British Columbia Mortgage Rates
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Learn MoreHistorical Mortgage Rates
For British Columbia - Last Updated Dec 01 2024
5 Year Variable Rate
4.35% - 5.5%
2024 (average)
5.71%
6.96%
October
5.10%
6.20%
September
5.25%
6.45%
August
5.50%
6.70%
July
5.50%
6.70%
June
5.75%
7.05%
May
5.99%
7.30%
April
5.99%
7.30%
March
5.99%
7.30%
February
5.99%
7.30%
January
5.99%
7.30%
2023 (average)
5.77%
6.96%
December
5.99%
7.30%
November
5.99%
7.30%
October
5.99%
7.30%
September
5.99%
7.30%
August
5.99%
7.30%
July
6.00%
7.19%
June
5.75%
6.85%
May
5.50%
6.60%
April
5.50%
6.60%
March
5.50%
6.60%
February
5.50%
6.60%
January
5.50%
6.60%
2022 (average)
2.94%
3.77%
December
5.25%
6.28%
November
4.75%
5.70%
October
4.75%
5.70%
September
4.25%
4.95%
August
3.50%
4.45%
July
3.50%
4.45%
June
2.46%
3.39%
May
1.95%
2.75%
April
1.78%
2.50%
March
1.13%
1.84%
February
0.99%
1.65%
January
0.99%
1.55%
2021 (average)
1.14%
1.58%
December
0.99%
1.55%
November
0.90%
1.55%
October
1.09%
1.55%
September
1.09%
1.55%
August
1.09%
1.55%
July
1.09%
1.55%
June
1.19%
1.55%
May
1.19%
1.55%
April
1.24%
1.55%
March
1.24%
1.55%
February
1.24%
1.65%
January
1.29%
1.75%
2020 (average)
1.90%
2.25%
December
1.38%
1.79%
November
1.55%
1.80%
October
1.55%
1.90%
September
1.61%
1.87%
August
1.66%
2.00%
July
1.79%
2.10%
June
1.79%
2.10%
May
1.95%
2.25%
April
2.00%
2.43%
March
2.25%
2.50%
February
2.65%
3.10%
January
2.65%
3.10%
2019 (average)
2.68%
3.20%
December
2.65%
3.10%
November
2.65%
3.10%
October
2.65%
3.10%
September
2.65%
3.10%
August
2.65%
3.10%
July
2.65%
3.10%
June
2.68%
3.10%
May
2.70%
3.20%
April
2.75%
3.20%
March
2.75%
3.35%
February
2.70%
3.45%
January
2.65%
3.45%
2018 (average)
2.35%
2.88%
December
2.65%
3.35%
November
2.65%
3.25%
October
2.55%
2.90%
September
2.40%
2.80%
August
2.40%
2.80%
July
2.40%
2.80%
June
2.15%
2.60%
May
2.21%
2.55%
April
2.21%
2.85%
March
2.21%
2.85%
February
2.21%
2.85%
January
2.21%
3.00%
2017 (average)
1.89%
2.46%
December
1.95%
2.75%
November
1.95%
2.75%
October
2.05%
2.75%
September
2.15%
2.65%
August
1.90%
2.50%
July
1.95%
2.50%
June
1.75%
2.25%
May
1.75%
2.25%
April
1.78%
2.25%
March
1.80%
2.30%
February
1.80%
2.30%
January
1.90%
2.30%
2016 (average)
2.02%
2.30%
December
1.90%
2.30%
November
1.90%
2.30%
October
1.90%
2.30%
September
1.95%
2.30%
August
1.95%
2.30%
July
1.95%
2.30%
June
2.05%
2.30%
May
2.10%
2.30%
April
2.10%
2.30%
March
2.10%
2.30%
February
2.15%
2.30%
January
2.15%
2.30%
2015 (average)
1.98%
2.15%
December
2.10%
2.20%
November
2.05%
2.15%
October
1.90%
2.05%
September
1.90%
2.05%
August
1.85%
2.05%
July
1.90%
2.15%
June
2.05%
2.15%
May
2.00%
2.15%
April
2.00%
2.15%
March
2.00%
2.15%
February
2.00%
2.25%
January
1.95%
2.30%
2014 (average)
2.30%
2.43%
December
2.15%
2.35%
November
2.15%
2.35%
October
2.15%
2.35%
September
2.25%
2.35%
August
2.25%
2.35%
July
2.30%
2.40%
June
2.40%
2.50%
May
2.40%
2.50%
April
2.40%
2.50%
March
2.40%
2.50%
February
2.40%
2.50%
January
2.40%
2.50%
5 Year Fixed Rate
4.24% - 5.69%
2024 (average)
4.66%
6.44%
October
4.24%
5.69%
September
4.27%
5.77%
August
4.47%
5.79%
July
4.64%
5.79%
June
4.69%
6.89%
May
4.79%
6.89%
April
4.84%
6.89%
March
4.79%
6.89%
February
4.92%
6.89%
January
4.90%
6.89%
2023 (average)
5.03%
6.33%
December
5.12%
6.89%
November
5.44%
6.89%
October
5.62%
6.89%
September
5.47%
6.89%
August
5.37%
6.89%
July
5.19%
6.39%
June
4.92%
5.95%
May
4.57%
5.84%
April
4.84%
5.84%
March
4.65%
5.84%
February
4.67%
5.84%
January
4.49%
5.84%
2022 (average)
4.03%
4.82%
December
4.69%
5.82%
November
4.92%
5.74%
October
5.01%
5.70%
September
4.44%
5.54%
August
4.34%
5.54%
July
4.52%
5.54%
June
4.37%
5.10%
May
3.89%
4.66%
April
3.72%
4.23%
March
3.14%
3.64%
February
2.74%
3.20%
January
2.52%
3.07%
2021 (average)
1.89%
2.43%
December
2.39%
2.94%
November
2.37%
2.91%
October
2.12%
2.56%
September
1.84%
2.39%
August
1.79%
2.39%
July
1.79%
2.39%
June
1.79%
2.39%
May
1.79%
2.39%
April
1.89%
2.39%
March
1.89%
2.32%
February
1.62%
1.99%
January
1.43%
1.99%
2020 (average)
2.02%
2.43%
December
1.49%
1.99%
November
1.59%
1.99%
October
1.59%
2.04%
September
1.79%
2.04%
August
1.79%
2.19%
July
1.89%
2.39%
June
1.99%
2.39%
May
2.24%
2.59%
April
2.44%
2.89%
March
2.29%
2.84%
February
2.44%
2.84%
January
2.64%
2.99%
2019 (average)
2.72%
3.09%
December
2.39%
2.89%
November
2.29%
2.94%
October
2.54%
2.94%
September
2.49%
2.84%
August
2.39%
2.79%
July
2.49%
2.84%
June
2.59%
2.84%
May
2.79%
3.09%
April
2.89%
3.19%
March
3.14%
3.39%
February
3.34%
3.59%
January
3.29%
3.72%
2018 (average)
3.15%
3.62%
December
3.39%
3.82%
November
3.49%
3.84%
October
3.19%
3.64%
September
3.19%
3.67%
August
3.19%
3.67%
July
3.14%
3.64%
June
3.14%
3.64%
May
3.14%
3.64%
April
2.99%
3.54%
March
2.99%
3.54%
February
3.09%
3.49%
January
2.89%
3.34%
2017 (average)
2.54%
2.87%
December
2.79%
3.29%
November
2.69%
3.29%
October
2.84%
3.29%
September
2.84%
3.20%
August
2.59%
2.99%
July
2.64%
2.69%
June
2.39%
2.49%
May
2.24%
2.49%
April
2.29%
2.59%
March
2.39%
2.74%
February
2.39%
2.74%
January
2.44%
2.69%
2016 (average)
2.30%
2.56%
December
2.44%
2.64%
November
2.29%
2.39%
October
2.14%
2.39%
September
2.14%
2.49%
August
2.24%
2.49%
July
2.24%
2.49%
June
2.24%
2.59%
May
2.34%
2.59%
April
2.34%
2.59%
March
2.34%
2.69%
February
2.39%
2.69%
January
2.44%
2.69%
2015 (average)
2.45%
2.65%
December
2.54%
2.69%
November
2.44%
2.69%
October
2.29%
2.59%
September
2.39%
2.59%
August
2.39%
2.59%
July
2.39%
2.59%
June
2.44%
2.59%
May
2.44%
2.59%
April
2.44%
2.69%
March
2.49%
2.69%
February
2.59%
2.69%
January
2.59%
2.79%
2014 (average)
2.88%
3.02%
December
2.74%
2.89%
November
2.74%
2.89%
October
2.74%
2.89%
September
2.74%
2.89%
August
2.74%
2.89%
July
2.79%
2.99%
June
2.94%
3.09%
May
2.94%
3.09%
April
2.94%
3.09%
March
2.94%
3.09%
February
3.09%
3.19%
January
3.19%
3.29%
Beautiful British Columbia: A desirable housing market, tougher affordability.
British Columbia housing market activity sprung to life in October 2024, as more buyers pounded the neighbourhood pavements, coaxed by falling interest rates and perhaps to get ahead of a projected busy Spring 2025 season.
In a reversal from September to October, average British Columbia home sales were up by a solid 26.2% year-over-year (compared to September's sales decline of 1.8%). Victoria led the way with an over 54% sales increase; Vancouver Island, Fraser Valley, the GVA, Northern BC and Chilliwack increases ranged from 33% to 24% — not bad for a typically slower month.
Despite the sales uptick, the average BC home price decreased slightly to $974,949 year-over-year (from last month's $969,959) — though a decline in higher-priced Greater Vancouver exerted the main drag. Most BC centres actually logged gains, with Chilliwack and Vancouver Island at the front of the pack, higher by 6.5% and 3.7%, respectively.
Seller listings are mixed across the board, increasing the provincial SNLR ratio (sale-to-new-listings) to 51%, with balanced markets in most centres, save Vancouver Island and Northern BC still showing as seller's markets. BC Government restrictions on short-term rental and empty-home may continue to help pad the listings, opening up more homes as primary residences to help meet demand (part-way).
Housing starts dropped an average of 3% across BC, with year-to-date starts down in Vancouver by 18%, Nanaimo by 27%, and Victoria by 14%.
Higher mortgage rates and higher prices in this popular province mean that many BC centres (especially Greater Vancouver and the Island) are more challenging for first-time home buyers.
As interest rates continue to decline, demand may come to bear once again to push more BC housing markets into seller's territory. Yet, investors and mortgagees pressured by higher mortgage payments may look to sell.
Data Source: Sagen Housing Market Updates
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British Columbia Mortgage Rates
Mortgage Rates are different across Canada. Rates are shown based on your location. If you're planning to purchase out-of-province, be sure to choose rates where the property will be located.
Canada Wide Mortgages
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British Columbia
- Abbotsford ,
- Burnaby ,
- Chilliwack ,
- Coquitlam ,
- Courtenay ,
- Kamloops ,
- Kelowna ,
- Nanaimo ,
- New Westminster ,
- Prince George ,
- Richmond ,
- Saanich ,
- Surrey ,
- Vancouver ,
- Vernon ,
- Victoria ,
- White Rock
Alberta
- Airdrie ,
- Calgary ,
- Edmonton ,
- Fort McMurray ,
- Grande Prairie ,
- Lethbridge ,
- Lloydminster ,
- Medicine Hat ,
- Red Deer
Saskatchewan
Manitoba
Ontario
- Barrie ,
- Belleville ,
- Brampton ,
- Brantford ,
- Burlington ,
- Cornwall ,
- Guelph ,
- Hamilton ,
- Kanata ,
- Kingston ,
- Kitchener ,
- London ,
- Markham ,
- Milton ,
- Mississauga ,
- Niagara Falls ,
- North Bay ,
- Oakville ,
- Oshawa ,
- Ottawa ,
- Peterborough ,
- Sarnia ,
- Sault Ste. Marie ,
- St. Catharines ,
- Sudbury ,
- Thunder Bay ,
- Toronto ,
- Vaughan ,
- Windsor ,
- Woodstock
Quebec
Atlantic Canada
- Charlottetown ,
- Fredericton ,
- Halifax ,
- Moncton ,
- Saint John ,
- St. John's