Fixed rate mortgages

Make your mortgage as comfortable as your home

Enjoy the security and peace of mind of a locked-in interest rate that won’t change over the length of the term. Your payments are set and won’t change which is ideal if you have a set budget and want to understand exactly how much your payments will be.

Mortgage rates

Effective Date: 16-Sept-19

Residential mortgages1
Term
Posted Special offer Promotional offer
1 year closed 3.540%  2.940%2
 
2 year closed  3.690% 2.740%2   
3 year closed 3.990% 2.790%2   
4 year closed  4.390% 2.790%  
5 year closed  4.99%  2.840%3 4

Posted rates available at branches only. All rates are per annum and are subject to change without notice.

1Interest rate compounded semi-annually, not in advance. Interest rate may be changed, extended or withdrawn at any time without notice. Promotional rates are discounted rates and are not the posted rates of CWB. Residential mortgages offered by CWB are subject to its standard lending qualification criteria. Assuming no additional fees are charged, the Annual Percentage Rate is the same as the Interest Rate. The Annual Percentage Rate (APR) is calculated semi-annually, not in advance and is based on a 25 year amortization. Applies to residential real estate only, subject to meeting CWB credit granting criteria.
2This special rate is only available for CWB clients who meet the following criteria: 1. The borrower must have CWB's Ultimate Banking Package and $100,000 in investible assets on deposit with the CWB Financial Group; 2. The borrower must have CWB's Ultimate Banking Package and $1 million in combined business loans and deposits with CWB
3All borrowers must have a minimum credit score of 600; Gross Debt Service Ratio must be less than 39% and Total Debt Service Ratio cannot be higher than 44% based on the higher of the Bank of Canada qualifying rate or the customers' contract interest rate plus 200 bps; New CWB owner-occupied mortgages only for residential properties with one to four unit; Rental properties are not eligible and refinances are not eligible; Income confirmation criteria applies. See branch for further details.

From April 1, 2019 to July 31, 2019 (the “Offer Period”), obtain a special promotional rate on 5-year fixed rate closed mortgages (the “Promotional Rate Offer”) when you get a new CWB mortgage or transfer your existing mortgage from another financial institution to a CWB mortgage.
To qualify for the Promotional Rate Offer, you must:

1. Apply and be approved for:
a. A new high-ratio CWB mortgage or a transfer of your existing high-ratio mortgage from another financial institution to a new CWB mortgage; 
OR
b. A new conventional CWB Mortgage or a transfer of your existing conventional mortgage from another financial institution to a new conventional CWB mortgage, provided that you meet the following criteria:
i. All borrowers must have a minimum credit score of 600;
ii. Gross Debt Service Ratio must be less than 39%; and
iii. Total Debt Service Ratio cannot be higher than 44% based on the higher of the Bank of Canada qualifying rate or the customers' contract interest rate plus 2.00%.
A high ratio mortgage is a mortgage having a loan to value ratio of more than 80% and requires mortgage default insurance.
A conventional mortgage is a mortgage having a loan to value ratio of less than 80%. 
2. The new CWB mortgage must be on a five year fixed closed term.
3. The amortization period on your new CWB mortgage must be 25 years or less.
4. To be eligible, your mortgage application must be submitted during the Offer Period and result in a written mortgage approval, containing an interest rate commitment dated during the Offer Period. The new CWB mortgage must funded within 120 days from the start date of the interest rate commitment.
5. Approval of your new CWB mortgage is subject to standard lending criteria for residential mortgages, including income and employment verification. 
6. Maximum property value for the underlying property cannot exceed $1,000,000.
7. Property must be your primary residence; owner-occupied residential properties must have only one to four units.

Other Conditions
8. The Promotional Rate Offer is not available for any amendment to an existing mortgage with CWB, including renewals, refinances, assumptions or portability transactions.
9. The Promotional Rate Offer cannot be combined with any other CWB promotions.
10. The Promotional Rate Offer may be amended, extended, or cancelled at the sole discretion of CWB at any time, without prior notice.
11. CWB reserves the right to refuse or terminate your participation in the Promotional Rate Offer if CWB suspects or discovers that incomplete or incorrect information has been provided to CWB in the mortgage application. 
12. Interest rate compounded half-yearly, not in advance. Interest rates are subject to change without notice at any time.