Broker floor: 4.42% · Bank average: 4.77% · Stress test: 6.42%. 2-Year Fixed rates across all borrower profiles — excellent to poor credit, purchase to switch.
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Most borrowers compare only after they have already signed. Free check first; paid report options after the check: Basic Snapshot CA$24 · Recommended Before Signing Report CA$49. No broker calls. No data sold.
Fixed rate mortgages are priced from the Government of Canada 5-year bond yield (approximately 3.12%). The broker floor adds approximately 1.00% to the bond yield; the bank average adds approximately 1.35%. The 2-Year term adds 0.30% above the 5-year base rate.
Rates are based on Bank of Canada benchmark data and do not constitute a lender quote. Verify current rates with your lender.
| Credit tier | Credit score range | Broker floor | Bank average | Stress test rate |
|---|---|---|---|---|
| Excellent | 750+ | 4.42% | 4.77% | 6.42% |
| Good | 680–749 | 4.67% | 5.02% | 6.67% |
| Fair | 620–679 | 5.17% | 5.52% | 7.17% |
| Poor | below 620 | 5.92% | 6.27% | 7.92% |
Select a credit tier to explore rates for all four intents (purchase, renewal, refinance, switch) and all ten provinces.
The 2-Year fixed broker floor for excellent credit is 4.42% and the bank average is 4.77%, based on Bank of Canada data. Rates vary by credit tier — see the table above for all credit tiers.
The stress test qualifying rate for an excellent-credit 2-Year fixed mortgage at 4.42% is 6.42% (contract rate plus 2%, minimum 5.25%). Poor credit borrowers at 5.92% face a stress test rate of 7.92%.
A 2-year term means two or three renewals in a typical 10-year window versus two 5-year renewals. Each renewal provides flexibility — and rate uncertainty. If rates are expected to fall, the 2-year term captures the benefit faster.
To access the broker floor rate for 2-Year fixed mortgages: (1) maintain excellent credit (750+), (2) use a mortgage broker who accesses monoline lenders, (3) compare at least 3 lender offers, and (4) benchmark any offer against current BoC data before signing.