Today’s Mortgage Rates updated as of February 4, 2025 6:53 pm
5-year fixed*
5-year Variable*
*Insured loans. Other conditions apply. Rate in effect as of today.
Switching your mortgage can be a strategic move to reduce your interest rate, access better terms, or secure a lender more aligned with your financial goals. At Citadel Mortgages, we make the process seamless, ensuring you save time and money while maximizing the benefits of switching.
Whether you’re refinancing, or renewing your mortgage, understanding current trends and available options helps you make informed financial decisions.
This guide focuses on helping you navigate the Canadian mortgage market, offering insights into current rates, strategies for securing the best deal, and regional trends.
Mortgage brokers play a pivotal role in helping Canadians find tailored financing options, providing expert advice, and navigating the often complex mortgage market.
For more detailed information on mortgage types, costs, and rights, consult the Government of Canada – Financial Consumer Agency of Canada (FCAC).
Switching your mortgage involves transferring your existing mortgage from one lender to another to take advantage of better rates, terms, or services. It’s an opportunity to optimize your finances, particularly when your mortgage term is up for renewal or your current lender no longer meets your needs.
Lower Interest Rates
Improved Terms
Debt Consolidation
Enhanced Customer Service
Learn more about today’s best mortgage rates in Canada.
Compare Citadel Mortgages’ best mortgage rates with other lenders by selecting a term or mortgage product from the dropdown menu below and then hit the check rate new button.
Review Your Current Mortgage
Shop for Better Rates
Submit Your Application
Close the Switch
To qualify for a mortgage switch, you’ll typically need:
Good Credit Score
Remaining Mortgage Term
Equity in Your Home
Employment Verification
While 33% of non-homeowners believe they’ll never own*, our Citadel mortgage brokers are 100% confident they can make it happen. How? With our expert advice and guidance.
(5-years interest savings with Citadel Mortgages)**
(Interest savings with Citadel Mortgages)
(5-years interest savings with Citadel Mortgages)**
(Interest savings with Citadel Mortgages)
| Expense | Estimated Cost |
|---|---|
| Appraisal Fee | $300 – $500 |
| Legal Fees | $1,000 – $2,000 |
| Discharge Fee | $200 – $400 (varies by lender) |
| Mortgage Penalty | 3 months’ interest or IRD* |
| Transfer Fee | May be covered by the new lender |
*IRD: Interest Rate Differential, based on the difference between your original rate and current market rates.
Access to Top Lenders
Seamless Process
Customized Advice
Exclusive Promotions
We compare mortgage rates from top lenders, including BMO mortgage rates, CIBC mortgage rates, RBC mortgage rates, TD Bank Mortgage Rates, and MCAP mortgage rates, alongside our exclusive Citadel Smart Home Plan mortgage rates. Let us simplify the process and help you secure approval quickly and stress-free!
The ideal time is near the end of your mortgage term to avoid prepayment penalties.
Yes, but your options may be limited. Citadel Mortgages works with alternative lenders to help borrowers with bad credit.
Some lenders offer promotions to cover costs like appraisal and legal fees.
The process typically takes 2-4 weeks, depending on the complexity of your application.
Use our mortgage calculator to gain a clearer picture of what you can expect in terms of monthly payments, interest costs, and amortization schedules. Simply input your loan amount, interest rate, and amortization period to get started. This tool provides estimates to help you make informed decisions as you explore different mortgage options.
Switching your mortgage can lead to significant savings and better financial flexibility. At Citadel Mortgages, we make the process easy by handling the complexities and connecting you with the best lenders in Canada.
Understanding the differences between short-term and long-term mortgage options is key to making an informed decision. By evaluating your financial situation, goals, and market conditions, you can select a mortgage product that aligns with your needs.
At Citadel Mortgages, we specialize in helping Canadians navigate the complexities of mortgage rates and terms. Whether you’re looking for a 6-month fixed rate, a 5-year variable, or something in between, our team is here to provide personalized guidance and access to the best rates in Canada.
Copyright © 2018 Citadel Mortgages
Head Office – 150 King Street West 2nd Floor Suite 335, Toronto, ON M5H 1J9
Alberta Office – 421 7th Avenue S.W., 30th Floor, Calgary, Alberta, T2P 4K9
Nova Scotia Office – 1701 Hollis Street, Suite 800 Halifax, NS B3J 3M8
Saskatchewan Office – 2010 – 11th Avenue 7th Floor Regina Saskatchewan S4P0J3
Newfoundland Office – 1 Church Hill – Suite 201-522 St. John’s Newfoundland A1C 3Z7
New Brunswick Office – 500 St George Street, Moncton NB, E1C 1Y3
British Columbia Office – 900-2025 Willingdon Avenue, Burnaby BC, V5C 0J3
Manitoba Office – 330 St. Mary Avenue, Winnipeg, MB, R3C 3Z5
Disclaimer
Citadel Mortgages operates an information-based website designed to display mortgage rates from its trusted partners. While we strive to present accurate and up-to-date information, we cannot guarantee the precision of the rates or other details provided at all times. Citadel Mortgages assumes no liability for errors, inaccuracies, or damages resulting from the use of the information on this site. Terms and conditions apply, and it is essential to consult directly with a licensed mortgage broker for personalized advice and accurate details about specific products and services. Please note that the rates displayed are for informational purposes only and may differ from actual rates offered.
Citadel Mortgages is licensed to operate in the following jurisdictions:
Instant Approval, Conditional Approval, Pre-Approval
All approvals are subject to credit and underwriting approval. Not all borrowers will qualify for conventional or equity financing. The receipt of an application does not constitute a financing approval or guarantee of an interest rate. Restrictions apply. The Annual Percentage Rate (APR) is subject to underwriting and approval, and fees and terms may vary. Contact us for the most current rates and further information about specific products. OAC (On Approved Credit).
We remain committed to delivering outstanding service, transparency, and ethical practices. Please note that some rates are province-specific and may change without notice. Rates may not be available in Quebec; please contact us directly to confirm availability and approval.
All rights reserved.
Esso and Price Privileges are trademarks of Imperial Oil Limited. Imperial Oil, licensee. Mobil and Speedpass+ are trademarks of Exxon Mobil Corporation or one of its subsidiaries. Imperial Oil, licensee. For terms and conditions, visit Terms