Canadian Imperial Bank of Commerce Mortgage Rates 2026
CIBC (Canadian Imperial Bank of Commerce) is known for competitive variable-rate mortgages and its flagship Home Power Plan, which is one of the most flexible readvanceable mortgage products available in Canada. CIBC has been recognized for strong mortgage customer satisfaction scores and offers a comprehensive digital pre-approval process.
Current CIBC Mortgage Rates
Rates are indicative and change frequently. Contact CIBC or a broker for a current rate quote with your specific details.
Fixed Rate Mortgages
Variable Rate Mortgages
Pros & Cons
Pros
- Home Power Plan — one of the best readvanceable HELOC products in Canada
- Competitive variable mortgage rates (often best in class among Big 5)
- Good prepayment privileges (20% lump-sum + double-up)
- High mortgage customer satisfaction rankings
- Strong online and mobile experience
Cons
- —Branch network smaller than TD and RBC
- —Home Power Plan uses a collateral charge — harder to switch lenders
- —Fixed rate promotions sometimes lag competitors
CIBC Mortgage FAQs
What is the CIBC Home Power Plan?
The CIBC Home Power Plan is a readvanceable mortgage that combines a mortgage and a HELOC. As you pay down the mortgage, the HELOC limit automatically increases. It is secured by a collateral charge on your home, allowing you to borrow up to 80% of your home's appraised value.
Is CIBC good for variable rate mortgages?
Yes. CIBC often offers among the most competitive variable mortgage rates among the Big 5 banks. Their variable rates are tied to the prime rate and can be converted to fixed at any time without penalty.
Can I break a CIBC mortgage early?
Yes. For variable-rate mortgages, the penalty is 3 months' interest. For fixed-rate, it is the greater of 3 months' interest or the IRD (Interest Rate Differential), which can be substantial if rates have fallen since you took out your mortgage.