Chartered bank rate on outstanding non-residential mortgages

Non-residential mortgagesMonthly

Series id

cre-mortgage-rate-outstanding

Latest value

4.68%

As of July 1, 2026History since July 1, 2016

Source: Bank of Canada.

Maintained by Sphera Credit

History

Source: Bank of Canada.

How this series is built

Definition

The interest rate, in percent, on chartered banks' outstanding balances of non-residential mortgage loans to businesses. Outstanding balances "are reported as month-end accounting book values, gross of allowances for expected credit losses".

Source

Bank of Canada, Valet series V122667825 ("Non-residential mortgages"), also published as Statistics Canada table 10-10-0006-01, vector v122667825 ("Outstanding balances, business loans, non-residential mortgages; Interest rate").

Calculation

Published as is by the source. Sphera Credit does not transform the values. Statistics Canada notes that the interest rates "are calculated by a volume-weighted average, cross-sectioned on reporting institutions for a given month".

Publication and dating

Monthly. Each value is dated the first day of the month it describes.

Caveats

  • It covers the whole outstanding book at month-end, including loans priced in earlier years, so it is not a rate on current lending.
  • Lending booked in Canada, in Canadian dollars only, by chartered banks to the business (corporate) sector. Credit unions, insurers and other lenders are not included. Since January 2019, "Total business loans exclude non-residential mortgages to the personal sector."

Use this data

Use with your AI assistant

Connect Sphera Credit Data to your assistant once. It can then chart and analyze these series, and every value it quotes carries its source and date. The catalogue is open. Pulling a history asks you to sign in with your work email, and access is free.

Copy the prompt below and paste it into your AI assistant. The assistant adds the Sphera Credit Data connector for you, or walks you through the steps when it cannot.

Prompt for your AI assistant

Add the Sphera Credit Data MCP server to this assistant, so you can answer my questions with Canadian rate data from the Bank of Canada.

Server name: Sphera Credit Data
Server URL: https://data.spheracredit.com/mcp
Type: remote MCP server over HTTP with OAuth sign-in. It needs no API key.

More information about the tools, the data series and Sphera Credit is on this page:
https://www.spheracredit.com/en/resources/data/mcp
Browse it first, so you understand what Sphera Credit is and how this server helps me. If you cannot browse the web, continue without it.

I came from the page of the series Chartered bank rate on outstanding non-residential mortgages (series id: cre-mortgage-rate-outstanding). Once you are connected, start with this series.

Then follow these steps:
1. If you can add MCP servers yourself, add this one now. Tell me what you change.
   - Claude Code: claude mcp add --transport http sphera-data https://data.spheracredit.com/mcp
   - Codex: codex mcp add sphera-data --url https://data.spheracredit.com/mcp
   - Any other tool: use your own way to add a remote HTTP MCP server with the URL above.
2. If you cannot add it yourself, tell me how to add it in this app, one numbered step at a time, with the exact URL above. If you are not sure of the steps for this app, use the steps on the page above. Do not guess a different URL.
3. The first time you pull a rate history, a sign-in page opens. I sign in myself on that page. Do not enter my details or the emailed code for me.
4. When it is connected, call list_series to check that it works. Then tell me in two or three sentences what you can now do for me. Always give the source and the date of each value you quote.

Then ask: “Chart cre-mortgage-rate-outstanding since 2024 and explain how it is calculated.”

MCP server documentation

Download or connect in Excel

Each series is a CSV file with a date column and a value column. In Excel, choose Data, then From Web, and paste the link. Refresh updates it to the latest values.

For information only. These are market reference rates. Each lender sets its own loan rates.