Current mortgage rates in Quebec: market analysis and advice for buyers
08 Jan 2026
As mortgage brokers, it is essential to provide our clients with accurate and up-to-date information on mortgage rates in Quebec, as well as practical guidance to effectively navigate the current real estate market.
Current mortgage rates in Quebec
As of January 8, 2026, mortgage rates in Quebec have the following characteristics:
- Variable mortgage rate: 3.65%
- 1-year fixed mortgage rate: 4.74%
- 2-year fixed mortgage rate: 4.29%
- 3-year fixed mortgage rate: 4.05%
- 5-year fixed mortgage rate: 4.19%
It is important to note that these rates can vary depending on the financial institutions and the specific conditions of each borrower. Variable rates are generally lower than fixed rates but carry a risk related to market fluctuations.
Advice for borrowers
To help your clients make informed choices, here are some practical tips:
- Assess repayment capacity: Before choosing a rate type, it is crucial to assess the borrower's repayment ability, taking into account their income, expenses, and financial goals.
- Compare offers: Encourage your clients to compare offers from different financial institutions to find the most advantageous rate.
- Consider loan duration: The loan term influences the amount of monthly payments and the total cost of interest. A shorter term can result in higher monthly payments but a lower total interest cost.
- Account for additional fees: Remember to consider closing costs, appraisal fees, and insurance when purchasing a property.
- Allow a financial safety margin: It is recommended to plan for a financial cushion to cope with potential rate increases or unforeseen events.
Quebec real estate market trends
According to recent data, the Quebec real estate market is experiencing a slight slowdown. In November, property sales fell by 0.6% compared to the previous month, indicating market stabilization since July. However, sales remain 10.7% higher than November 2024, suggesting market resilience despite economic fluctuations.
It is also important to note that the Bank of Canada has indicated that interest rates are likely near their lowest level, which could influence buyers' and borrowers' financing decisions in 2026.
Conclusion
As mortgage brokers, it is our responsibility to provide our clients with accurate and up-to-date information on mortgage rates and market trends. By guiding them through the purchasing process and helping them make informed decisions, we contribute to their financial success and the stability of the Quebec real estate market.
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