British Columbia Mortgage Payments
Mortgage rates, average home prices, and payment calculations for British Columbia (BC). Updated for 2026.
Monthly Payment
$4,875.92
at 4.39% fixed
Avg. Home Price
$960,000.00
Best Fixed Rate
4.39%
Best Variable Rate
4.05%
Current Mortgage Rates in British Columbia
| Rate Type | Posted Rate | Best Available | Discount |
|---|---|---|---|
| 5-Year Fixed | 6.49% | 4.39% | -2.10% |
| 5-Year Variable | 5.45% | 4.05% | -1.40% |
Rates are approximate and updated periodically. Always confirm with your lender.
Mortgage on the Average British Columbia Home
$960,000.00 home with 10% down ($96,000.00) at 4.39% over 25 years
Payment Frequency Comparison
How different payment schedules affect your mortgage at 4.39%
| Frequency | Payment | Total Interest | Total Cost | Interest Saved |
|---|---|---|---|---|
| Monthly | $4,875.92 | $571,992.60 | $1,462,776.60 | -- |
| Bi-Weekly | $2,250.43 | $571,992.60 | $1,462,776.60 | $0.00 |
| Accelerated Bi-Weekly | $2,437.96 | $693,890.65 | $1,584,674.65 | -$121,898.05 |
Fixed vs. Variable Rate
Monthly payment comparison for $960,000.00 home with 10% down
| Rate Type | Rate | Monthly Payment | Total Interest (25 yr) | Difference |
|---|---|---|---|---|
| 5-Year Fixed | 4.39% | $4,875.92 | $571,992.60 | -- |
| 5-Year Variable | 4.05% | $4,709.88 | $522,179.98 | $166.04/mo less |
Property Costs in British Columbia
Excludes utilities, home insurance, and maintenance. Property tax based on 0.35% average rate.
Mortgage Payments Across Canada
Average home with 10% down, 25-year amortization at best available fixed rate
| Province | Avg. Home Price | Rate | Down (10%) | Monthly Payment |
|---|---|---|---|---|
| Newfoundland and Labrador (NL) | $280,000.00 | 4.39% | $28,000.00 | $1,422.14 |
| New Brunswick (NB) | $310,000.00 | 4.29% | $31,000.00 | $1,558.65 |
| Saskatchewan (SK) | $315,000.00 | 4.29% | $31,500.00 | $1,583.79 |
| Manitoba (MB) | $355,000.00 | 4.29% | $35,500.00 | $1,784.91 |
| Prince Edward Island (PE) | $370,000.00 | 4.39% | $37,000.00 | $1,879.26 |
| Northwest Territories (NT) | $380,000.00 | 4.49% | $38,000.00 | $1,949.60 |
| Nova Scotia (NS) | $420,000.00 | 4.29% | $42,000.00 | $2,111.72 |
| Nunavut (NU) | $420,000.00 | 4.59% | $42,000.00 | $2,176.53 |
| Alberta (AB) | $470,000.00 | 4.29% | $47,000.00 | $2,363.12 |
| Quebec (QC) | $510,000.00 | 4.29% | $51,000.00 | $2,564.23 |
| Yukon (YT) | $530,000.00 | 4.49% | $53,000.00 | $2,719.17 |
| Ontario (ON) | $880,000.00 | 4.29% | $88,000.00 | $4,424.56 |
| British Columbia (BC) | $960,000.00 | 4.39% | $96,000.00 | $4,875.92 |
Housing Market in British Columbia
British Columbia has one of the most expensive housing markets in Canada, driven primarily by Metro Vancouver where detached home prices regularly exceed $1.5 million. The province charges a Property Transfer Tax (PTT) that adds significantly to closing costs, along with additional taxes on foreign buyers and properties in certain price ranges. Despite high prices, demand remains persistent due to limited land supply and ongoing immigration.
The BC Property Transfer Tax is calculated on a tiered basis: 1% on the first $200,000, 2% on the portion from $200,001 to $2,000,000, 3% on the portion from $2,000,001 to $3,000,000, and 5% on amounts above $3,000,000. First-time homebuyers purchasing properties up to $835,000 may qualify for a full or partial PTT exemption. An additional 2% Foreign Buyer Tax applies in designated areas. Property tax rates in BC are among the lowest in Canada due to high assessed values, typically ranging from 0.25% to 0.50%.
The BC housing market in 2026 continues to be shaped by affordability challenges and government interventions. The provincial speculation and vacancy tax, the foreign buyer ban, and municipal empty homes taxes all influence market dynamics. For mortgage shoppers, the stress test remains a significant hurdle given high home prices. Buyers in the Fraser Valley and smaller cities like Kelowna and Kamloops find comparatively better value, though prices have risen considerably in these areas too.