7.54% (posted)
Headline 5-year · $1,795–$2,995 setup
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CHIP Reverse Mortgage
7.54% (posted)
-
CHIP Max
8.54% (posted)
-
CHIP Open
Contact for rate
-
Income Advantage
7.54% (posted)
Reverse Mortgage Rates Canada — October 2026
Published rates from four reverse mortgage lenders plus Fraction, as of October 2026. Then use the reverse mortgage calculator Canada (no personal info).
Reverse mortgage rates in Canada in 2026 typically range from about 6.23% (Equitable Flex Lite and Home Trust EquityAccess) to 8.54% on CHIP Max; CHIP’s posted 5-year fixed rate is 7.54%. Rates are higher than conventional mortgages because lenders receive no monthly payments and carry compounding and no-negative-equity risk. Next: run the reverse mortgage calculator Canada tool (no personal info).
6.28%
Headline 5-year · $995 setup
-
Flex
6.28%
-
Flex PLUS
7.43%
-
Flex Lite
6.23%
6.33%
Headline 5-year · ~$2,300 (processing + appraisal + ILA certificate) setup
-
Bloom Reverse Mortgage
6.33%
-
Bloom SafeRate™
6.69% (lifetime)
-
Bloom Prepaid Mastercard
Contact for rate
6.23%
Headline 5-year · $995 setup
-
EquityAccess
6.23%
-
EquityAccess+
6.29%
-
EquityAccess Boost
7.44%
from 5.10%
Headline 5-year · 1% (Interest Only / Jumbo) or 2% (No Payment) setup
-
Fraction Interest Only
from 5.10%
-
Fraction Jumbo
from 5.60%
-
Fraction No Payment
from 5.75%
Published 5-year figures are planning snapshots, not live quotes. Actual rate depends on province, LTV, age, and product. Sample rates — book a call for a real quote.
Monthly reverse mortgage rate update
One email when the published snapshot changes. No consult.
Snapshot log
These are sample rates as of the snapshot date, not live quotes. Older rows are publication dates only. Percentages from those snapshots are not repeated here.
| Date | Snapshot |
|---|---|
| October 1, 2026 | Published 5-year snapshot for CHIP, Equitable, Bloom, Home Trust, and Fraction. Sample rates, not a quote. |
| August 1, 2026 | Earlier published snapshot. Sample rates, not a quote. |
| July 5, 2026 | Earlier published snapshot. Sample rates, not a quote. |
| May 21, 2026 | Earlier published snapshot. Sample rates, not a quote. |
| April 5, 2026 | Earlier published snapshot. Sample rates, not a quote. |
| March 23, 2026 | Earlier published snapshot. Sample rates, not a quote. |
CHIP vs Equitable vs Bloom
Urban borrowers in Ontario, BC, Alberta, and Quebec often compare CHIP and Equitable Bank first. Bloom's SafeRate™ locks a lifetime fixed rate (currently ~6.69%) — unique in Canada. See CHIP vs Equitable for product differences.
Published rates are starting points. Use the estimator and cost estimator, then closing costs.
Why rates run higher, and how to get the best one
Reverse mortgage rates sit above conventional mortgage rates for concrete reasons. The lender receives no monthly payments, so it funds the loan today and waits years for repayment. Interest that is not paid compounds, so the balance can grow faster than the home's value in a flat market. The no-negative-equity guarantee, which means you or your estate never owe more than the home's fair market value, has a cost that is built into the rate. And the Canadian market is small, with fewer lenders competing.
Canadian reverse mortgages compound interest semi-annually, so interest is added to the balance twice a year. The balance grows faster in later years because the compounding base is larger. The amortization calculator shows the year-by-year growth for any amount and rate, and the how it works guide explains the mechanics.
To get the best rate, compare lenders rather than products from one lender. Some lenders price a smaller loan-to-value more favourably, and Equitable Bank and Home Trust are only available through a broker. Weigh total cost as well: setup fees, appraisal costs and prepayment flexibility can outweigh a small rate difference. The cost estimator adds these up by lender.
Frequently Asked Questions
What are reverse mortgage rates in Canada in 2026?
As of October 2026, published five-year fixed reverse mortgage rates in Canada range from approximately 6.23% (Equitable Bank Flex Lite and Home Trust EquityAccess) to 8.54% (CHIP Max). CHIP's posted 5-year fixed rate is 7.54%. Equitable Bank also posted a limited-time 4.99% 1-year fixed on new Flex and Flex Lite applications through October 16, 2026.
Which Canadian reverse mortgage lender has the lowest rate?
Equitable Bank Flex Lite and Home Trust EquityAccess both publish 5-year fixed rates near 6.23%, but they are broker-exclusive and limited to urban ON, BC, AB, and QC (Home Trust also serves NS). Actual rates depend on home value, LTV, and underwriting.
What are CHIP reverse mortgage rates?
HomeEquity Bank's posted 5-year fixed rate for the standard CHIP Reverse Mortgage is 7.54%. CHIP Max posts 8.54% for the same term, and CHIP Open is variable only. HomeEquity Bank can offer lower specials on new files through brokers — see the full CHIP lender guide for product-level detail.
Do reverse mortgage rates change every month?
Lenders adjust reverse mortgage rates periodically based on funding costs and market conditions. This page is refreshed when lender rate sheets change — check the 'rates last updated' date above and compare using the loan estimator before applying.
What is the current interest rate for reverse mortgages in Canada?
As of October 2026, published five-year fixed reverse mortgage rates generally fall between about 6.23% and 8.54% depending on lender and product. Equitable Bank Flex Lite and Home Trust EquityAccess tie for the lowest published entry rate at 6.23%; CHIP's posted 5-year rate is 7.54%. Always confirm the rate on your formal offer letter.
Are reverse mortgage rates higher than regular mortgage rates in Canada?
Yes. Reverse mortgage rates are typically higher than conventional 5-year fixed mortgages because there are no required monthly payments, interest may compound, and lenders provide a no-negative-equity guarantee. Compare total cost — not rate alone — using the cost estimator and equity projection tools.
Want your actual rate?
Published rates are starting points. Book a free call to compare actual offers from four reverse mortgage lenders plus Fraction for your home and province.