{"series":{"id":"cre-mortgage-rate-new","label":"Chartered bank rate on non-residential mortgage funds advanced to businesses","description":"Volume-weighted average interest rate on the non-residential mortgage funds chartered banks advanced to businesses in the month, including renewals and refinancing.","unit":"percent","frequency":"monthly","category":"mortgage","citation":"Source: Bank of Canada (Valet series V122667820)","derived":false,"formula":null,"first_date":"2013-01-01","latest":{"date":"2026-07-01","value":4.93},"csv_url":"https://data.spheracredit.com/api/v1/series/cre-mortgage-rate-new.csv","methodology":{"source":"Bank of Canada, Valet series V122667820 (\"Non-residential mortgages\"), also published as Statistics Canada table 10-10-0006-01, vector v122667820 (\"Funds advanced, business loans, non-residential mortgages; Interest rate\").","definition":"The interest rate, in percent, on the non-residential mortgage funds that chartered banks advanced to businesses during the month. Funds advanced are \"the cumulative total of new credit extended, new draws on existing credit facilities, mortgage or term-loan renewals and refinancing for a given month\".","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\".","timing":"Monthly. Each value covers a calendar month and is dated the first day of that month.","caveats":["It includes renewals and refinancing as well as new loans, across all terms, so it is not the rate on newly originated loans alone.","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.\""],"references":[{"title":"Statistics Canada table 10-10-0006-01: Funds advanced, outstanding balances, and interest rates for new and existing lending, Bank of Canada","url":"https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1010000601"},{"title":"Bank of Canada Valet series V122667820","url":"https://www.bankofcanada.ca/valet/series/V122667820/json"}]}},"observations":[["2013-01-01",3.52],["2013-02-01",3.64],["2013-03-01",3.58],["2013-04-01",3.55],["2013-05-01",3.58],["2013-06-01",3.5],["2013-07-01",3.56],["2013-08-01",3.49],["2013-09-01",3.6],["2013-10-01",3.65],["2013-11-01",3.41],["2013-12-01",3.74],["2014-01-01",3.41],["2014-02-01",3.32],["2014-03-01",3.54],["2014-04-01",3.39],["2014-05-01",3.35],["2014-06-01",3.46],["2014-07-01",3.41],["2014-08-01",3.39],["2014-09-01",3.43],["2014-10-01",3.34],["2014-11-01",3.23],["2014-12-01",3.35],["2015-01-01",3.09],["2015-02-01",3.22],["2015-03-01",3.03],["2015-04-01",2.96],["2015-05-01",3.13],["2015-06-01",3.22],["2015-07-01",3.27],["2015-08-01",3],["2015-09-01",3.06],["2015-10-01",3.23],["2015-11-01",3.19],["2015-12-01",3.08],["2016-01-01",3.15],["2016-02-01",3.12],["2016-03-01",3.19],["2016-04-01",3.18],["2016-05-01",3.11],["2016-06-01",3.15],["2016-07-01",3.38],["2016-08-01",3.32],["2016-09-01",3.35],["2016-10-01",3.21],["2016-11-01",3.19],["2016-12-01",3.29],["2017-01-01",3.29],["2017-02-01",3.3],["2017-03-01",3.23],["2017-04-01",3.29],["2017-05-01",3.32],["2017-06-01",3.28],["2017-07-01",3.56],["2017-08-01",3.71],["2017-09-01",3.72],["2017-10-01",3.68],["2017-11-01",3.78],["2017-12-01",3.83],["2018-01-01",3.83],["2018-02-01",4.05],["2018-03-01",4.15],["2018-04-01",4.16],["2018-05-01",4.01],["2018-06-01",4.16],["2018-07-01",4.22],["2018-08-01",4.37],["2018-09-01",4.45],["2018-10-01",4.56],["2018-11-01",4.47],["2018-12-01",4.49],["2019-01-01",4.18],["2019-02-01",4.15],["2019-03-01",4.37],["2019-04-01",4.17],["2019-05-01",3.89],["2019-06-01",4.16],["2019-07-01",4.09],["2019-08-01",3.99],["2019-09-01",3.84],["2019-10-01",3.72],["2019-11-01",3.99],["2019-12-01",4.08],["2020-01-01",3.74],["2020-02-01",3.79],["2020-03-01",3.29],["2020-04-01",3.03],["2020-05-01",2.94],["2020-06-01",3.09],["2020-07-01",2.97],["2020-08-01",2.94],["2020-09-01",2.91],["2020-10-01",2.92],["2020-11-01",2.7],["2020-12-01",2.84],["2021-01-01",2.68],["2021-02-01",2.73],["2021-03-01",2.82],["2021-04-01",2.91],["2021-05-01",2.88],["2021-06-01",2.92],["2021-07-01",2.9],["2021-08-01",2.9],["2021-09-01",2.92],["2021-10-01",3],["2021-11-01",3.12],["2021-12-01",3.11],["2022-01-01",3.28],["2022-02-01",3.41],["2022-03-01",3.54],["2022-04-01",3.97],["2022-05-01",4.39],["2022-06-01",4.73],["2022-07-01",5.23],["2022-08-01",5.34],["2022-09-01",5.64],["2022-10-01",5.91],["2022-11-01",6.23],["2022-12-01",6.19],["2023-01-01",5.9],["2023-02-01",6.34],["2023-03-01",6.21],["2023-04-01",6.18],["2023-05-01",6.03],["2023-06-01",6.39],["2023-07-01",6.31],["2023-08-01",6.89],["2023-09-01",6.95],["2023-10-01",7.04],["2023-11-01",6.85],["2023-12-01",6.63],["2024-01-01",6.69],["2024-02-01",6.66],["2024-03-01",6.39],["2024-04-01",6.65],["2024-05-01",6.64],["2024-06-01",6.29],["2024-07-01",6.2],["2024-08-01",5.72],["2024-09-01",5.6],["2024-10-01",5.75],["2024-11-01",5.48],["2024-12-01",5.2],["2025-01-01",5.58],["2025-02-01",5.46],["2025-03-01",5.37],["2025-04-01",5.29],["2025-05-01",5.23],["2025-06-01",5.49],["2025-07-01",5.35],["2025-08-01",5.6],["2025-09-01",5.01],["2025-10-01",4.99],["2025-11-01",4.68],["2025-12-01",4.91],["2026-01-01",5.02],["2026-02-01",5.01],["2026-03-01",4.82],["2026-04-01",5.2],["2026-05-01",5.28],["2026-06-01",5.06],["2026-07-01",4.93]]}