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Quebec Mortgage Rates

Updated

The posted mortgage rates the Bank of Canada reports are national figures, the same for Quebec as for the rest of Canada. What is specific to Quebec is the closing: a notary draws up the mortgage deed, and the welcome tax is a municipal duty whose brackets differ between Montreal and Quebec City. This page covers those Quebec pieces; the mortgage rates hub covers how rates are set and how to compare them.

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Prices and payments in Quebec

Quebec’s average sale price, total sales volume divided by the number of sales in the Quebec Professional Association of Real Estate Brokers’ Centris figures, was $565,212 in August 2026. The Quebec housing market, Montreal housing market and Quebec City housing market reports track prices by area.

On that price, a 20% down payment leaves a mortgage of $452,170. Amortized over 25 years, the monthly payment is $2,917 at the 6.09% posted 5-year rate of September 30, 2026 and $2,500 at 4.49%, the average on uninsured fixed mortgages of 5 years and over that chartered banks funded in July 2026. The Bank of Canada has no Quebec rate series, so these are national rates; the mortgage rates hub shows the current ones, and the 5-year fixed rate guide explains why offered rates sit under posted ones.

The notary and the mortgage deed

Under article 2693 of the Civil Code of QuĂ©bec, an immovable hypothec (a mortgage on real estate) must be granted by notarial act en minute, a deed a notary draws up and keeps, or it is absolutely null. So a mortgage on a Quebec home is valid only as a deed drawn up by a notary (Civil Code of QuĂ©bec). The notary’s fee is one of the closing costs to budget for; the Quebec closing cost calculator lists the others.

The welcome tax (transfer duties)

Quebec’s Act respecting duties on transfers of immovables requires every municipality to collect duties on the transfer of any immovable in its territory (Quebec Finance bulletin). The duties are charged by bracket on the tax base, which in Montreal is the highest of the price paid, the price stated in the deed and the assessed value multiplied by the city’s comparative factor. Montreal notes that its brackets change every year. These are Montreal’s brackets from January 1, 2026:

Tax baseMontreal rate
Up to $62,9000.5%
$62,900 to $315,0001.0%
$315,000 to $552,3001.5%
$552,300 to $1,104,7002.0%
$1,104,700 to $2,136,5002.5%
$2,136,500 to $3,113,0003.5%
Over $3,113,0004.0%

Quebec City’s brackets for 2026 are:

Tax baseQuebec City rate
Up to $62,9000.5%
$62,900 to $315,0001.0%
$315,000 to $500,0001.5%
$500,000 to $750,0002.5%
Over $750,0003.0%

Each municipality collects its own duties, so check the brackets of the one where you buy; the Quebec land transfer tax calculator covers how the duties work across the province.

On a Montreal purchase with a tax base equal to Quebec’s average sale price, $565,212, the brackets above give transfer duties of $6,653.24. A buyer who qualifies for Quebec’s first-time buyer credit (below) would get $5,413 of that back.

First-time buyer help in Quebec

Quebec's finance ministry announced that a refundable tax credit for access to homeownership will be introduced starting in the 2026 taxation year. For a qualifying home in Quebec acquired on or after January 1, 2026, it repays the first $5,000 of transfer duties (the welcome tax) in full and 25% of the rest, up to $5,875, reduced for homes valued above $750,000 and nil at $1,000,000. The home qualifies either as your first home that you intend to live in within a year, or as a home bought so that a person with a severe and prolonged impairment (you or someone related to you) can live in a more accessible or better-suited home. You or your spouse must have paid the duties. The home has to meet one of these tests:

  • First-home test: it's your first housing unit and you intend to live in it as your principal residence within a year. You didn't own a home you lived in from the start of the fourth calendar year before the purchase, and your spouse didn't own one you lived in during your marriage in that period.
  • Disability test: you buy the home intending that a specified disabled person live in it as their principal residence within a year, so that they can live in a home that is more accessible or where they are more mobile or functional, or in an environment better suited to their needs and care. Under this test the home doesn't have to be your first, and you don't have to live in it yourself.
  • A specified disabled person is you or a person related to you who is eligible for the tax credit for a severe and prolonged impairment in mental or physical functions, or a person for whom the supplement for handicapped children is paid.

The details are in the Quebec government announcement and the MinistĂšre des Finances bulletin; the federal programs that can be combined with the credit are set out in the Quebec first-time home buyer guide.

Lenders in Quebec

Quebec-based lenders whose sites offer mortgages include Desjardins and National Bank, alongside the other national banks. A mortgage broker can compare several lenders’ offers at once.

Sources

The figures and rules on this page come from these sources, last checked against them between September 24, 2026 and October 2, 2026. How we check facts.