Mortgage Rates in Burnaby, BC — 2026
Compare live Burnaby mortgage rates. Today's best 5-year fixed is 4.89% — available through licensed BC brokers. Free quotes, no credit check.
Best 5-Yr Fixed
4.89%
Insured rate
Avg Home Price
$1,050,000
Burnaby
Market
Balanced MarketGet Burnaby Mortgage Quotes
Licensed BC brokers — free, no credit check.
Current Burnaby Mortgage Rates — 2026
| Rate Type | Best Rate |
|---|---|
| 5-Year Fixed | 4.89% |
| 5-Year Variable | 3.63% |
| 3-Year Fixed | 4.74% |
| 2-Year Fixed | 5.10% |
| 1-Year Fixed | 5.65% |
| HELOC | 5.15% |
*Based on $1,050,000 home price, 20% down ($840,000 mortgage), 25-year amortization, Canadian semi-annual compounding. Last updated: October 9, 2026. Best rates available to qualified borrowers with 20%+ down payment.
Bank vs. Broker Rate Comparison — Burnaby
How Big 6 bank posted rates compare to what a licensed Burnaby broker can negotiate for you.
| Lender | Type | 5-Yr Fixed | 3-Yr Fixed | 5-Yr Variable | Action |
|---|---|---|---|---|---|
RBC Royal Bank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
TD Bank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
BMO | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
CIBC | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
Scotiabank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
National Bank | Bank | 6.09% | 6.05% | 3.63% | Get Quote → |
TOPTop Broker 🏆 | Broker | 4.89% | 4.74% | 3.63% | Get My Rate → |
Bank rates shown are posted rates sourced from Bank of Canada. Actual rates may vary. Broker rates reflect best available insured rates from 50+ lenders. Last updated: Oct 9, 2026.
The Burnaby Mortgage Market in 2026
Burnaby sits between Vancouver and the Tri-Cities, offering SkyTrain access, Simon Fraser University, and a mix of condos and detached homes.
REBGV Market Analysis
The Burnaby Mortgage Market — What Buyers Need to Know in 2026
Burnaby sits between Vancouver and the Tri-Cities, and in 2026 it is where many Metro Vancouver buyers land when they want SkyTrain access without Vancouver pricing. Zolo's June 2026 data put the average sale price across all property types near $986,000, but the city is really three markets. Detached houses average about $1.95M — still $200K to $500K less than a comparable house on Vancouver's West Side. Townhouses sit near $1M, and condos, which make up most of the city's sales, trade in the $664K–$700K range. Listings are selling in roughly 31 days, a balanced pace that gives condo buyers time to review strata documents before removing conditions.
Burnaby's 2025 Official Community Plan organizes growth around four town centres, and each gives buyers a distinct option. Metrotown is the city's downtown — the densest tower district in the region outside Vancouver's core, anchored by Metropolis at Metrotown and home to Sky Park's Grand Tower, now British Columbia's tallest building. Brentwood, on the Millennium Line, has been reshaped by The Amazing Brentwood master-planned community and a wall of new towers along Lougheed Highway. Lougheed Town Centre, a Millennium Line hub on the route to Coquitlam, is redeveloping its former mall lands at large scale. Edmonds, in the southeast near Highgate Village, is the most affordable of the four and the most common entry point for first-time buyers.
Outside the town centres, Burnaby is a city of distinct residential pockets. Burnaby Heights, along Hastings Street, has pre-war character homes and a village-style shopping strip. The South Slope offers detached homes with views across the Fraser River, while Deer Lake's large lots near the lake and its arts precinct form the city's luxury market. Capitol Hill, on the north-west edge, looks out over Burrard Inlet.
The employment base underpins demand. Simon Fraser University's main campus sits on Burnaby Mountain, BCIT's largest campus is on Willingdon Avenue, and two SkyTrain lines — Expo and Millennium — cross the city. Burnaby is also one of Canada's busiest film and television production hubs, with major studio complexes employing thousands of crew members who want housing within a short drive of set.
Who's Buying in Burnaby?
Burnaby's condo market is driven by young professionals and first-time buyers who want a SkyTrain commute to downtown Vancouver, many purchasing presales in Brentwood or Metrotown. Chinese-Canadian families remain the largest detached-home buyer group, drawn by school catchments and proximity to Metrotown. SFU and BCIT faculty and staff concentrate around Burnaby Mountain and Capitol Hill, while film and TV crew members — whose income is contract-based — look for townhouses near the studio lots. Edmonds attracts newcomer families seeking the city's lowest town-centre entry prices.
Burnaby Neighbourhood Affordability Guide
Estimated monthly payments assume 20% down, 25-year amortisation, at the current best 5-year fixed rate. Prices sourced from REBGV benchmark data.
| Neighbourhood | Price Range |
|---|---|
| Edmonds | $520K–$750K |
| Lougheed | $600K–$920K |
| Metrotown | $620K–$950K |
| Brentwood | $650K–$1.0M |
| Burnaby Heights | $1.7M–$2.4M |
| South Slope | $1.8M–$2.5M |
| Capitol Hill | $1.8M–$2.6M |
| Deer Lake | $2.6M–$4.0M |
*Payments are estimates only. Actual payments depend on your rate, down payment, amortisation, and lender. Get a personalised quote below.
How Much Mortgage Can I Afford in Burnaby?
Maximum qualifying mortgage based on gross household income, stress test rate of 6.89%, 20% down, 25-year amortization, and an estimated $875/mo in property tax. Assumes no other significant debts (TDS ≤ 44%).
| Household Income | Max Mortgage |
|---|---|
| $60K | $85K |
| $80K | $160K |
| $100K | $235K |
| $120K | $315K |
| $150K | $430K |
| $200K | $620K |
*Monthly payment at current best 5-year fixed rate of 4.89%, 25-year amortization. Qualifying uses stress test rate of 6.89%. Estimates only — talk to a broker for your exact qualifying amount.
First-Time Buyer Programs for Burnaby Residents
Stack federal and provincial programs to reduce your out-of-pocket costs significantly.
First Home Savings Account (FHSA)
Contribute up to $8,000/year, max $40,000 lifetime. Contributions are tax-deductible, withdrawals tax-free for a first home. Combines with the RRSP HBP for maximum benefit.
FHSA guide →RRSP Home Buyers' Plan (HBP)
Withdraw up to $35,000 per person ($70,000/couple) from your RRSP tax-free toward a first home. Must be repaid over 15 years — or included as income.
HBP guide →BC First Home Buyer Exemption
BC first-time buyers are exempt from the Property Transfer Tax on homes up to $500,000. Partial exemption applies on homes $500K–$525K — potentially saving you up to $8,000 at closing.
Ask a local broker →How to Get the Best Mortgage Rate in Burnaby
Six steps that consistently get Burnaby buyers below-market rates.
Use a Licensed Broker
A broker shops 50+ lenders simultaneously — banks, credit unions, and monolines — negotiating volume discounts unavailable to individual buyers. Free service: lenders pay the broker.
Improve Your Credit Score
Scores above 720 typically unlock the best rate tier. Above 760 is ideal. Pay down revolving debt, avoid new credit applications 90+ days before applying.
Save 20%+ Down Payment
A 20% down payment avoids CMHC mortgage insurance (0–4% of your mortgage) and unlocks the best uninsured rates. Every percent above 20% further improves your rate.
Get Pre-Approved First
A pre-approval locks your rate for 90–120 days, protecting you if rates rise while you shop. It also sharpens your offer in competitive markets.
Minimize Other Debts
The stress test considers your total debt service (TDS) ratio. Paying off car loans, student loans, and credit cards before applying expands your maximum qualifying mortgage.
Negotiate Penalty Terms
The lowest rate sometimes carries a restrictive prepayment penalty. Ask your broker to compare the total cost — including IRD penalties — before choosing the cheapest headline rate.
Fixed or Variable Rate in Burnaby? What the Local Market Tells Us
Many Burnaby buyers are purchasing presales in Metrotown or Brentwood that won't complete for two to four years, so the rate on completion day is unknown — plan for a fixed-rate hold or a refreshed pre-approval before occupancy. For resale condo buyers in the $664K–$700K range, a 5-year fixed protects a budget that also carries strata fees. Film and TV workers with project-based income should strongly favour fixed. Salaried SFU and BCIT employees with stable positions have the income predictability to consider variable.
Related Resources for Burnaby Buyers
Find a Burnaby Mortgage Broker
Get matched with licensed local brokers who know BC lenders. Free service, no credit check.
Mortgage Payment Calculator
Model your payments using Burnaby's average prices and current best rates from our live rate feed.
Mortgage Stress Test Guide
Understand how the federal stress test affects your maximum purchase price in Burnaby.
Frequently Asked Questions — Mortgage Rates in Burnaby
What are the current mortgage rates in Burnaby?
What is the best mortgage rate in Burnaby today?
Should I choose a fixed or variable rate mortgage in Burnaby?
How much do I need to earn to afford a home in Burnaby?
What is the mortgage stress test rate in Burnaby in 2026?
Is now a good time to buy a home in Burnaby?
How much is land transfer tax in Burnaby?
How do I get the best mortgage rate in Burnaby?
Advertising disclosure: LendGuide.ca may receive compensation when you connect with mortgage professionals through this site. Rates shown are the best available from our lender network and may not reflect every offer in the market. Mortgage rates are subject to change without notice and depend on factors including down payment, credit score, amortization, and lender approval. This is not an offer of credit. Always verify current rates with a licensed mortgage professional before making financial decisions.
Best rate today: 4.89% — Burnaby
5-yr fixed · 50+ lenders · free