Current Rates
Canadian Debt Consolidation Rates
See how much you could save at today's rates. Updated regularly based on Bank of Canada policy and lender pricing.
BoC Overnight Rate
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Next Announcement
Wednesday, March 4, 2026
Today
By Credit Tier
Consolidation Rate Ranges
Example payments based on $106,000 consolidated over 25 years. Your actual rate depends on your full profile.
Rates are approximate and subject to change. Based on $106,000 debt consolidated over 25 years at the midpoint rate for each tier. Actual rates depend on individual circumstances including credit score, LTV, and property type.
See Your Personalized Rate
Your exact rate depends on your credit score, home equity, and province. Get a personalized estimate in under 2 minutes.
Understanding Rates
How Your Rate Is Determined
Credit Score
Your credit score is the primary factor. Higher scores unlock lower rates. The median score among the 276+ families we have helped is 649 — well within range for competitive consolidation rates.
Loan-to-Value (LTV)
LTV is your mortgage balance divided by your home value. Lenders offer better rates at lower LTVs because there is more equity cushion. Most consolidation loans stay under 80% LTV.
Property Type
Single-family homes typically qualify for the best rates. Condos, townhomes, and rural properties may carry a small premium depending on the lender.
Province
Regulatory frameworks and lender availability vary by province. Alberta, British Columbia, and Ontario have the most lender competition, which often means better rate options.
FAQ
Rate Questions
Why are consolidation rates higher than standard mortgage rates?
Debt consolidation mortgages often involve higher loan-to-value ratios and borrowers with varied credit profiles. Lenders price risk accordingly. However, even at these rates you typically save significantly compared to credit card rates of 19.99% - 29.99%.
How does the Bank of Canada rate affect my consolidation rate?
The BoC overnight rate is the baseline for variable-rate lending in Canada. When it drops, variable consolidation rates follow. Fixed rates are more influenced by the bond market but still respond to BoC policy signals.
Can I get a better rate than what is shown here?
Yes. The ranges shown are general guidelines. Your actual rate depends on your specific credit score, loan-to-value ratio, property type, income stability, and province. A broker consultation can identify the best rate available to you.
Is there a broker fee for debt consolidation?
Broker fees for debt consolidation typically range from 1 - 2% of the mortgage amount. In many cases the fee is built into the lender rate, meaning no out-of-pocket cost. The savings from consolidation almost always exceed the fee — your broker will show you the exact numbers.
How often do these rates change?
Rates are influenced by Bank of Canada announcements (8 times per year), bond market movements, and individual lender pricing decisions. We update the information on this page regularly to reflect current conditions.
Ready to Lower Your Payments?
Talk to a licensed mortgage professional about your consolidation options.
Get Your Free AnalysisAll mortgage services on DebtTools.ca are provided under the brokerage licence of Blue Pearl Mortgage Group Inc. (BCFSA #X300317). Rates shown are approximate and subject to change without notice. Actual rates depend on individual creditworthiness, loan-to-value ratio, property type, and other factors determined during the application process. This page is for informational purposes only and does not constitute financial advice.