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Online Policy Statement
  1. Home
  2. Mortgages
  3. Mortgage Rates

Mortgage rates

Effective date: 10-June-2024
Prime rate8: 6.95%


Residential mortgages 1
Posted Special offer APR 5
6 month fixed open 9.70% 2  9.84% 6
6 month fixed convertible  7.95% 2  8.09% 6
1 year fixed open  9.70% 2 —   9.70% 6
1 year fixed closed 7.69% 2 7.10% 4
 7.19% 7
2 year fixed closed  7.29% 2 6.59% 4  6.63% 7
3 year fixed closed 6.94% 2 5.59% 4  5.62% 7
4 year fixed closed  6.74% 2 5.54% 4  5.56% 7
5 year fixed closed  6.74% 2 5.29% 4  5.31% 7
5 year variable closed 6.60% 3 —   6.62% 6


1 All mortgages are subject to meeting CWB's standard credit criteria for residential mortgages. Some conditions apply. Interest rates (posted rates and special offer rates) are per annum and may be changed or withdrawn at any time without notice.

2 Fixed Interest rate is compounded semi-annually, not in advance.

3 Variable interest rate is compounded monthly, not in advance, and changes when CWB’s Prime Rate changes.

4 Special offer rates are discounted from posted rates. Additional conditions will apply. Interest rate is compounded semi-annually, not in advance.

5 The Annual Percentage Rate (APR) is calculated on a $300,000 mortgage, 25-year amortization and an estimated appraisal fee of $300, which may be required to complete your lending application. If no fees are charged, the APR will be the same as the Interest Rate. For fixed rate options, APR is compounded semi-annually, not in advance. For variable rate options, APR is compounded monthly, not in advance, and may vary if CWB’s Prime Rate changes during the term.

6 The APR is based on the posted rates.

7 The APR is based on our special offer rates.

CWB CAD Prime Rate is the variable annual interest rate published by us from time to time and is the interest rate we will use as a reference to determine (1) the variable interest rate that we will charge for loans provided by us in Canadian dollars in Canada and (2) the variable interest rate paid on certain guaranteed investment certificates.