Montreal Mortgage Rates: Live Bank & Broker Rates for the Montreal Region
A Montreal purchase is a hypothec under the Civil Code of Québec, signed before a notary, with droits de mutation immobilière (the “welcome tax”) invoiced by the city months after the deed. That is not an Ontario solicitor closing and it is not a land-transfer-tax cheque on closing day. The coupons in the table are the national file. What is local is the notary’s dual mandate, the résidence familiale protection, the plex (2–4 unit) product class that barely exists in common-law provinces, and a municipal mutation-tax schedule that sits on top of the provincial floor on high-value transfers.
Verified 2026-08-29
Live coupons available to Montreal borrowersLast updated 2026-10-18
| Source | 5-Year Fixed | 3-Year Fixed | 5-Year Variable |
|---|---|---|---|
Lender 1 | 4.59% | 4.54% | 3.49% |
Bank 1 | 4.84% | 4.99% | 3.85% |
Bank 3 | 4.89% | — | 3.65% |
Bank 4 | 4.99% | 5.09% | 4.05% |
Bank 2 | 5.04% | 5.19% | 3.94% |
Bank 5 | 5.19% | 4.99% | 4.12% |
National coupons. Montreal does not get a different 5-year fixed because the closing is a hypothec. Differentiation is the welcome-tax invoice, the notary, and a market that still prefers shorter fixed terms more often than the rest of Canada. Live figures are the current sync, not a caisse-only card.
Local rate and closing FAQs
- Is the welcome tax due on closing day in Montreal?
- Usually not. Droits de mutation are commonly invoiced by the municipality three to six months after the notary registers the deed. Treat the engine figure on this page as a deferred cash reserve, not a closing-day solicitor’s trust cheque.
- Do I need a notary or a real-estate lawyer in Montreal?
- A notary. Hypothec registration and mutation-tax mechanics run through the notarial system under the Civil Code. An Ontario-style solicitor closing is the wrong instrument.
- Are Montreal rates set by the caisses rather than the national sheet?
- The live table is the national posted-and-discounted file. Local product mix (shorter fixed terms, higher variable take-up) is a preference, not a second coupon card. Your contract rate is still negotiated against this sheet.
Plexes, the Plateau, and a shorter-term book
Montreal’s composite around $575,000 sits comfortably inside the $1.5 million insurance ceiling. Plateau-Mont-Royal, Rosemont–La Petite-Patrie, Villeray and Côte-des-Neiges condos and plexes are the core book. The West Island, Laval, Longueuil and Brossard are the off-island complements. A duplex where the owner occupies one unit and rents the other is a standard Montreal origination; in most common-law cities it is a niche.
Owner-occupied plex qualifying can treat a portion of the other unit’s rent as income, with vacancy haircuts. That is a GDS/TDS construction, not a special coupon. The live 5-year variable and 3-year fixed on this page are the same national numbers; the file just has a rental-offset exhibit the Toronto condo file lacks.
Quebec borrowers have long favoured 2-year and 3-year closed terms more than the national 5-year habit, and variable take-up is higher. That is a product-mix fact tied to how the province’s large caisse network has historically priced shorter terms, not a second rate card. When you read the 3-year column on this page for a Montreal purchase, you are often looking at the term the borrower will actually take.
Loan-to-income is the lowest of the large metros. Renewal shock in 2026 is real but starts from a lower leverage base than a 416 origination. The straight-switch exemption (21 November 2024) applies to uninsured hypothecs that meet the same-amount / same-amortization / same-schedule test, with Civil Code paperwork the Ontario charge does not need.
Droits de mutation, delayed invoice, notary
The provincial mutation-tax floor (Revenu Québec / municipal collection) uses indexed brackets: 0.5% on the first band, then 1%, 1.5%, 2% and 2.5% on higher bands. Montreal is allowed to add higher municipal brackets on expensive transfers (including a 3% band on the uppermost slice). The engine box below prices the provincial schedule in lib/land-transfer-tax.ts on this page’s $575,000 example so the dollar figure matches the calculator. It does not invent a Montreal-only surcharge the engine does not compute — for a high-value Plateau or Outremont deed, confirm the municipal by-law with the notary.
Unlike Ontario PLTT, the welcome tax is commonly invoiced three to six months after signing. Buyers who treat it as a closing-day line miss it and then scramble when the municipal bill arrives. Wire it as a deferred closing cost. There is no province-wide first-time mutation-tax rebate.
The notary (notaire) is mandatory. Fees typically land in the $1,200–$1,800 range plus disbursements. The notary holds a duty to both sides, registers the hypothec, and confirms title. That is a broader statutory role than an Ontario real-estate lawyer’s. It is not cheaper because the coupon is national; it is a different professional monopoly.
Résidence familiale rules can require a spouse’s consent to hypothecate the family residence even when that spouse is not on title. Missing consent delays registration. It does not change Prime.
Welcome-tax math on a Montreal-sized deed
- Provincial / statutory levy (not first-time): $7,343
- First-time relief on this example: $0
- Net after first-time relief: $7,343
Totals from Ratellow’s land-transfer-tax engine (same as the calculator). Live contract rates on this page are a separate dataset and are not mixed into these levies.
The engine prices the provincial mutation schedule on $575,000. Set that amount aside even though the invoice may not arrive until autumn if you signed in spring. Notary disbursements and, on a plex, a second-unit rent roll for the underwriter sit beside it.
A $1 million Outremont or Westmount consideration climbs the upper brackets; Montreal’s extra municipal band can apply. Re-run the calculator and ask the notary which municipal by-law applies. Do not copy the $575,000 engine output onto a million-dollar deed.
First-time in Montreal: no provincial mutation rebate
Quebec does not run a province-wide first-time welcome-tax refund. Montreal’s Home Ownership Program can contribute up to $10,000 on eligible new or heritage units with family-composition conditions. It is narrower than Ontario’s $4,000 PLTT refund and it does not apply to every Plateau resale.
FHSA and the Home Buyers’ Plan still apply. Bill C-4 GST relief applies to eligible new construction. Those are the cheques. Do not budget an Ontario-style LTT refund on a Montreal deed.
Thirty-year insured amortization for first-time and new-build purchases is available on qualifying high-ratio hypothecs. The discontinued shared-equity incentive is not. Plex owner-occupiers who are first-time on title still need to tell the notary before registration; there is no late municipal refund equivalent to Ontario’s 18-month late LTT claim.
Hypothec, plex rent, OACIQ vs common-law
A hypothec is a secured obligation under the Civil Code, not a common-law mortgage charge. Enforcement, renewal paperwork and discharge run through that statute. The live 5-year fixed is still a number on a national sheet; the security instrument is not the same PDF an Ontario solicitor registers.
Plex files live or die on the rent roll, vacancy haircut and whether the borrower will occupy a unit. Owner-occupied 2–4 unit underwriting is a CMHC-era product class with its own down-payment and rental-offset rules. See the duplex scenario linked below rather than treating a triplex like a condo.
Broker regulation is provincial (OACIQ for real-estate brokerage; mortgage brokerage is separately licensed). That does not create a Montreal coupon. It creates a different complaint and disclosure path than FSRA in Ontario.