What is the average mortgage rate in Quebec, Canada?

The current 5-year fixed mortgage rate in Quebec is approximately 4.31%, and the variable rate is approximately 3.62% (Bank of Canada data, as of Apr 16, 2026). Rates vary by lender, term, and whether you require CMHC insurance.

Do I need CMHC insurance when buying a home in Quebec?

CMHC mortgage default insurance is required in Quebec when your down payment is less than 20% of the purchase price. Premiums range from 2.80% to 4.00% of the insured loan amount and are added to your mortgage balance — not paid at closing.

What is the stress test rate for mortgages in Canada?

Under OSFI Guideline B-20, all Canadian mortgage applicants must qualify at the higher of their contract rate plus 2%, or 5.25%. With a 5.24% contract rate, the qualifying rate is approximately 7.24%.

Mortgage Calculator — Quebec, Canada

Q: What is the land transfer tax in Quebec?

Quebec has a 'Welcome Tax' (Taxe de bienvenue) charged by municipalities. The rate is 0.5% on the first C$56,300, 1% on C$56,300–C$282,200, and 1.5% above C$282,200. Montreal's rate increases to 2% above C$563,000 and 2.5% above C$1,126,000.

Pre-filled with Quebec's average home price of C$440000, property tax of C$3740/year, and a 5-year fixed rate of 4.31%. Adjust any value below.

OSFI Stress Test: You must qualify at 7.24% (contract rate + 2%) under Canada's mortgage stress test rules. This calculator shows your actual payment — your lender will verify you can afford the stress-test rate.

Reference Rates

5-yr Fixed 4.31% Variable 3.62% Prime Rate 4.46% BoC Rate 2.2649%

Apr 16, 2026 · Bank of Canada

1 Loan Details

Home Price

Down Payment

Loan Amount

Auto-calculated —

Interest Rate (live 5-yr fixed 4.31%)

Amortization Period

2 Monthly Costs (Quebec averages pre-filled)

Property Tax (annual) ~0.85% in QC

Home Insurance (annual)

Condo Fees (monthly, if applicable)

Include CMHC Insurance

Required when down payment < 20%

Estimated Monthly Payment

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Enter your loan details to see your payment

Principal & Interest

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Property Tax

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Home Insurance

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Condo Fees

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Total Interest Paid

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Over loan lifetime

Total Cost

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Principal + interest

Loan Amount

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Amount financed

Down Payment

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Of home price

Monthly Payment Breakdown

Balance Over Time

Rate Comparison

How your payment changes with different interest rates

Rate Scenario	Monthly P&I	Total Interest
Enter loan details above to see rate scenarios

Amortization Schedule

Full month-by-month payment breakdown

Quebec Housing Market

Quebec offers some of Canada's best housing affordability outside the Prairies. Montreal remains significantly cheaper than Toronto or Vancouver despite recent appreciation. Quebec City is one of the country's most stable markets. Strong rental rights and tenant protections make renting a viable long-term option.

Average Home Price C$440000

Effective Property Tax Rate ~0.85%

Avg Annual Property Tax C$3740

Avg Annual Insurance C$1100

Stress Test Rate ~7.24%

Buying in Quebec

At C$440,000 average price, Quebec is one of Canada's most accessible major markets. Montreal condos remain well below Toronto and Vancouver equivalents. Combined municipal and provincial taxes, however, make ongoing costs important to budget carefully.

Land Transfer Tax

Quebec has a 'Welcome Tax' (Taxe de bienvenue) charged by municipalities. The rate is 0.5% on the first C$56,300, 1% on C$56,300–C$282,200, and 1.5% above C$282,200. Montreal's rate increases to 2% above C$563,000 and 2.5% above C$1,126,000.

CMHC Default Insurance

CMHC insurance is required for down payments of 5–19.99%. Quebec's notarial system adds unique closing costs — a notary (rather than a lawyer) handles the transaction, typically costing C$1,200–C$2,000.

Key Markets

Montreal Quebec City Laval Longueuil Gatineau

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