As of October 23, 2026, here is where our best insured rates sit: 3-year fixed at 4.49%, 5-year fixed at 4.44% (a Quick Close special), and 5-year variable at Prime minus 1.00% (3.45%).
The Bank of Canada's next rate decision lands on October 28. If you have a variable-rate mortgage, this is one to watch. Fixed rates have been inching around lender by lender in the meantime, so the best deal depends on timing and which lender fits your situation.
If your mortgage is coming up for renewal, start the conversation early. Many Powell River mortgages written in 2021 and 2022 at much lower rates are maturing in the next year. Starting the renewal conversation 4 to 6 months early protects your options, and the early-renewal offer from your current lender is not always the best deal available.
Garth Financial in Powell River can run the numbers with no obligation. Call (604) 223-9401 or use the Apply Now page to get started.
