2-Year Fixed Mortgage Rates in Canada
A 2-year fixed mortgage provides a short rate lock with maximum flexibility. Popular among borrowers who strongly believe rates will fall before their next renewal, or who plan to sell their home within 2–3 years. Current best 2-year fixed rates start from 5.10%.
Today's Best Rates
Best: 5.10%| Rate Type | Best Rate |
|---|---|
| 5-Year Fixed | 4.89% |
| 5-Year Variable | 5.45% |
| 3-Year Fixed | 4.74% |
| 2-Year Fixed | 5.10% |
| HELOC | 6.20% |
*Based on $500,000 home, 20% down, 25-yr amortization. Last updated: May 25, 2026. Rates updated daily.
Key Facts: 2 Year Fixed Mortgages
- Shortest widely available fixed term from major Canadian lenders
- Renewal in just 2 years allows you to capitalize on falling rates quickly
- 2-year terms often carry slightly higher rates than 3 or 5-year fixed
- Lowest prepayment penalty of any fixed-rate product
- Best for borrowers who are highly confident rates will drop significantly
Not sure which term is right for you?
A licensed broker can compare options across 50+ lenders for free.
See Your Rate in 60 Seconds
No credit check. Licensed brokers only.