led to the housing market contracting in 2022 and corrections of the property prices across the country.

Average mortgage interest rate in Canada from 2019 to 2023, by mortgage type

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Release date

2024

Region

Canada

Survey time period

2019 to 2023

Special properties

Funds advanced; as of December of each year

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Introduction

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United States

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Canada

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Europe

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South Korea

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Japan

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Australia

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Topics

Mortgage industry worldwide: developed marketsHousing market in CanadaGlobal housing market U.S. home buying processU.S. housing market
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