Let’s be real — every Canadian wants the lowest possible mortgage rate. But how do you actually get it? It’s more than just calling your bank.

1️⃣ Shop Around:
Don’t settle for your primary bank’s first offer. Mortgage brokers can often find better deals through multiple lenders. According to Ratehub.ca, Canadians who use brokers save an average of 0.2% on rates.

2️⃣ Timing is Key:
Mortgage rates follow economic trends. When the Bank of Canada cuts interest rates, mortgage rates often follow suit. Keep an eye on rate announcements — they happen eight times a year.

3️⃣ Improve Your Credit:
Lenders love low-risk borrowers. A credit score over 680 opens the door to better rates. Paying off debts and keeping credit card balances low can make a big difference.

Expert Insight:
“Even a 0.5% rate difference can save you thousands over the life of your mortgage,” notes Rob McLister, mortgage expert and founder of MortgageLogic.news.