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RATE PULSE
Variable Rate Mortgage Telemetry (Floating)
Variable Rate (Floating)Effective Rate5.10%Prime -1.85% (Floating)
Variable BaseLender Prime6.95%BoC Overnight + 2.20%
5-Yr Fixed Benchmark4.49%
5-Yr Fixed is 0.61% lower
i

Your mortgage is on a Variable Rate (5.10%). It floats with commercial prime, saving ~$74/month vs baseline.

Policy Outlook
BoC Decision Countdown
12d4h22m
BOC Bias SentimentHold Expected
Market Trend
+0.05%
Central Bank BaseBoC Overnight Rate
—4.75%
CIBC

CIBC Mortgage Rates

Fixed & Variable

Compare CIBC variable rates (floating with BoC) vs. fixed rates (locked with bond yields).

BoC Overnight4.75%Policy Target
CIBC Prime6.95%BoC + 2.20%
CIBC 5-Yr Variable6.30%Prime - 0.65% (Floating)
CIBC 5-Yr Fixed4.49%5-Yr Bond Yield (Locked)
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Select Product to Preview8 options
Variable (Floating)

CIBC 5-Year Variable Flex (Special Promo)

Most Popular Variable
Pricing Driver: BoC Overnight Rate + 2.20% Prime

Discounted variable rate with fluctuating interest rate and stable regular payments.

CIBC Variable Rate6.30%
Est. CIBC Monthly Payment$3,798.97On $542,000 (22 yrs)
Payment Difference
+$379.27/mo
Higher monthly obligation
Fixed vs. Variable: Key Differences
Fixed Rate Mortgages

Interest rate is locked in for the contract duration (1–5 yrs). Driven by Government of Canada bond yields, not the BoC overnight rate. 100% predictable payments; zero trigger rate risk.

Variable Rate Mortgages

Interest rate floats with CIBC Prime (BoC + 2.20%). Immediately captures interest savings when central banks cut rates; subject to trigger rate thresholds if interest rates rise.

Data as of June 3, 2026.

Source: Bank of Canada Valet API.

Estimate only. Not financial advice.

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