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Global National - Canadian banks wage war over mortgage ratesBMO Mortgage Rates ; %. 5-yr Fixed ; %. 5-yr Variable ; %. 3-yr Fixed. The current prime rate at BMO is %. BMO Variable Mortgage Rates. BMO variable-rate mortgages have interest rates that change with their prime rate. Explore mortgage loan types, current rates, and calculate your monthly payments. BMO will help you get the mortgage that works for you.