Interest rates charged for new and existing lending by chartered banks

View or download the latest monthly data. For metadata and background information, see the notes.

Typically published within the third week of the month.

Monthly series

Our Valet API is designed to help you integrate your applications and processes with our data. For details, please see our documentation.


Month-end, rates in percentageCANSIM2022‑092022‑102022‑112022‑122023‑01
Funds advanced
Residential mortgages, insured, TotalV1226677754.925.215.325.515.65
Variable rateV1226677764.925.435.566.036.31
Fixed rate, <1 yearV1226677777.
Fixed rate, 1 to <3 yearsV1226677784.835.045.285.455.60
Fixed rate, 3 to <5 yearsV1226677794.664.935.085.245.25
Fixed rate, 5 years and overV1226677804.614.854.975.065.02
Residential mortgages, uninsured, TotalV1226677814.875.185.295.535.66
Variable rateV1226677825.045.535.666.156.47
Fixed rate, <1 yearV1226677836.176.336.326.707.28
Fixed rate, 1 to <3 yearsV1226677844.714.965.175.385.55
Fixed rate, 3 to <5 yearsV1226677854.444.875.005.125.18
Fixed rate, 5 years and overV1226677864.795.
Outstanding balances
Residential mortgages, insured, TotalV1226677873.
Variable rateV1226677884.454.995.045.505.76
Fixed rate, <1 yearV1226677895.335.535.645.926.10
Fixed rate, 1 to <3 yearsV1226677903.303.473.623.783.86
Fixed rate, 3 to <5 yearsV1226677912.642.682.732.782.81
Fixed rate, 5 years and overV1226677922.612.622.642.662.66
Residential mortgages, uninsured, TotalV1226677933.583.813.864.084.20
Variable rateV1226677944.865.375.405.896.14
Fixed rate, <1 yearV1226677954.985.135.235.375.58
Fixed rate, 1 to <3 yearsV1226677963.393.563.743.904.04
Fixed rate, 3 to <5 yearsV1226677972.572.632.722.782.84
Fixed rate, 5 years and overV1226677982.662.692.702.722.73
  1. 1. As of January 2019, insured and uninsured residential mortgages exclude residential mortgages to the corporate sector.[]

Residential variable rate mortgages

Month-end, rates in percentageCANSIM2022‑092022‑102022‑112022‑122023‑01
Funds advanced
Total variable rate mortgages, TotalV1226677995.065.545.686.166.48
Closed non-convertible variable rate mortgagesV1226678004.845.345.535.976.21
Closed convertible variable rate mortgagesV1226678015.165.665.676.206.45
Open variable rate mortgagesV1226678027.047.277.508.088.72

Consumer credit

Month-end, rates in percentageCANSIM2022‑092022‑102022‑112022‑122023‑01
Funds advanced for non-mortgage loans
Consumer credit, TotalV1226678037.307.838.018.418.75
Personal loan plansV1226678048.238.429.359.359.34
Of which: Auto loansV1226678056.987.217.667.898.03
Personal lines of credit, securedV1226678065.265.805.886.376.63
Personal lines of credit, unsecuredV1226678078.819.449.509.8310.24
Other personalV12266780814.4714.5613.2915.2814.50
Outstanding balances for non-mortgage loans
Consumer credit, TotalV1226678097.357.597.687.928.08
Personal loan plansV1226678105.926.
Of which: Auto loansV1226678115.
Credit card loansV12266781220.0519.9520.1119.9320.21
Personal lines of credit, securedV1226678134.354.644.684.985.13
Personal lines of credit, unsecuredV1226678148.939.399.5310.0110.28
Other personalV1226678155.696.376.256.887.14

Credit extended to corporate sector2

Month-end, rates in percentageCANSIM2022‑092022‑102022‑112022‑122023‑01
Funds advanced
Business loans, TotalV1226678165.105.505.896.206.32
non-mortgage loans
To regulated non-bank financial institutionsV1226678175.485.956.046.486.61
Lease receivablesV1226678185.546.236.586.386.45
Loans to individuals and others for business purposesV1226678195.085.485.896.226.33
mortgage loans
Non-residential mortgagesV1226678205.675.956.256.186.11
Outstanding balances
Business loans, TotalV1226678214.654.985.085.525.70
non-mortgage loans
To regulated non-bank financial institutionsV1226678224.705.075.075.575.67
Lease receivablesV1226678234.804.895.005.095.11
Loans to individuals and others for business purposesV1226678244.985.375.485.936.14
mortgage loans
Non-residential mortgagesV1226678254.224.414.484.674.78
  1. 2. As of January 2019, Total business loans exclude non-residential mortgages to the personal sector.[]


Source: Bank of Canada

The data shown is to provide information on the interest rates charged vis-à-vis new and existing loans, booked in Canada, in Canadian dollars only, to Canadian households and corporate sectors by institutions. Reporting coverage encompasses banks and foreign bank branches.

Information provided on mortgages and consumer credit tables represent credit extended to individuals for non-business purposes. These loans are those used to finance the acquisition of housing, consumer goods and services, including the acquisition of securities.

The funds advanced and outstanding balance section classify amounts across terms based on the term set at loan origination.

Interest-rates are calculated by a volume-weighted average, cross-sectioned on reporting institutions for a given month. The volume-weighted average interest rate for a given loan instrument in a specific month, is the sum of all reporting institutions’ weights multiplied by the reporting institutions’ interest rate. Weights are measured using a reporting institution’s funds advanced or outstanding balance for a loan instrument of a given month relative to the cumulative total funds advanced or outstanding balance of all reporting institutions for the reference loan instrument and month. A sample calculation for a loan instrument in a specific month is displayed below.

$$\begin{gather} R=\sum_{i=1}^{N}w_{i}r_{i}\\ R = weighted\,average\,interest\,rate\\ w_{i}=weight\,of\,given\,respondent\\ r_{i}=interest\,rate\,of\,given\,respondent\\ N=Set\,of\,respondents\\ \end{gather} $$

Funds advanced represents the cumulative total of new credit extended, new draws on existing credit facilities, mortgage or term-loan renewals and refinancing for a given month.

Outstanding balances are reported as month-end accounting book values, gross of allowances for expected credit losses. Outstanding balances for credit card lending is reported based on the closest billing cycle period.

Data collection on outstanding balances, auto-loans, open and closed variable rate residential mortgages began in July 2016.

For precise definitions of loan categories and general detail, please visit the Report on New and Existing Lending (A4) instructions on the OSFI website.