Business
The Best Banks and Credit Unions for Mortgages in Canada
Choosing a mortgage lender in Canada is not just about chasing the lowest rate. Just as importantly, it’s about picking terms you can live with, penalties you can understand, and service you can count on when life changes.
Because a mortgage is usually the biggest debt you’ll ever take on, the “best” lender is the one that aligns with your plan — whether that’s flexibility, certainty, speed, or hands-on advice.
Fortunately, Canada gives borrowers a wide, well-regulated menu of choices. Beyond the big banks, you can work with credit unions, online banks, and specialised mortgage lenders. Each comes with different strengths, and once you know what to look for, comparing them becomes far more straightforward. The Financial Consumer Agency of Canada (FCAC) recommends focusing on core building blocks like term length, amortisation, payment frequency, and fixed versus variable interest options when you shop.
In that spirit, if you’re weighing community-based lending against national brands, it helps to remember why credit unions remain a serious contender. For many borrowers, finding the perfect mortgage with Innovation Credit Union can be a useful reference point for the kind of local decision-making and member-focused support credit unions are known for.
Start with What “Best” Means for Your Mortgage
Before comparing lender names, lock in your own priorities. This prevents you from being dazzled by a promotional rate that comes with terms you won’t like later. FCAC’s guidance on choosing a mortgage highlights features that shape both cost and risk over the life of a term, especially the difference between fixed and variable structures and how payment mechanics can work.
A Practical Checklist to Compare Lenders Fairly
Use the same checklist for every bank and credit union you consider:
- Type of rate: Fixed vs variable (and whether payments can change, or the amortisation can extend).
- Term flexibility: Options to shorten, extend, or convert your term.
- Prepayment privileges: The ability to make lump-sum payments or increase regular payments.
- Penalties: How the lender calculates fees if you break the mortgage early.
- Portability and assumability: Can you take the mortgage to a new home or transfer it to a buyer?
- Service model: Branch-based advice vs online-first convenience.
- Approval and underwriting style: Speed, document requirements, and how exceptions are handled.
Once you know which of these matters most, “best” becomes easier to define — and easier to shop for.
Canada’s Big Banks: Broad Options and National Reach
Most Canadians start with the major banks, partly because they’re everywhere and partly because they offer full-service banking under one roof. The largest national players are commonly referred to as the “Big Six”: RBC, TD, Scotiabank, BMO, CIBC, and National Bank.
Why Borrowers Choose Big Banks
Big banks can be a strong fit when you want:
- A wide range of mortgage products (including specialty programs in some cases)
- Bundled services (chequing, savings, credit cards, investments)
- Branch access if you prefer in-person meetings
- Long-term continuity across multiple financial needs.
That said, big banks can vary significantly in how flexible they are on exceptions, renewals, and retention offers — so it pays to compare, even if you’re staying “within the Big Six.”
A Note on Negotiating
Even within the same bank, offers can differ based on channel (branch vs mobile specialist) and relationship. So, when you compare, ask for the full picture: rate, features, and penalty structure — not one in isolation.
Credit Unions: Relationship-based Lending with Local Strengths
Credit unions are member-owned and typically serve specific provinces or regions, which often leads to a different service experience than a national bank. While the product line-up varies by institution, many credit unions compete strongly on flexibility and borrower support, especially for people who prefer a relationship model rather than a transactional one.
You’ll find large, well-known credit unions across provinces (for example, institutions like Innovation, Vancity, Meridian, Coast Capital, Servus, and others are frequently cited in roundups of major Canadian credit unions).
Why a Credit Union Mortgage Can Be a Smart Choice
Credit unions often stand out for:
- Local decision-making (which can matter for nuanced applications)
- Community presence and a more personal service model
- Member-centric approach to support and guidance
- Competitive mortgage offerings that can rival banks, depending on the province and borrower profile
Because credit unions can be provincial, your “best” option may depend on where you live and whether membership eligibility applies.
Online Banks and Monoline Lenders: Streamlined and Often Competitive
Beyond banks and credit unions, many Canadians get mortgages from online-focused brands and “monoline” lenders (lenders that specialise in mortgages rather than everyday banking). These lenders are commonly accessed through mortgage brokers, although some also lend directly.
When These Lenders Can Be a Great Fit
They’re often appealing if you want:
- A simpler, digital-first application process
- Strong focus on mortgage features rather than cross-selling other products
- Clear prepayment and renewal options (depending on the lender).
However, as with any lender, the details matter. Two mortgages can share a similar headline rate but differ drastically in penalties, portability, and prepayment rules, so always compare the contract terms.
A Short, Practical “Best-of” List by Borrower Priority
Instead of naming one universal winner, here are reliable paths depending on what you value most:
If You Want Convenience and National Coverage
- Consider Big Six banks, especially if you prefer branches and bundled banking.
If You Want a Relationship-first Experience
- Consider credit unions, particularly if you want local advice and a community-based model.
If You Want Streamlined Digital Shopping
- Consider online banks and monoline lenders, often compared through brokers or digital mortgage platforms.
If You Want Independent, Consumer-focused Guidance While Shopping
- Use FCAC’s tools and learning resources to stay grounded in the fundamentals as you compare offers.
Final Take: “Best” Is the Lender Whose Terms Match Your Plan
In Canada, you have strong options across banks and credit unions, and the right choice depends on the mortgage features you’ll actually use and the risks you’re willing to carry. Start by clarifying your priorities, then compare lenders using the same checklist every time. From there, the decision tends to become clearer: the best lender isn’t the loudest or the biggest — it is the one whose mortgage contract fits your life.
Bluesky is the latest social media platform to introduce its very own AI chatbot, with Attie being formally introduced to the world as the technology is set to deliver custom feeds to users with simple prompts.
Attie can understand natural language and help users create a feed that they want without the hassle of learning how to code.
Bluesky Introduces New Agentic AI Social App, Attie
Bluesky’s former CEO and now Chief Innovation Officer, Jay Graber, recently shared a new development from the company called “Attie,” the company’s latest take on a generative artificial intelligence platform, but it is not exactly a chatbot.
Instead of talking to Attie to learn about various topics, create write-ups, and more, the new agentic AI will help users create their own feeds on Bluesky.
The new agentic AI was built using Anthropic’s Claude chatbot, and the app was built on the same underlying protocol that Bluesky is using, the open-source framework AT Protocol.
According to Graber, users need not be intimidated to create their custom feeds on Bluesky with the help of Attie as the experience will only feel like users are “having a conversation rather than configuring software.”
Attie: Create Custom Feeds Using Natural Language
As mentioned earlier, users may create custom feeds using Attie. The company’s development of this new agentic AI centers on using natural language that will allow users to freely talk to the chatbot like in a normal setting with friends, but it can get complex work done, like coding, to create a feed based on their preferences.
It has been almost three years since Bluesky first arrived in the tech industry, with the platform then popularizing the use of custom algorithmic feeds on the social media experience.
Users only need to describe the content they want to see on their feed to Attie to get started. For example, they only need to tell the agentic AI to “build a feed that gives me updates on new and upcoming console game releases from accounts that I follow.”
The agentic AI will act as a coding agent to create the feed without users actually writing code.
Originally published on Tech Times
Premier Roger Cook has welcomed the federal government’s decision to half fuel excise, saving motorists about 26 cents a litre in petrol and diesel at the bowser.
Dollar holds firm as markets brace for drawn-out Middle East war
Prime Minister Anthony Albanese has announced that fuel excise will be cut in half for petrol and diesel beginning April 1.
This will be in effect for three months and will reduce cost of fuel by 26.3 cents a litre.
Fuel Excise Halved for Three Months
According to a report by ABC News, the announcement was made after a meeting of the national cabinet with state and territory leaders. During this meeting, a four-point action plan to deal with the fuel crisis was also discussed.
Albanese also went on to claim that Australia is on “level two” of the fuel crisis. The goal, according to the prime minister, is to “keep Australia moving.”
He likewise said that the country is still far from reaching the next level, which will require “taking targeted action.”
There is still a level four, which will entail “protecting critical services.”
Albanese has also called for citizens to only take the fuel they need as to not cause even bigger supply problems.
NSW Premier Reacts to National Fuel Plan
According to 9News, New South Wales Premier Chris Minns said that he welcomes the action plan. He likewise commented on how long he thinks the ongoing conflict in the Middle East will continue.
“We are not necessarily sure what will happen in the Middle East in the next three or six months,” Minns said. “We are not making a decision today to tell people to cancel their trips around the state or cancel Easter holidays.
“But as time goes on, we may tell people to use their common sense on this and reduce their usage,” he added.
Check out what’s clicking on FoxBusiness.com.
Thousands of ready-to-eat pizza and bread products were recalled over the potential presence of metal fragments, according to the Food and Drug Administration.
North Carolina-based Bakkavor voluntarily initiated the recall on Jan. 19, according to the FDA.
Last week, the health agency classified the alert as a Class II recall, which means “use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote.”
NEARLY 10M POUNDS OF FROZEN FRIED RICE SOLD AT TRADER JOE’S ADDED TO RECALL: USDA
Thousands of ready-to-eat pizza and bread products were recalled over the potential presence of metal fragments. (Stefan Irvine/LightRocket via Getty Images / Getty Images)
About 23,459 cases of roasted tomato and Parmesan focaccia bread were recalled, sold under brand names such as Frederik’s by Meijer, Harris Teeter, Trader Joe’s and Fresh & Simple.
Additionally, 2,337 cases of HelloFresh Basil Pesto and Mozzarella Pizza, made up of 15 packages per case, were also recalled.
The recall affects four pizza lot numbers and more than a dozen focaccia bread lot numbers, with use-by dates ranging from April 27 through Oct. 15.
Brands affected by the recall include HelloFresh, Frederik’s by Meijer, Fresh & Simple, Harris Teeter and Trader Joe’s. (Plexi Images/GHI/UCG/Universal Images Group via Getty Images / Getty Images)
The affected items were distributed in 10 states — Arizona, California, Connecticut, Florida, Illinois, Michigan, North Carolina, New Jersey, Texas and Virginia.
The food products were also shipped directly to customers through HelloFresh.
90,000 BOTTLES OF CHILDREN’S IBUPROFEN RECALLED NATIONWIDE, FDA SAYS
The FDA classified the alert as a Class II recall. (iStock / iStock)
CLICK HERE TO GET FOX BUSINESS ON THE GO
Customers are urged to dispose of the product or return them to the place of purchase for a refund.
No injuries have been reported in connection with the recall thus far.
US stock futures fall as Iran fears persist, Trump comments offer mild relief
Check out what’s clicking on FoxBusiness.com.
Costco is set to debut its first stand-alone gas station this summer in Mission Viejo, California, marking a major expansion of its fuel operations, with a second location in Hawaii slated to open next year.
The California location, located roughly 50 miles from Los Angeles, is expected to open in late June, according to local outlet KABC, citing city officials. It will become the chain’s largest gas station, featuring 40 pumps.
A second location is in the works for Honolulu, Hawaii, in the Kapālama Kai community, according to C-store Dive, citing a spokesperson from private education system Kamehameha Schools, which owns the project.
The move marks a major step for the discount retail giant, whose gas stations at existing warehouse locations have long been plagued by lengthy wait times, heavy traffic and crowded parking lots.
COSTCO SAYS YOUR NEXT CHECKOUT COULD TAKE UNDER 10 SECONDS THANKS TO NEW AUTOMATED PAY STATIONS
Vehicles in line at a Costco gas station in Vallejo, California, US, on Thursday, May 29, 2025. (David Paul Morris/Bloomberg / Getty Images)
Costco’s Mission Viejo site at 25732 El Paseo will sit on the former location of a Bed Bath & Beyond, which city officials approved for demolition last year to make way for the project. It will neighbor a Krispy Kreme location, a Dairy Queen Chill & Grill and a Jack in the Box.
The project will feature 20 fueling dispensers, equivalent to 40 pumping stations, according to 2025 city planning documents.
Spanning 17,234 square feet, the “fueling canopy” will also house an accessory office and breakroom building for employees, the documents stated.
The new gas station will be open daily from 5 a.m. to 10 p.m. exclusively for Costco members, C-store Dive reported.
COSTCO ENTERS FERTILITY CARE WITH MASSIVE DISCOUNTS FOR MEMBERS THROUGH NEW HEALTHCARE PARTNERSHIPS
A customer pumps gas on Wednesday, Dec. 3, 2025, in Schenectady, N.Y. (Lori Van Buren/Albany Times Union via Getty Images / Getty Images)
According to GasBuddy, gas prices in the Mission Viejo area currently range from $5.69 to $6.35 per gallon.
The two closest existing Costco gas stations — at the Laguna Niguel and Laguna Marketplace warehouses, roughly 2.5 to 3 miles from the planned Mission Viejo site — both list gas at $5.69 per gallon, according to the Costco app.
Drivers refuel vehicles at a Costco Wholesale Corp. gas station in Brookhaven, Georgia. (Elijah Nouvelage/Bloomberg via Getty Images / Getty Images)
For the Hawaii location, demolition and preparation of the property began in October 2025 and are ongoing, according to the project’s website.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 983.86 | +4.21 | +0.43% |
CLICK HERE TO READ MORE ON FOX BUSINESS
Gas prices in Honolulu range from $5.14 to $5.59 per gallon, according to GasBuddy. The closest Costco in Iwilei, about 2.2 miles from the planned Kapālama Kai site, lists gas at $4.14 per gallon, according to the Costco app.
Trump says White House ballroom is ahead of schedule
Trump says intel chief Tulsi Gabbard ’softer’ than him on Iran nuclear issue
Brent crude futures jumped $3.09, or 2.74%, to $115.66 a barrel by 2353 GMT after settling 4.2% higher on Friday.
U.S. West Texas Intermediate was at $102.56 a barrel, up $2.92, or 2.93%, following a 5.5% gain in the previous session.
Brent has soared 59% this month, the steepest monthly jump, exceeding gains seen during the 1990 Gulf War, after the Iran conflict effectively closed the Strait of Hormuz, a conduit for a fifth of the world’s oil and gas supplies.
The war, launched on February 28 with U.S. and Israeli strikes on Iran, has spread across the Middle East, with Yemen’s Iran-aligned Houthis on Saturday launching their first attacks on Israel since the start of the conflict, raising concern about shipping lanes around the Arabian Peninsula and the Red Sea.
“The conflict is no longer concentrated in the Persian Gulf and around the Strait of Hormuz, but now extends into the Red Sea and the Bab el-Mandeb – one of the world’s most crucial chokepoints for crude and refined product flows,” JP Morgan analysts led by Natasha Kaneva said in a note.
Saudi crude exports re-directed from the Strait of Hormuz to the Yanbu port in the Red Sea reached 4.658 million barrels per day last week, data from analytics firm Kpler showed. If exports from Yanbu were disrupted, Saudi oil would need to pivot toward Egypt’s Suez-Mediterranean (SUMED) pipeline to the Mediterranean, JP Morgan analysts said.
Attacks in the region escalated over the weekend and damaged Oman’s Salalah terminal despite efforts to start ceasefire talks.
Iran said it was ready to respond to a U.S. ground attack, accusing Washington on Sunday of preparing a land assault even as it sought negotiations.
Pakistan’s Foreign Minister Ishaq Dar said they had covered possible ways to bring an early and permanent end to the war in the region as well as potential U.S.-Iran talks in Islamabad.
Olivia Munn Opens Up About Breast Cancer Journey After Silent Diagnosis
Real day you’re supposed to eat your Easter eggs as many Brits tuck in too early
Bluesky Introduces Agentic AI ‘Attie’ That Delivers Custom Feeds Based on Preferences
Smart energy pays enters the US market, targeting scalable financial infrastructure
Why Israel is blocking foreign journalists from entering
Bitcoin: We’re Entering The Most Dangerous Phase
“This time it’s yo’ money”: Trump’s signature to be added to U.S. paper currency
How and WHAT to invest in! #investing #stockmarket #money #finance #recession #inflation #wallstreet
This Machine Turns Paper into Money! #moneytips #gadgetsshorts #artshorts
-
NewsBeat5 days agoManchester United reach agreement with Casemiro over contract clause amid transfer speculation
-
News Videos4 days agoParliament publishes latest register of MPs’ financial interests
-
Sports7 days agoGary Kirsten Accuses Pakistan Cricket Board Of ‘Interference’, Mohsin Naqvi Responds
-
Sports7 days agoRemo Stars and Kano Pillars Strengthen Survival Hopes in NPFL
-
NewsBeat2 days agoThe Story hosts event on Durham’s historic registers
-
News Videos7 days agoCh 9 Financial Management Part 1 | Detailed One Shot | Class 12 Business Studies Boards 2026
-
Business3 days agoInstagram, YouTube Found Responsible for Teen’s Mental Health Struggle in Historic Ruling
-
NewsBeat5 days agoTesco is selling new Cadbury Dairy Milk bar and people can’t wait to try it
-
Entertainment7 days agoCynthia Bailey Dishes on ‘RHOA’ Season 17, Discusses Kandi
-
Tech6 days agoSamsung will soon let you control smart home devices from your car’s dashboard
-
Entertainment1 day agoLana Del Rey Celebrates Her Husband’s 51st Birthday In New Post
-
Business6 days agoMore women enter wealth management, but few in advisory roles: study
-
NewsBeat7 days agoColombian military plane with 110 soldiers onboard crashes following takeoff
-
Fashion5 days agoDoes It Matter What You Wear When You’re Laid Off and Looking?
-
Fashion7 days agoFringe Bags for the Season
-
Business6 days agoLate-paying firms face multimillion-pound fines under new crackdown
-
NewsBeat5 days agoEntrepreneurs Forum survey reveals optimism in North East
-
Politics6 days agoHow Media Platforms Balance Performance and Accessibility in Image Delivery
-
Sports5 days agoFantasy Baseball Week 1 Preview: Top sleeper hitters for both five- and 12-day period led by Munetaka Murakami
-
NewsBeat6 days agoNASA Artemis II Astronauts enter 14-Day quarantine as moon rocket reaches launchpad
You must be logged in to post a comment Login