Understanding Quebec's Mortgage Rates Amidst Global Geopolitical Tensions

17 Apr 2026

As of April 2026, Quebec's mortgage landscape offers competitive rates, with 5-year fixed mortgages at approximately 3.69% and variable rates around 3.35%. These rates are influenced by the Bank of Canada's policy rate, currently at 2.25%, and the prime rate at 4.45%. ([courticonnect.ca](https://courticonnect.ca/en/blog/mortgage-rates-april-2026?utm_source=openai))

Impact of the Iran Conflict on Global Financial Markets

The ongoing conflict in Iran has introduced significant volatility into global financial markets. The International Monetary Fund (IMF) has downgraded its global economic growth forecast for 2026 to 3.1%, down from 3.4% in 2025, citing disruptions caused by the conflict. ([axios.com](https://www.axios.com/2026/04/14/imf-iran-inflation-economy?utm_source=openai))

One of the most immediate effects has been a surge in oil prices. Brent crude oil prices have risen above $100 per barrel, peaking near $119, leading to higher gasoline prices and contributing to increased inflationary pressures worldwide. ([apnews.com](https://apnews.com/article/72cc1c65d842ded41d20f3be48a2acd3?utm_source=openai))

Potential Impact on Quebec's Mortgage Rates

While Quebec's mortgage rates are currently stable, the global economic disruptions stemming from the Iran conflict could influence future rate movements. The Bank of Canada monitors global economic conditions, including oil price fluctuations and inflation trends, when making policy decisions. A sustained increase in global oil prices and inflation could prompt the Bank to adjust its policy rate, which in turn would affect mortgage rates in Quebec. ([investing.com](https://www.investing.com/analysis/iran-war-impact-on-the-global-economy-and-financial-markets-200675969?utm_source=openai))

Reassurance for Homebuyers and Homeowners

Despite the global economic uncertainties, Quebec's mortgage market remains resilient. The current rates offer favorable conditions for both new homebuyers and those considering refinancing. It's important to stay informed about global events and their potential impacts on the economy, but also to recognize that local factors and the Bank of Canada's policies play a significant role in shaping mortgage rates.

Sources

The information in this article is for general purposes only and may not reflect current laws or regulations. Verify any details with a qualified professional before making decisions. Some portions may have been created with AI assistance and should be confirmed for accuracy.

Written by Maly Charbonneau

Mortgage broker