Mortgage intelligence
Prime Rate in Canada Today
The prime rate is 4.70% (Nov 11, 2026). It's the base rate banks use to price variable mortgages and lines of credit.
Built on official Canadian sourcesUpdated 2026-11-12
Prime rate
4.70%
Nov 11, 2026 · Bank of Canada
Policy rate
2.50%
Nov 11, 2026 · Bank of Canada
Average new insured variable
3.74%
−0.01 pts since Jul 2026
Aug 2026 · Bank of Canada
Average new uninsured variable
3.90%
+0.04 pts since Jul 2026
Aug 2026 · Bank of Canada
Prime and the policy rate
Banks generally move prime when the Bank of Canada changes its policy rate.
Who it affects
- Variable-rate mortgages (payment or amortization changes)
- Home equity lines of credit
- Other lines of credit
Sources
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.