Quebec Mortgage Payments
Mortgage rates, average home prices, and payment calculations for Quebec (QC). Updated for 2026.
Monthly Payment
$2,564.23
at 4.29% fixed
Avg. Home Price
$510,000.00
Best Fixed Rate
4.29%
Best Variable Rate
3.95%
Current Mortgage Rates in Quebec
| Rate Type | Posted Rate | Best Available | Discount |
|---|---|---|---|
| 5-Year Fixed | 6.49% | 4.29% | -2.20% |
| 5-Year Variable | 5.45% | 3.95% | -1.50% |
Rates are approximate and updated periodically. Always confirm with your lender.
Mortgage on the Average Quebec Home
$510,000.00 home with 10% down ($51,000.00) at 4.29% over 25 years
Payment Frequency Comparison
How different payment schedules affect your mortgage at 4.29%
| Frequency | Payment | Total Interest | Total Cost | Interest Saved |
|---|---|---|---|---|
| Monthly | $2,564.23 | $296,040.71 | $769,269.71 | -- |
| Bi-Weekly | $1,183.49 | $296,040.71 | $769,269.71 | -$0.00 |
| Accelerated Bi-Weekly | $1,282.12 | $360,146.52 | $833,375.52 | -$64,105.81 |
Fixed vs. Variable Rate
Monthly payment comparison for $510,000.00 home with 10% down
| Rate Type | Rate | Monthly Payment | Total Interest (25 yr) | Difference |
|---|---|---|---|---|
| 5-Year Fixed | 4.29% | $2,564.23 | $296,040.71 | -- |
| 5-Year Variable | 3.95% | $2,476.47 | $269,711.96 | $87.76/mo less |
Property Costs in Quebec
Excludes utilities, home insurance, and maintenance. Property tax based on 0.87% 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 Quebec
Quebec's housing market offers significantly better affordability than Ontario or BC, with Montreal serving as the primary market. The province charges a Welcome Tax (droits de mutation immobiliere) on property purchases, calculated on a tiered basis. Quebec's real estate market benefits from lower average prices and strong rental protections that influence the ownership-versus-renting calculus.
Quebec's Welcome Tax is calculated on graduated tiers: 0.5% on the first $58,900, 1.0% on $58,901 to $294,500, 1.5% on $294,501 to $500,000, 2.0% on $500,001 to $1,000,000, and 2.5% on amounts above $1,000,000. Some municipalities add a supplementary transfer tax for higher-value properties. Property tax rates in Montreal are approximately 0.8% to 1.0%, while suburban areas can range from 0.7% to 1.2%. Quebec uses the Chambre des notaires system rather than lawyers for real estate closings.
Montreal's housing market continues to attract buyers priced out of Toronto, with condos and single-family homes available at a fraction of GTA prices. The city's strong tech, gaming, and aerospace sectors support employment and housing demand. Quebec City offers even more affordable options. The provincial government has implemented measures to address housing supply, and new construction activity in Montreal has been robust. Quebec's unique civil law system and notarial requirements add distinct steps to the closing process.