{"series":{"id":"cre-mortgage-rate-outstanding","label":"Chartered bank rate on outstanding non-residential mortgage loans to businesses","description":"Volume-weighted average interest rate on chartered banks' outstanding balances of non-residential mortgage loans to businesses at month-end.","unit":"percent","frequency":"monthly","category":"mortgage","citation":"Source: Bank of Canada (Valet series V122667825)","derived":false,"formula":null,"first_date":"2016-07-01","latest":{"date":"2026-07-01","value":4.68},"csv_url":"https://data.spheracredit.com/api/v1/series/cre-mortgage-rate-outstanding.csv","methodology":{"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\").","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\".","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 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.\""],"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 V122667825","url":"https://www.bankofcanada.ca/valet/series/V122667825/json"}]}},"observations":[["2016-07-01",3.61],["2016-08-01",3.6],["2016-09-01",3.58],["2016-10-01",3.57],["2016-11-01",3.55],["2016-12-01",3.55],["2017-01-01",3.55],["2017-02-01",3.55],["2017-03-01",3.54],["2017-04-01",3.52],["2017-05-01",3.51],["2017-06-01",3.4],["2017-07-01",3.55],["2017-08-01",3.57],["2017-09-01",3.61],["2017-10-01",3.61],["2017-11-01",3.62],["2017-12-01",3.61],["2018-01-01",3.67],["2018-02-01",3.69],["2018-03-01",3.71],["2018-04-01",3.73],["2018-05-01",3.75],["2018-06-01",3.77],["2018-07-01",3.82],["2018-08-01",3.84],["2018-09-01",3.86],["2018-10-01",3.9],["2018-11-01",3.97],["2018-12-01",3.99],["2019-01-01",4.01],["2019-02-01",3.98],["2019-03-01",4.01],["2019-04-01",4],["2019-05-01",4],["2019-06-01",4],["2019-07-01",4],["2019-08-01",3.99],["2019-09-01",3.98],["2019-10-01",3.97],["2019-11-01",3.97],["2019-12-01",3.96],["2020-01-01",3.96],["2020-02-01",3.95],["2020-03-01",3.72],["2020-04-01",3.67],["2020-05-01",3.62],["2020-06-01",3.61],["2020-07-01",3.59],["2020-08-01",3.57],["2020-09-01",3.55],["2020-10-01",3.53],["2020-11-01",3.5],["2020-12-01",3.46],["2021-01-01",3.44],["2021-02-01",3.42],["2021-03-01",3.29],["2021-04-01",3.37],["2021-05-01",3.35],["2021-06-01",3.33],["2021-07-01",3.32],["2021-08-01",3.31],["2021-09-01",3.29],["2021-10-01",3.28],["2021-11-01",3.27],["2021-12-01",3.26],["2022-01-01",3.26],["2022-02-01",3.27],["2022-03-01",3.33],["2022-04-01",3.45],["2022-05-01",3.5],["2022-06-01",3.66],["2022-07-01",3.94],["2022-08-01",4.01],["2022-09-01",4.24],["2022-10-01",4.43],["2022-11-01",4.5],["2022-12-01",4.69],["2023-01-01",4.8],["2023-02-01",4.84],["2023-03-01",4.89],["2023-04-01",4.92],["2023-05-01",4.95],["2023-06-01",5.02],["2023-07-01",5.13],["2023-08-01",5.17],["2023-09-01",5.2],["2023-10-01",5.23],["2023-11-01",5.26],["2023-12-01",5.29],["2024-01-01",5.3],["2024-02-01",5.32],["2024-03-01",5.32],["2024-04-01",5.34],["2024-05-01",5.35],["2024-06-01",5.32],["2024-07-01",5.3],["2024-08-01",5.29],["2024-09-01",5.24],["2024-10-01",5.15],["2024-11-01",5.15],["2024-12-01",5.05],["2025-01-01",5.11],["2025-02-01",5.09],["2025-03-01",4.93],["2025-04-01",4.91],["2025-05-01",4.92],["2025-06-01",4.91],["2025-07-01",4.88],["2025-08-01",4.87],["2025-09-01",4.81],["2025-10-01",4.77],["2025-11-01",4.75],["2025-12-01",4.73],["2026-01-01",4.71],["2026-02-01",4.7],["2026-03-01",4.69],["2026-04-01",4.7],["2026-05-01",4.69],["2026-06-01",4.65],["2026-07-01",4.68]]}