Best 3-year fixed mortgage rates in Ontario.
Today’s best 3-year fixed rate in Ontario is 3.99%. We compare 3-year fixed rates across 50+ Canadian lenders for Ontario and lock your best on one application — no bureau pull to start.
The best 3-year fixed rate in Ontario today is approximately 3.99% — about $3,489/month on Ontario’s benchmark price of $830,000 with 20% down over a 25-year amortization. A 3-year fixed is the hedge term — certainty without locking in a five-year rate at the top of the cycle. 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.
Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Ontario rates →
Ontario mortgage payments by term
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | 4.04% | $3,507/mo |
| 5-Year VariableLowest | 3.60% | $3,350/mo |
| 3-Year Fixed | 3.99% | $3,489/mo |
| 3-Year Variable | 3.65% | $3,368/mo |
| 2-Year Fixed | 4.14% | $3,543/mo |
| 1-Year Fixed | 4.19% | $3,562/mo |
| 4-Year Fixed | 4.09% | $3,525/mo |
| 7-Year Fixed | 4.44% | $3,653/mo |
| 10-Year Fixed | 5.34% | $3,991/mo |
Is a 3-year fixed right for you in Ontario?
Who it suits. Borrowers who want fixed-rate certainty but don't want to commit to five years when they expect rates to be lower at renewal. It's a popular middle path for renewers in a falling-rate environment and for anyone whose plans (a move, a growing family, a career change) sit roughly three years out.
What drives the rate. The 3-year fixed follows the 3-year Government of Canada bond. When markets price in rate cuts, the 3-year often sits below the 5-year fixed — letting you lock a payment now and re-shop sooner, closer to the bottom of the cycle.
Breaking it early. Like all fixed terms it uses the greater of three months' interest or IRD, but because the term is shorter the IRD window shrinks faster, so the penalty tends to be smaller than a 5-year fixed's by the back half of the term.
The most popular shorter fixed term, and rising whenever cuts are expected. You give up two years of locked certainty to keep the option of renewing into a lower rate sooner.
What’s specific to Ontario
The Ontario rate market. 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.
Top Ontario lenders to compare. Ontario’s 3-year fixed pricing is shaped by a distinct lender mix — TD, RBC, Scotiabank, MCAP, First National and others all bid for files here, and we shop the whole panel on one application. 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.
Closing costs. On top of the rate, budget for ontario land transfer tax (ltt) — tiered tax of 0.5%–2.5% on purchase price, calculated at closing on the entire amount. First-time buyers can claim up to $4,000 in Ontario LTT rebate; Toronto purchases stack an additional municipal $4,475 FTHB rebate. Run the full number in our Ontario land transfer tax calculator.
A worked example for Ontario
On Ontario’s benchmark price of $830,000 with 20% down ($166,000), the mortgage is $664,000. At today’s best 3-year fixed rate of 3.99% over a 25-year amortization, that’s about $3,489/month using Canadian semi-annual compounding. That payment is locked for the full term. Model your own price in the payment calculator.
Whatever your situation in Ontario
First home, renewal, refinance, self-employed or bruised credit — there's a 3-year fixed path for your file, with the same 50+ lender network.
First-time buyers
5% down to your first Ontario home, with FHSA + RRSP HBP optimization.
Refinancing
Unlock Ontario equity for renovations, debt consolidation, or investing.
Renewing
Don't auto-renew — most clients beat their bank's first offer by 30-60 bps.
Self-employed
Business-for-self files priced right — A-lender, alt-A and private compared.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
New to Canada
Newcomer programs at the big banks; international credit accepted.
6 reasons to lock your Ontario 3-year fixed rate through a broker
Why Ontario borrowers shop the whole market instead of signing their bank's first 3-year fixed offer.
50+ lenders compete — not one
A Ontario bank shows you a single 3-year fixed rate sheet. We put your file in front of 50+ lenders who bid for it, then pass on the volume pricing we hold as a brokerage.
Broker-channel pricing
The wholesale rate brokers access is typically 15-30 bps below a bank's posted rate — you can't get it walking into a branch.
Built for the Ontario market
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.
Your rate held 90-120 days
A pre-approval locks today's 3-year fixed rate while you shop — and many lenders honour a drop if rates fall before you close.
No bureau pull to start
We can shop your Ontario 3-year fixed rate and pre-qualify you without a hard credit check, so comparing costs you nothing.
Best-rate guarantee
We'll beat any comparable Big-6 3-year fixed offer or pay you $500 — and our advice is free, because the lender pays our commission on funding.
Why shop your Ontario 3-year fixed rate with us
- 50+ lenders on one application — banks, monolines, and Ontario credit unions like TD and RBC.
- Broker-channel rates 15-30 bps below posted, only a brokerage can access.
- Ontario-specific guidance — land transfer tax, rebates, and local lender fit built in.
- FSRA-licensed advice in 50+ languages, online or in person.