Mortgage Rates in Burnaby, BC
Compare live mortgage rates from 50+ lenders serving Burnaby. Free quotes from licensed BC mortgage brokers — no credit check required.
Current Best Rate
4.89%
5-Year Fixed
Avg Home Price
$1,050,000
Market
Balanced MarketGet Burnaby Mortgage Quotes
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Current Burnaby Mortgage Rates
| Rate Type | Best Rate |
|---|---|
| 5-Year Fixed | 4.89% |
| 5-Year Variable | 5.45% |
| 3-Year Fixed | 4.74% |
| 2-Year Fixed | 5.10% |
| 1-Year Fixed | 5.65% |
| HELOC | 6.20% |
*Based on $1,050,000 home price, 20% down ($840,000 mortgage), 25-year amortization, Canadian semi-annual compounding. Last updated: May 25, 2026. Best rates available to qualified borrowers with 20%+ down payment.
The Burnaby Mortgage Market
Burnaby's mortgage market sits at the heart of Metro Vancouver, offering slightly more accessible prices than Vancouver proper with excellent SkyTrain connectivity and Simon Fraser University driving consistent demand. Average home prices of $1.05M reflect Burnaby's premium position — between Vancouver's pricing and the relatively more affordable Tri-Cities.
At current 5-year fixed rates of 4.89%, a Burnaby buyer with 20% down pays approximately $4,911/month. BC's Property Transfer Tax applies with first-time buyer exemptions on homes up to $500,000 — most applicable to Burnaby condos in the $550,000–$750,000 range.
Burnaby's rapid densification around SkyTrain stations at Metrotown, Brentwood, and Lougheed is transforming the city with new towers, amenities, and transit-oriented development. The Metrotown area offers the best condo value with numerous options in the $650,000–$900,000 range that place buyers steps from one of Metro Vancouver's largest retail and transit hubs.
Burnaby Heights retains a neighbourhood character with older detached homes in the $1.2M–$1.5M range. SFU's Burnaby Mountain campus creates strong student rental demand in adjacent areas — properties near SFU consistently achieve occupancy rates above 95%. The combination of transit infrastructure, SFU employment, and ongoing densification makes Burnaby a compelling long-term hold.