Best 4 Year Fixed Mortgage Rates

4 year fixed mortgage rate is usually considered an afterthought for most of the mortgage shoppers. But this term can also be the market’s best value. On average, fixed mortgage rates are the most popular in Canada with a 66% penetration. The popularity of the fixed mortgage rates is that it protects the borrower against the fluctuations in interest rates. The payments therefore stay constant during the term duration.



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3.44%

4 Years

Fixed Closed

Pre-Payment:

15% Lumpsum

3.49%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.49%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.54%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.64%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.69%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.89%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.89%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.94%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.99%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

3.99%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

4.09%

4 Years

Fixed Closed

Pre-Payment:

25% Monthly

25% Lumpsum

4.29%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

4.29%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

4.59%

4 Years

Fixed Closed

Pre-Payment:

10% Monthly

10% Lumpsum

4.59%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

4.89%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

5.04%

4 Years

Fixed Closed

Pre-Payment:

20% Monthly

20% Lumpsum

Compare the Best 4 Year Fixed Mortgage Rates in Canada

The 4 year fixed mortgage rates provide stability to the borrower since the mortgage rate and the payments will remain constant each month. However, this security is the reason why the fixed interest rates are particularly high. This applies for the 4 year fixed mortgage rate as well, though it’s a little bit cheaper compared to the 5 year mortgage rate. It’s important to note that not all 4 year fixed mortgage rates have been created equally, the terms and conditions may vary in addition to interest rate. Making comparisons on all the options will therefore help you make an informed choice

How Popular is 4 Year Fixed Mortgage Rates in Canada

The 4 year fixed mortgage rate is equally not as popular as the 5 year fixed mortgage rate. 4 year rate has a 20% popularity out of all the mortgages, and the popularity is slightly well established among the younger Canadian age groups. About 1 out of 16 borrowers in the country choose the 4 year fixed mortgage rate. It is particularly common among those people who purchase a home for their children in university since the 4 year term corresponds to the length of time a 4 year degree takes.

Pros & Cons of a 4yr Fixed Mortgage Rate

People in Canada opt for the 4 year fixed mortgage rate due to the following reasons:

  • It’s considerably cheaper compared to 5 year fixed rate but not as much as the 3 year fixed rate.
  • Those who chose it expect a mortgage that lasts not longer than 4 years. An average Canadian renegotiates or terminates their mortgage in about 3 and a half years.

4 year fixed mortgage rate also have disadvantages:

  • The 4 year fixed rate can have a higher penalty if the borrower terminates their mortgage early.
  • If the rates significantly jump, the rate that the borrower renews into after the 4 years could cost more than upfront savings of selecting the 4 year term instead of the 5 year term.

Current Mortgage Rates

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