# 5-Year Variable Mortgage Rates Canada 2026: Prime & Variable

> Current 5-year variable mortgage rates, Prime Rate tracking, and trigger point math. How variable rates change with Bank of Canada decisions. Updated daily.

Category: Mortgage Rates
Last verified: 2026-08-29
Source: https://ratellow.com/mortgages/rates/5-year-variable

## TL;DR
- Live 5-year variable as of 2026-09-19: 3.49%.
- Prime is 4.45%. The variable is a discount to Prime, not a fixed coupon.
- Uninsured straight switch at renewal: no prescribed MQR since 21 November 2024. Refinance is always tested.