Best mortgage rates in Quebec 2026. Montreal average $580K, up 3.8%. Desjardins vs national banks. CELIAPP and provincial tax credits for first-time buyers.
Quebec remains one of Canada's most affordable major markets, with Montreal averaging $580K compared to Toronto's $1.1M. The province has unique civil law property rules and Desjardins dominates the local mortgage landscape with over 40% market share.
| Term | Best Rate |
|---|---|
| Variable | 3.30–3.50% |
| 3-Year Fixed | 4.65–4.80% |
| 5-Year Fixed | 4.82–4.95% |
Quebec uses civil law (not common law like other provinces), which affects how mortgages are registered. Quebec uses a "hypothec" instead of a mortgage — functionally similar but with different legal documentation. Work with a Quebec notary (not a lawyer) for your closing.
Quebec has both municipal and provincial welcome taxes (taxe de bienvenue). On a $580K Montreal property: 0.5% on first $53,200 + 1% on $53,200–$266,200 + 1.5% on remainder = approximately $7,800 total.
Desjardins is the dominant mortgage lender in Quebec. As a cooperative, it often returns profits to members as dividends. National Bank of Canada is also Quebec-based and competitive. For best rates, compare both against a mortgage broker who has access to online lenders.