- A rate lock protect you from financial market fluctuations that could affect your mortgage interest rate range.
- You are free to choose to lock or not lock your interest rate range. On the moment you lock, your mortgage rate remains available to you for a set period of time.
- If there are no subsequent changes to your loan and your interest rate range is locked, the interest rate range on your application generally remains the same.
- If there are changes to your loan, your final interest rate at closing may be different. Check out our current mortgage quotes.
Mortgage interest rates are affected by the financial markets and can change daily, or even multiple times within the same day. The mortgage interest rates are based on many different and variable economic indicators in the financial markets. To see Canada’s current mortgage rates View our current mortgage rates.