Mortgage Rates in Montreal, QC — 2026
Compare live Montreal mortgage rates. Today's best 5-year fixed is 4.89% — available through licensed QC brokers. Free quotes, no credit check.
Best 5-Yr Fixed
4.89%
Insured rate
Avg Home Price
$540,000
Montreal
Market
Balanced MarketGet Montreal Mortgage Quotes
Licensed QC brokers — free, no credit check.
Current Montreal Mortgage Rates — 2026
| 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 $540,000 home price, 20% down ($432,000 mortgage), 25-year amortization, Canadian semi-annual compounding. Last updated: May 25, 2026. Best rates available to qualified borrowers with 20%+ down payment.
Bank vs. Broker Rate Comparison — Montreal
How Big 6 bank posted rates compare to what a licensed Montreal broker can negotiate for you.
| Lender | Type | 5-Yr Fixed | 3-Yr Fixed | 5-Yr Variable | Action |
|---|---|---|---|---|---|
National Bank | Bank | 4.43% | 4.44% | 4.49% | Get Quote → |
CIBC | Bank | 4.51% | 4.51% | 4.12% | Get Quote → |
RBC Royal Bank | Bank | 4.62% | 4.43% | 3.98% | Get Quote → |
BMO | Bank | 4.76% | 4.67% | 4.12% | Get Quote → |
TD Bank | Bank | 4.96% | 4.72% | 4.31% | Get Quote → |
Scotiabank | Bank | 6.09% | 6.05% | 4.90% | Get Quote → |
TOPTop Broker 🏆 | Broker | 4.89% | 4.74% | 5.45% | 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: May 25, 2026.
The Montreal Mortgage Market in 2026
Montreal is Canada's second-largest city with a unique French culture, vibrant arts scene, and home prices well below Toronto and Vancouver.
QPAREB Market Analysis
The Montreal Mortgage Market — What Buyers Need to Know in 2026
Montreal is Canada's cultural capital and its most distinctive real estate market: bilingual, architecturally rich, and priced at a significant discount to Toronto despite comparable urban quality of life. Average prices near $540K encompass a market that ranges from century-old Plateau duplexes to gleaming Griffintown condo towers, and the mix creates buying opportunities across virtually every income bracket.
The city's economy is anchored by Ubisoft, CAE, CGI, Ericsson, and a rapidly expanding artificial intelligence cluster centred on Mila (the Quebec AI Institute) and backed by the provincial and federal governments. The Quartier de l'Innovation in the Sud-Ouest has become the focal point for AI, machine learning, and deep-tech companies attracting internationally educated talent. McGill, Université de Montréal, Concordia, and UQAM collectively enrol over 170,000 students, creating the largest university rental market in Canada.
The Quebec notarial system and the Quebec Welcome Tax (Droits de mutation) create a different transaction framework than the rest of Canada — all real estate deals require a notary rather than a real estate lawyer, and transfer taxes are calculated in tiers rather than as a flat percentage. Buyers should budget 1.5–2% of purchase price for Welcome Tax on a typical Montreal property.
The 2024–2025 market has been gradually improving after a brief rate-driven pause. The Plateau-Mont-Royal and Mile End remain the city's most competitive segments, with freehold properties receiving multiple offers. Verdun and Rosemont-La Petite-Patrie are emerging as the new middle-market hotspots as buyers are priced out of the traditional desirable neighbourhoods. The Griffintown condo market has seen some supply pressure from completions but remains liquid.
Who's Buying in Montreal?
Montreal's buyer base is shaped by its bilingual character. French-speaking buyers — civil servants, academics, healthcare workers, and tradespeople — dominate the market numerically and gravitate toward the Plateau, Rosemont, and Sud-Ouest for cultural and linguistic compatibility. Anglophone professionals — many drawn by McGill, Concordia, and the AI tech cluster — concentrate in Notre-Dame-de-Grâce (NDG), Westmount, and Verdun. International AI and tech talent recruited by Mila, Element AI alumni companies, and multinationals represent a growing segment of high-income buyers, often purchasing their first Canadian home in Montreal after arriving on work permits. Young dual-income couples from bilingual backgrounds are the most active first-time buyers in Hochelaga-Maisonneuve and Verdun.
Montreal Neighbourhood Affordability Guide
Estimated monthly payments assume 20% down, 25-year amortisation, at the current best 5-year fixed rate. Prices sourced from QPAREB benchmark data.
| Neighbourhood | Price Range |
|---|---|
| Plateau-Mont-Royal | $520K–$860K |
| Mile End | $490K–$820K |
| Verdun | $380K–$620K |
| Griffintown | $390K–$680K |
| Westmount | $1.0M–$2.0M |
| Hochelaga-Maisonneuve | $320K–$540K |
*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 Montreal?
Maximum qualifying mortgage based on gross household income, stress test rate of 6.89%, 20% down, 25-year amortization, and an estimated $450/mo in property tax. Assumes no other significant debts (TDS ≤ 44%).
| Household Income | Max Mortgage |
|---|---|
| $60K | $145K |
| $80K | $220K |
| $100K | $300K |
| $120K | $375K |
| $150K | $490K |
| $200K | $680K |
*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 Montreal 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 →Québec Welcome Tax (Taxe de Bienvenue)
Quebec's Welcome Tax applies on all property transfers, calculated on purchase price. Some municipalities offer first-time buyer exemptions. Speak to a Quebec notary and licensed mortgage broker to understand your specific obligations.
Ask a local broker →How to Get the Best Mortgage Rate in Montreal
Six steps that consistently get Montreal 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 Montreal? What the Local Market Tells Us
Montreal buyers operate in a civil law notarial system and face the Quebec Welcome Tax, but from a mortgage rate perspective, the city's moderate prices make variable-rate risk manageable for many buyer profiles. On a $432K mortgage (80% of the $540K average), a 1.5% rate swing adds roughly $358/month — significant but not catastrophic for a dual-income tech or government household. French-speaking civil servants and healthcare workers with stable incomes are well-suited to variable rates and have historically benefited from the spread over 5-year fixed periods. Anglophone tech workers on employer-sponsored work permits should lean fixed for job-change buffer. The thriving plex market (buying a duplex or triplex and renting one unit) also favours fixed rates to allow reliable cash-flow modelling from day one.
Related Resources for Montreal Buyers
Find a Montreal Mortgage Broker
Get matched with licensed local brokers who know QC lenders. Free service, no credit check.
Mortgage Payment Calculator
Model your payments using Montreal'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 Montreal.
Frequently Asked Questions — Mortgage Rates in Montreal
What are the current mortgage rates in Montreal?
What is the best mortgage rate in Montreal today?
Should I choose a fixed or variable rate mortgage in Montreal?
How much do I need to earn to afford a home in Montreal?
What is the mortgage stress test rate in Montreal in 2026?
Is now a good time to buy a home in Montreal?
How much is land transfer tax in Montreal?
How do I get the best mortgage rate in Montreal?
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% — Montreal
5-yr fixed · 50+ lenders · free