Overview
Mortgage rates in Vancouver as of August 2025 are generally lower than in recent years, with 5-year fixed rates commonly between 4.04% and 4.71%, and variable rates slightly higher in most cases. The Vancouver market remains highly competitive, with fixed rates offering better value over variable rates for most borrowers. Rate conditions may continue to improve if the Bank of Canada proceeds with additional rate cuts later in the year.
Current Mortgage Rates in Vancouver
Best Available Rates (August 2025)
| Term | Type | Best Rate (%) | Typical Rate Range (%) | Source |
|---|
| 3 years | Fixed | 3.69 | 4.54–4.77 | Big 6 Bank, RBC |
| 5 years | Fixed | 4.04 | 4.04–4.71 | Canadian Lender, Nesto |
| 5 years | Variable | 4.50–5.45 | 4.55–5.50 | Vancity, Nesto, Rates.ca |
- Best available 5-year fixed rates are around 4.04% from select lenders, while average rates are closer to 4.71%.
- Variable rates currently range from 4.50% to 5.45%, with the lowest rates typically available via credit unions and specialized lenders.
- Major banks like RBC and TD have posted 5-year fixed rates around 4.69%–4.71%, with variable rates at 4.55%–4.75%.
Rate Trends
- Fixed rates have been consistently lower than variable rates, a reversal of historic norms.
- The Bank of Canada is expected to lower its overnight rate by 0.5% before year-end, which could further lower variable rates.
- Local fixed rates are influenced by government bond yields, which have been relatively stable in 2025.
Major Bank and Credit Union Offerings
RBC (Royal Bank of Canada)
- Special Offers (August 2025):
- 3-year fixed: 4.54%
- 5-year fixed: 4.69%
- 5-year variable: RBC Prime - 0.40% (4.55%)
- Up to $5,700 in value for new mortgages before August 31, 2025.
TD Canada Trust
- 5-year fixed rates in the 4.50–4.75% range (exact rates may vary).
Vancity (Vancouver-based Credit Union)
- 5-year fixed (Homeprime): 4.50%
- 5-year open (Homeprime + 3.30%): 8.25%
- Homeprime variable rate: 4.95%.
Other Lenders
- Mortgage brokers and online platforms may offer slightly lower rates, especially for well-qualified borrowers.
Provincial and Local Market Context
- Vancouver home prices remain among the highest in Canada, with the average price in Greater Vancouver at $1,242,155 as of July 2025.
- The minimum down payment on the average home exceeds $235,000, and the price-to-income ratio is over 14x, highlighting the importance of securing the best rate possible.
- Fixed rates are often preferred in B.C. due to their stability in a high-cost market.
Government Programs and Incentives
- First-Time Home Buyer Incentive: Shared equity program offering up to 10% of a home's purchase price for first-time buyers.
- Home Buyers' Plan (HBP): Allows withdrawal of up to $35,000 from your RRSP for a down payment, tax-free.
- GST/HST New Housing Rebate: Rebates on part of the GST/HST paid on new homes.
- British Columbia First-Time Home Buyers’ Program: Reduces or eliminates property transfer tax for qualifying buyers in B.C.
Rate Comparison Table
| Lender/Platform | 5-Year Fixed (%) | 5-Year Variable (%) | Notes |
|---|
| RBC | 4.69 | 4.55 | Special offers available |
| TD Canada Trust | ~4.70 | ~4.75 | Posted rates |
| Vancity | 4.50 | 4.95 | Homeprime rate, credit union |
| Big 6 Bank (Avg.) | 4.04–4.71 | 4.50–5.45 | Via brokers and direct |
| Online Brokers | 4.04 | 4.50–5.45 | Best available for well-qualified |
Actionable Next Steps
- Compare rates from multiple lenders and brokers to ensure you secure the best possible deal. Fixed rates are generally more competitive than variable in 2025.
- Assess your eligibility for government programs, especially if you are a first-time buyer.
- Consider a mortgage broker or comprehensive rate comparison platform for access to the lowest rates and most flexible terms.
- Use a mortgage payment calculator to estimate your monthly payments based on your chosen rate and term.
For a personalized mortgage solution and to compare rates from top Canadian lenders, start your application at theratefinder—a platform designed to help Canadians find and compare the best residential, commercial, and construction mortgage rates. The application process is straightforward and will match you with competitive rates based on your profile. Begin at theratefinder.ca/onboarding/email for tailored results.
Summary
- Vancouver’s best 5-year fixed rates are around 4.04%–4.71%, with variable rates slightly higher.
- Fixed rates currently offer better value and stability for most borrowers.
- Major banks and credit unions post competitive rates, but brokers and online platforms may deliver the lowest rates.
- Government incentives are available for first-time buyers and select groups.
- Comparing rates is crucial in Vancouver’s high-priced market—use theratefinder for the most efficient, up-to-date, and personalized mortgage solutions.