Quebec Mortgage Rates: Live Bank & Broker Rates for Quebec Borrowers
Quebec operates under a Civil Code legal framework that makes its mortgage mechanics subtly different from every other Canadian province. Mortgages in Quebec are technically hypothecs — secured obligations rather than security interests — which affects enforcement, renewal paperwork, and notary-vs-lawyer closing requirements. The rates below reflect the same Big 5 and challenger lender pricing available to borrowers in Montreal, Quebec City, and across the province, with notes on the Welcome Tax (Droits de mutation) and Quebec-specific regulatory quirks.
Live Rates Available in QuebecLast updated 2026-05-15
| Lender | 5-Year Fixed | 3-Year Fixed | 5-Year Variable |
|---|---|---|---|
Lender 1 | 4.24% | 4.09% | 3.49% |
Bank 1 | 4.29% | 4.39% | 3.65% |
Bank 4 | 4.29% | 4.49% | 3.95% |
Bank 5 | 4.51% | 4.29% | 4.53% |
Bank 2 | 4.59% | 4.74% | 4.09% |
Bank 3 | 4.94% | 4.79% | 4% |
Rates are posted or discounted offers sourced directly from each lender. Lender pricing does not vary by province in Canada—the same rates above are available to qualified borrowers in Montreal, Quebec City, Laval, and across Quebec.
Quebec Market Context
Montreal dominates Quebec’s mortgage market with roughly 50% share, but the province is notable for its unusually active secondary markets: Quebec City, Laval, Gatineau, Sherbrooke, Trois-Rivières, and Saguenay all carry meaningful origination volumes. Average prices range from $430K in Montreal to $350K in Quebec City and under $300K in smaller markets.
Quebec borrowers show meaningfully different product preferences than the rest of Canada. Variable-rate adoption is higher in Quebec than in Ontario or BC, and 2-year to 3-year fixed terms have long been more popular than the national standard 5-year. This is partly a cultural preference for flexibility and partly a reflection of Desjardins’ market-leading position, which has historically favored shorter terms.
Quebec’s loan-to-income ratios are the lowest of any major Canadian market (median 2.9x), reflecting the province’s lower housing costs and higher savings rates. This gives Quebec borrowers structural resilience to rate shocks compared to Ontario or BC.
Quebec Welcome Tax (Droits de Mutation)
Quebec charges a municipal Welcome Tax (Droits de mutation immobilière, informally called the "Taxe de Bienvenue") on every property transfer. The tax is tiered: 0.5% on the first $55,000, 1% from $55K–$275,000, and 1.5% above $275,000. Montreal and Quebec City both apply additional brackets at higher thresholds — Montreal adds 2% on $500K–$1M, 2.5% on $1M–$2M, and 3% above $2M.
On a $600,000 Montreal home, the Welcome Tax totals approximately $8,875. On a $1M Montreal home, it rises to $15,000. The tax is paid by the buyer roughly 3–6 months after closing — many buyers are surprised by the lag and fail to set aside funds.
Quebec offers no province-wide first-time buyer rebate, but Montreal runs a Home Ownership Program that provides up to $10,000 toward the purchase of an eligible property (new construction or specific heritage units, with family composition requirements).
Mortgage closings in Quebec must be handled by a notary (not a real estate lawyer as in other provinces). Notary fees typically run $1,200–$1,800 plus disbursements — comparable to lawyer fees in common-law provinces but governed by the Civil Code rather than common-law rules.