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Best 4-Year Fixed Mortgage Rates in Canada
Today’s Best 4-Year Fixed Rate. Last updated June 28, 2026
As of June 28, 2026, nesto’s lowest 4-year fixed insured mortgage rate in Canada is 4.29%. The 4-year fixed is one of the least-chosen terms in Canada: the 3-year fixed is usually cheaper and renews sooner, and the 5-year fixed adds a year of certainty for a small premium. Borrowers who choose a 4-year term almost always have a specific 4-year plan in mind.
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*Insured loans. Other conditions apply. Rate in effect as of today (Sunday, June 28, 2026).
Compare Current 4-Year Fixed Mortgage Rates Across Canada
Wherever you are in Canada, you can compare today’s live 4-year fixed mortgage rates in minutes. The table below shows nesto’s current discounted pricing for insured, insurable, and uninsured mortgages, pulled directly from our pricing engine and refreshed whenever 4-year Government of Canada (GoC) bond yields and lender funding costs change. Choose the rate type that matches your down payment and property price, then see how nesto compares to Canada’s Big 6 Banks.
These rates apply to insured mortgages between $700,000 and less than $1,375,000. Conditions apply. For a personalized payment estimate, use nesto’s Mortgage Payment Calculator.
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Today’s National 4-Year Fixed Mortgage Rate Trends
For Sunday, June 28, 2026:
Canada’s average 4-year fixed conventional mortgage rate is currently 5.18%, priced off the 4-year Government of Canada (GoC) bond yield, which sits at 2.96%. The gap between the two is the lender spread that covers funding costs and risk. As fixed rates follow government bond yields, the 4-year fixed tracks the 4-year GoC bond and typically lands between the 3-year fixed and the 5-year fixed without beating either on rate.
Note: one basis point is 1/100th of a percentage point, or 0.01%.
What is the average 4-year fixed mortgage rate in Canada today?
As of June 28, 2026, Canada’s average 4-year fixed conventional mortgage rate is
What is the lowest 4-year fixed insured mortgage rate in Canada today?
As of June 28, 2026, the lowest 4-year fixed insured mortgage rate available through nesto is 4.29%. Insured rates apply to high-ratio mortgages with a down payment of less than 20% on a property priced under $1.5 million. Your 4-year fixed mortgage rate is locked for the full 48-month term.
Find the Best 4-Year Fixed Mortgage Rate
nesto’s 4-year fixed pricing depends on whether your mortgage is insured, insurable, or uninsured, priced by loan-to-value bracket. The table below shows today’s best 4-year fixed rate for each borrower profile, along with the stress test minimum qualifying rate (MQR) set by the Office of the Superintendent of Financial Institutions (OSFI).
| Mortgage Type | 4-Year Fixed Rate | Stress Test Qualifying Rate | Best For |
|---|---|---|---|
| Insured (down payment less than 20%) | 4.29% | 6.29% | First-time buyers and high-ratio purchases under $1.5M |
| Insurable, 0 to 65% LTV (down payment of 35% or more) | 4.37% | 6.37% | Buyers with 35% or more down |
| Insurable, 65 to 70% LTV (down payment of 30% to 34.99%) | 4.47% | 6.47% | Buyers with 30% to 35% down |
| Insurable, 70 to 75% LTV (down payment of 25% to 29.99%) | 4.57% | 6.57% | Buyers with 25% to 30% down |
| Insurable, 75 to 80% LTV (down payment of 20% to 24.99%) | 4.62% | 6.62% | Buyers with 20% to 25% down |
| Uninsured (conventional) | 4.71% | 6.71% | Refinances, properties over $1.5M, or 30-year amortizations |
3-Year Fixed vs 4-Year Fixed vs 5-Year Fixed
The 4-year fixed term sits between the two most commonly chosen fixed terms in Canada. The 3-year fixed is usually cheaper and brings your renewal decision sooner, and the 5-year fixed buys an extra year of certainty for a small premium. The 4-year fixed has neither edge. The table below shows how the three compare today.
| Decision Factor | 3-Year Fixed | 4-Year Fixed | 5-Year Fixed |
|---|---|---|---|
| Today’s nesto best insured rate | 4.14% | 4.29% | 4.09% |
| Term length | 36 months | 48 months | 60 months |
| Rate type | Fixed | Fixed | Fixed |
| Break penalty | Greater of three months’ interest or IRD | Greater of three months’ interest or IRD | Greater of three months’ interest or IRD |
| Rate determinant | 3-year GoC bond yield | 4-year GoC bond yield | 5-year GoC bond yield |
| Most suitable for | A lower rate today with an earlier renewal | A hard four-year plan or horizon | Maximum certainty for a small premium |
This is the structural reason the 4-year fixed rarely wins. There is no scenario in which it is the cheapest option or offers the most certainty per dollar. When a borrower rejects the 5-year term as too long, they usually opt for the 3-year fixed term rather than the 4-year term. The 4-year fixed earns its place only when the borrower has a specific four-year reason, given their unique financial circumstances.
Who Should Choose a 4-Year Fixed Mortgage?
The 4-year fixed term wins when it aligns with the borrower’s planned event time horizon. What these borrowers share is a hard four-year horizon that lines up with the term, rather than a general wish for four years of certainty.
The Borrower With a Four-Year Horizon
If you have a planned move tied to a four-year timeline, a child starting school and a relocation at that point, or a family timeline that sets a clear endpoint, a 4-year term keeps your commitment aligned with the date you already know. Matching the term to the plan keeps you from breaking the mortgage early and paying a penalty.
The Planned-Purchase Saver
If you are building toward a second-property purchase or another large goal on a roughly 4-year timeline, the 4-year fixed provides you with payment certainty throughout the savings period and a renewal decision that arrives just as your plan comes together. You can also take advantage of your prepayment privileges along the way to further reduce your break costs if you reach your goal early.
The Contract or Vesting Borrower
If a business contract, a lease expiry, or a vesting event creates a firm four-year planning window, matching the mortgage term to that window can make sense. This is a deliberate choice, so weigh it against nesto’s mortgage rate forecast and remember that the 3-year fixed often costs less while you wait.
Why So Few Borrowers Choose a 4-Year Fixed
The 4-year fixed term is among the least chosen terms in Canada, and the reasons are structural rather than accidental. Most lenders put no marketing behind it, and most rate comparison sites feature the 1-, 2-, 3-, and 5-year terms while burying or omitting the 4-year. Since the 4-year fixed term has no rate advantage over the 3-year and no certainty advantage over the 5-year, it rarely enters a borrower’s consideration on its own.
That is also why the borrowers who do choose it tend to be the most deliberate. They are not defaulting to it, nor are they being steered to it by a featured placement; they have a specific four-year reason and have asked for the term directly. nesto offers the 4-year because some borrowers genuinely need it.
How 4-Year Fixed Mortgage Rates Are Set in Canada
A 4-year fixed rate is anchored to the 4-year Government of Canada (GoC) bond yield. Lenders price the mortgage at the bond yield plus a spread that covers their funding costs, servicing, and the risk of lending. Your borrower and credit risk profile then sets a personalized rate.
How do bond yields drive your 4-year fixed rate?
Fixed mortgage rates follow bond yields, with an added spread to cover the lender’s risk and funding costs. When 4-year bond yields rise, funding a 4-year mortgage becomes more expensive, so lenders raise their fixed rates; when yields fall, rates ease. Lenders tend to raise fixed rates quickly and lower them more slowly, to protect their margin during volatile periods in the bond market.
Why does the 4-year rarely beat the 3-year or 5-year?
Each fixed term is priced off the corresponding bond, so the 4-year fixed is priced off the 4-year bond, the 3-year fixed off the 3-year bond, and the 5-year fixed off the 5-year bond. The 5-year bond is the most actively traded of the three, and strong demand for it helps keep 5-year yields and the rates priced off them competitive. That leaves the 4-year fixed without a structural pricing edge over the other options. You can compare today’s mortgage rates in the rate options above.
What sets your 4-year fixed rate within a range?
Your loan-to-value ratio, credit profile, income, property use, and transaction type all affect the 4-year fixed rate you are offered. Insured and insurable mortgages typically receive lower rates because default insurance reduces lenders’ risk, whereas uninsured mortgages are priced higher.
Is a 4-Year Fixed Mortgage Worth It in 2026?
For most borrowers, a 4-year fixed is not worth it. The 4-year term is one of the least chosen rate options in Canada because it gives up the lower rate and earlier renewal of the 3-year fixed and the longer certainty of the 5-year fixed, without a clear advantage of its own.
If you cannot name a reason that aligns with 4 years, the 3-year fixed is usually the cheaper and more flexible choice, and the 5-year fixed gives more certainty for a small premium, given your unique financial circumstances.
Learn About 4-Year Fixed Mortgage Rates
Mortgage shopping can be confusing, especially if you are a first-time home buyer or renewing or refinancing for the first time. Find below the most common questions about 4-year fixed mortgages in Canada.
What is a 4-year fixed mortgage rate?
A 4-year fixed mortgage rate is an interest rate with a fixed payment for a 48-month term. Your rate and payment do not change during the term, regardless of what happens to bond yields or the Bank of Canada policy rate. At the end of the 48 months, you renew at a new rate for a new term, repeating until your mortgage is paid off or your amortization ends.
How are 4-year fixed mortgage rates determined?
4-year fixed rates are set by the 4-year Government of Canada (GoC) bond yield plus a lender spread. When bond yields move, new 4-year fixed rates move with them, though your rate stays locked once you have signed.
Your personal 4-year fixed-rate offer depends on your loan-to-value (LTV) ratio, credit profile, and whether the mortgage is insured, insurable, or uninsured.
Is a 4-year fixed mortgage a good idea in Canada?
The 4-year fixed is a good idea for a narrow set of borrowers: those with a specific 4-year horizon, such as a planned move, purchase, or contract or lease end. For most borrowers, the 3-year fixed offers a lower rate and an earlier renewal, and the 5-year fixed offers more certainty for a small premium.
Why do so few people choose a 4-year fixed mortgage?
The 4-year fixed term is among the least chosen terms in Canada because it offers no structural advantage and little visibility. It is rarely cheaper than the 3-year fixed and rarely offers more certainty per dollar than the 5-year fixed, so it does not win on either measure. Most lenders do not market it, and most rate comparison sites bury or omit it, so it seldom enters a borrower’s consideration unless they seek it out for a specific reason.
What is the difference between a 4-year and a 5-year fixed mortgage?
Both the 4-year and 5-year fixed lock your rate and payment for the full term; the difference is the length and the pricing. The 4-year covers 48 months and is priced off the 4-year bond yield, while the 5-year covers 60 months and is priced off the 5-year bond yield. The 5-year fixed usually costs only a small premium over the 4-year term for an extra full year of certainty, which is why far more borrowers choose it.
Can I break a 4-year fixed mortgage early?
Yes, a 4-year fixed rate can be prepaid before maturity, but breaking a fixed mortgage triggers a penalty equal to the greater of three months’ interest or the interest rate differential (IRD). On a longer fixed term, the IRD for the remaining term is higher, so the timing of your break matters; the actual cost depends on your balance, your rate, and how much time remains. Estimate your penalty with nesto’s mortgage penalty calculator before signing.
How do I apply for a 4-year fixed mortgage with nesto?
To apply for a 4-year fixed mortgage with nesto, answer a few questions through nesto’s online application, or call to speak with a nesto mortgage expert.
nesto offers a pre-qualification rather than a pre-approval with a rate hold, so your best rate locks once you have an accepted offer to purchase or an approved switch or transfer at renewal. nesto offers its longest rate hold, up to 150 days, on its 5-year fixed and 5-year variable mortgages, so a 4-year fixed carries a shorter rate hold, typically up to 120 days. nesto mortgage experts are commission-free and salaried, so the guidance you receive is suited to your unique financial circumstances.
Why Choose nesto
At nesto, our commission-free mortgage experts, certified in multiple provinces, provide exceptional advice and service that exceeds industry standards. Our mortgage experts are salaried employees who provide impartial guidance on mortgage options tailored to your needs and are evaluated based on client satisfaction and the quality of their advice. nesto aims to transform the mortgage industry by providing honest advice and competitive rates through a 100% digital, transparent, and seamless process.
nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.
Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.