Find the best current mortgage rates in Quebec to ensure you are getting the best deal. Quebec offers some of the most affordable housing among Canada’s major provinces, and securing a competitive mortgage rate will further improve your affordability.
The average home price in Quebec is approximately $480,000 in 2026. With moderate land transfer tax rates and access to both national banks and Desjardins — Canada’s largest credit union group — Quebec homebuyers have competitive lending options.
Compare Today’s Best Mortgage Rates in Quebec
Looking for the most competitive mortgage rates in Quebec? Below you’ll find up-to-date rates from top lenders, whether you’re buying in Montreal, Quebec City, Gatineau, or anywhere else in the province.
Why Compare Mortgage Rates in Quebec?
Quebec’s housing market is more affordable than Ontario or BC, but your mortgage rate still significantly impacts your costs. On a $480,000 home with 10% down, the difference between a 4.00% and 5.00% rate is approximately $255 per month — or over $76,000 in total interest over 25 years.
Quebec’s Housing Market
Quebec offers solid value for homebuyers across the province:
- Average home price: ~$480,000 — significantly below Ontario (~$860,000) and BC (~$950,000)
- Montreal: Average prices around $560,000 — Canada’s most affordable major metro
- Quebec City: Average prices around $370,000 — excellent affordability
- Strong rental income potential: Quebec’s lower prices and strong rental demand make it attractive for investors
- Diverse economy: Aerospace, technology, finance, and life sciences
Quebec-Specific Lenders to Consider
Quebec has a unique banking landscape with strong local institutions:
- Desjardins — Canada’s largest cooperative financial group, headquartered in Lévis, QC. Often offers competitive mortgage rates and has the widest branch network in Quebec.
- National Bank of Canada — Headquartered in Montreal, with a strong presence across Quebec
- Laurentian Bank — Montreal-based bank serving Quebec and Canada
- Big Five banks — TD, RBC, BMO, CIBC, and Scotiabank all compete actively in Quebec
Desjardins in particular has a dominant presence in Quebec and is often worth comparing directly against the Big Five banks.
Types of Mortgage Rates Available
- Fixed Mortgage Rates: Lock in your rate for predictable payments. Popular among Quebec homebuyers who want certainty.
- Variable Mortgage Rates: Rates fluctuate with the prime rate. Can be advantageous if rates continue to decline.
- Open vs. Closed Mortgages: Open mortgages allow early repayment flexibility, while closed mortgages offer lower rates.
Quebec Land Transfer Tax (Droits de Mutation)
Quebec’s land transfer tax, known as the “droits de mutation” or “welcome tax,” applies to all property purchases:
| Purchase Price Bracket | Tax Rate |
|---|---|
| First $58,900 | 0.5% |
| $58,901 – $294,600 | 1.0% |
| $294,601 – $500,000 | 1.5% |
| $500,001 – $1,000,000 | 2.0% |
| Over $1,000,000 | 2.5% |
Montreal surcharge: The City of Montreal adds an additional 0.5% on amounts over $500,000 and 1.0% on amounts over $1,000,000.
Frequently Asked Questions
What is the average mortgage rate in Quebec right now? Mortgage rates change daily. Check the rate comparison table above for the latest competitive rates from lenders serving Quebec.
Is Desjardins good for mortgages in Quebec? Desjardins is a strong option for Quebec homebuyers. As a credit union, they often offer competitive rates, and their extensive branch network across Quebec makes them convenient for in-person service. Always compare their rates with other lenders or use a mortgage broker.
Are there first-time homebuyer programs in Quebec? Quebec first-time buyers can access the federal First-Time Home Buyer Incentive, the Home Buyers’ Plan (RRSP withdrawal up to $60,000), and the First Home Savings Account (FHSA). Quebec does not currently offer a provincial land transfer tax rebate for first-time buyers, though some municipalities may have local programs.
Tools and Resources
- Quebec Mortgage Calculator — Estimate your monthly payment on a Quebec home
- Montreal Mortgage Calculator — Payment estimates for Montreal home prices
- Mortgage Affordability Calculator — See how much home you can afford
- Mortgage Payment Calculator — Calculate payments at different rates
- Land Transfer Tax Calculator — Calculate your closing costs