DibzNational Bank mortgage rates (2026): what to know
How National Bank mortgage rates work: posted vs standard rates, 10% prepayment, its IRD formula, the All-In-One account, porting options and renewal tips.
National Bank mortgage rates have a posted rate and the lower rates most borrowers are actually offered. National Bank of Canada also uses a "standard rate" in its penalty formula, which makes its paperwork read a little differently from other banks'. Your rate depends on the term, your down payment and what you negotiate. See National Bank's current posted rates on its site. Below is how its mortgages work, with Bank of Canada averages for context, not National Bank's prices.
Dibz isn't affiliated with or endorsed by National Bank of Canada. Trademarks belong to their owners. Figures shown are Bank of Canada averages, not offers; talk to a licensed mortgage professional before you decide.
National Bank quick facts
- Prepayment: up to 10% of the initial principal each calendar year, in one or several payments (National Bank guide).
- Extra with each payment: you can add up to one more payment's worth of principal and interest on a payment date.
- Fixed-rate penalty: the higher of three months' interest or the interest differential plus one month's interest (capped at $500).
- Rate guarantee: 120 days on a pre-approval (National Bank).
- Home equity option: the All-In-One account, up to 80% of your home's value with a mortgage loan.
- Notable 2026 change: National Bank is taking over Laurentian Bank's personal banking clients, including mortgages. See our Laurentian Bank guide.
National Bank mortgage products
National Bank's mortgage page lists fixed-rate terms, a 5-year variable priced as prime minus a spread, refinancing, mortgage transfers and mortgages for self-employed borrowers. Its prepayment guide describes terms from 3 months to 120 months, open and closed.
The All-In-One account is a home equity line of credit that can finance up to 65% of your property's value on its own, or up to 80% combined with a traditional mortgage loan. As you repay principal, it becomes available to borrow again. The line is variable, at prime plus a spread, and the account carries a monthly fee.
Prepayments and penalties
National Bank's guide (dated December 2022) sets out three penalty-free ways to pay down a closed mortgage faster:
- Lump sums of up to 10% of the initial principal each calendar year.
- Occasional payment increases: on a payment date, you can add up to the amount of your regular payment. If your payment is $650, you could pay up to $650 more.
- More frequent payments, such as accelerated biweekly or weekly.
The penalty formula is where National Bank's terms stand out. It uses two published rates:
- Posted rate: the fixed rate National Bank published at the start of your term for a loan like yours.
- Standard rate: the rate it currently publishes for a term matching your remaining term. If none exists (say 53 months left), it interpolates between the two nearest terms.
For a closed fixed loan, the charge is the higher of three months' interest or the interest differential (posted rate minus standard rate, over the remaining term) plus one month's interest capped at $500. A variable closed loan is charged three months' interest. Because the calculation starts from the posted rate at signing rather than the discounted rate you pay, the size of your original discount matters.
Porting and moving options
The guide lists options that may help if you sell or refinance mid-term, subject to eligibility and change: a rollover mortgage, which carries your balance, rate and remaining term to a new National Bank mortgage for your next home and reimburses the prepayment charge; buyer referral, where the charge may be waived if National Bank lends your buyer at least the same amount, rate and term; and a double mortgage option for buying a bigger home. These apply to new mortgage financing only, not the All-In-One.
How to apply
Apply for pre-approval online, visit a branch, or book an appointment with a mortgage specialist.
Posted vs discounted rates at National Bank
National Bank's posted rate is a list price, and borrowers are usually offered less. At this bank the posted rate is literally written into the penalty definition. It also matters for the stress test in a roundabout way: new mortgages qualify at the higher of 5.25% or the contract rate plus two points (FCAC), so the rate you negotiate sets the bar.
How National Bank's posted rate compares with the chartered-bank benchmark
The Bank of Canada's posted-rate benchmarks track conventional mortgage rates offered by chartered banks in Canada, which include National Bank. Its own posted rates generally move with them but are set independently, so check its page for current figures. Because National Bank's IRD interpolates between terms, mid-length terms matter. Here's the chartered-bank posted 3-year rate against average new 3-to-5-year fixed rates:
- Chartered banks' posted 3-year fixed
- Average new uninsured fixed, 3 to 5 years
- Average new insured fixed, 3 to 5 years
Posted: chartered banks' conventional 3-year rate, last reading of each month. New: average rates on new fixed mortgages of 3 to under 5 years (funds advanced). Averages across lenders, not National Bank's rates.
Source: Bank of Canada (free at bankofcanada.ca)
Show the numbers
| Chartered banks' posted 3-year fixed | Average new uninsured fixed, 3 to 5 years | Average new insured fixed, 3 to 5 years | |
|---|---|---|---|
| Sep 2024 | 6.54% | 4.71% | 4.60% |
| Oct 2024 | 6.54% | 4.51% | 4.40% |
| Nov 2024 | 6.54% | 4.41% | 4.29% |
| Dec 2024 | 6.54% | 4.40% | 4.27% |
| Jan 2025 | 6.54% | 4.43% | 4.29% |
| Feb 2025 | 6.54% | 4.42% | 4.27% |
| Mar 2025 | 6.54% | 4.31% | 4.18% |
| Apr 2025 | 6.54% | 4.18% | 4.05% |
| May 2025 | 6.05% | 4.13% | 4.00% |
| Jun 2025 | 6.05% | 4.13% | 3.98% |
| Jul 2025 | 6.05% | 4.14% | 3.97% |
| Aug 2025 | 6.05% | 4.13% | 3.97% |
| Sep 2025 | 6.05% | 4.13% | 3.95% |
| Oct 2025 | 6.05% | 4.07% | 3.90% |
| Nov 2025 | 6.05% | 4.04% | 3.87% |
| Dec 2025 | 6.05% | 4.02% | 3.86% |
| Jan 2026 | 6.05% | 4.01% | 3.88% |
| Feb 2026 | 6.05% | 3.99% | 3.89% |
| Mar 2026 | 6.05% | 3.91% | 3.86% |
| Apr 2026 | 6.05% | 3.90% | 3.87% |
| May 2026 | 6.05% | 3.97% | 3.93% |
| Jun 2026 | 6.05% | 4.03% | 3.96% |
| Jul 2026 | 6.05% | 4.08% | 3.99% |
In July 2026 the posted 3-year benchmark sat about two points above what new 3-to-5-year borrowers paid on average.
Negotiating your National Bank renewal
- Pay down before the new term. National Bank's guide says you can repay any amount at maturity, before the next term begins.
- Ask for the posted rate at signing. It's the starting point of any future penalty, so it's useful to have in writing.
- Compare with averages. The Bank of Canada figures on this page show recent borrowing costs across lenders.
- Weigh the term length. National Bank notes that the longer the remaining term when you prepay, the bigger an interest-differential charge can be.
- Mind fee-based options. Its guide says fees may apply from the second change request to payment frequency.
Try our mortgage calculator to test renewal rates and terms.
Related reading
Read 5-year fixed mortgage rates, HELOC rates for accounts like the All-In-One, and the Laurentian Bank and CIBC guides.
FAQ
How much can I prepay on a National Bank mortgage?
Up to 10% of the initial principal each calendar year, in one or several payments, without fees. You can also add up to one regular payment's worth on a payment date.
How does National Bank calculate its prepayment penalty?
For a closed fixed loan, it is the higher of three months' interest or the interest differential plus one month's interest (capped at $500). The differential compares the posted rate at the start of your term with the current standard rate for your remaining term.
What is the National Bank All-In-One account?
A home equity line of credit that can cover up to 65% of your home's value, or up to 80% combined with a mortgage loan. Repaid principal becomes available to borrow again.
What happens to Laurentian Bank mortgages?
Laurentian Bank's personal banking products, including mortgages, are moving to National Bank, with the migration scheduled for November 6 to 8, 2026, according to both banks' websites.
Are the rates on this page National Bank's rates?
No. They are Bank of Canada averages across lenders. For National Bank's current rates, check its mortgage rates page.
Sources
- National Bank: Mortgage prepayment and prepayment charges guide (PDF)
- National Bank: Mortgages
- National Bank: All-In-One account
- National Bank: Mortgage rates
- National Bank: Laurentian Bank migration information hub
- FCAC: Preparing to get a mortgage
- Bank of Canada: posted and new-mortgage rate series (free at bankofcanada.ca)
This article is general information, not financial advice. Rates shown are Bank of Canada averages, not offers. Talk to a licensed mortgage professional before choosing a mortgage.
Dibz is a home search app for the Greater Toronto Area, built on the live TRREB MLS® feed. We write these guides from what we see in the market every day and check every rule and number against official sources, listed at the end of each article. Charts marked "Dibz analysis" are calculated from active MLS® listings on the date shown.
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