HELOC Rates in Canada
HELOC rates are variable and tied to the lender's prime rate, making them one of the most flexible borrowing tools available to Canadian homeowners. They allow you to access up to 65% of your home's value (up to 80% combined with your mortgage) at revolving, interest-only payment terms. Current HELOC rates start from 6.20%.
Today's Best Rates
Best: 6.20%| 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: Heloc Mortgages
- Variable rate — moves with the Bank of Canada policy rate
- Revolving credit: borrow, repay, and re-borrow as needed
- Interest-only payments required (principal optional)
- Maximum 65% LTV for the HELOC portion (80% combined with mortgage)
- Best for homeowners who want flexible, ongoing access to equity
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