Ontario mortgage rates.
Canada's largest mortgage market — GTA price stratification, Big-6 + monoline dominance, and FSRA-licensed brokerages competing aggressively on rate.
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Ontario rates by term
Compare the best Ontario rate for each term — fixed and variable.
Ontario has the deepest lender competition in Canada — every monoline (MCAP, First National, RFA, B2B Bank), every Big-6, and 25+ credit unions actively bid. This typically produces the sharpest discount-rate offers in the country.
Foreign-buyer rules: Non-Resident Speculation Tax (NRST) of 25% applies to foreign buyers province-wide; combined with the federal foreign-buyer ban (extended to 2027), foreign purchases are largely paused.
Mortgage brokers in Ontario
Same FSRA license, same 100+ lender network — applied to each Ontario market.
Ontario is not one market, and the file mix changes street by street. Toronto and Vaughan run on price stratification and multi-generational buying; Hamilton is investor and multiplex territory; the Halton belt west of the city is dominated by established owners rather than first purchases — a mortgage broker in Burlington, Ontario spends far more of the week on renewals, refinances and equity take-outs than on first-time files. Pick your market below for local prices, lender notes and closing-cost figures.
Today’s rate read · Ontario
AI-generated from the live board · live feed · as of 2026-08-19T05:06:01.874Z
The best 5-year fixed mortgage rate is currently 4.09%, while the best 5-year variable rate is 3.55%, which means fixed rates are higher by 54 basis points compared to variable rates. The lender's prime rate is 5.95%, influenced by the Bank of Canada's current overnight rate of 4.25%, indicating a trend towards lower borrowing costs in the future.
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Ontario mortgage rates — common questions.
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Rates in other provinces
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