Ontario Mortgage Rates
Looking for the best mortgage rates in Ontario?
A place to grow your mortgage savings — with your very best mortgage rate? That's right here, with us. Apply online or call us today.
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In Ontario, your best mortgage rates can save you a lot of cash.
At True North Mortgage, our lower mortgage rates save our clients over $3,000 on average — sometimes up to $15,000 or more, depending on your details.
Our salaried, highly trained True North Mortgage brokers do huge volume, and we pass along a rate discount to lower your rate, sometimes with your own bank. Our rates are proven to be 0.20% lower on average compared to the big banks and other competitors, and have been for years.
It makes sense to ask what we can do for your rate.
Whether you're a first-time home buyer, interested in a vacation or investment property, or looking to refinance or renew — we have exceptional brokers who service your area and can access the lenders and products you need for your best rate and mortgage to save thousands.
Are your mortgage needs more complex? If you don't quite fit the big-bank mold, we also have the flexibility to offer you short-term mortgage solutions that save you time and stress.
Along with the federal stress test, your rate will depend on your down payment percentage compared to the overall mortgage size, your credit score and even your purchase timeline. We can help answer all your questions and outline the details so you can make clearer decisions.
Talk to us. Save your money. We're here for you — visit us, call or apply online today.
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Our rates are 0.20% lower on average compared to everyone else. Prove it? Okay!
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2025 Mortgage Rate Forecast
Continually updated. Where are the economy and rates headed in 2025? CEO Dan Eisner offers…
Learn MoreRates are changing, hold yours now.
Ontario rates are always on the move — we can hold your rate for up to 120 days (depending on the lender). That goes for a new home purchase, renewal or refinance, and you'll get great advice while you think about your next (mortgage) move.
Want to see more Ontario mortgage rates?
Toronto Mortgage Rates
Ottawa Mortgage Rates
Barrie Mortgage Rates
London Mortgage Rates
The key to getting your best rate? Our expert brokers.
Highly trained, with access to thousands of mortgage products for your best fit, our expert brokers are real people who understand how important it is to get your mortgage done right, on time, and at your lowest rate. Think your mortgage details are complicated? We'll make the whole process simple and stress-free — right from the start.
Get exceptional 5-star service today from a broker who knows the (mortgage) deal — and a savings relationship to come back to when you need it.
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Learn MoreHistorical Mortgage Rates
For Ontario - Last Updated Dec 01 2024
5 Year Fixed Rate
4.24% - 5.69%
2024 (average)
4.66%
6.44%
October
4.24%
5.69%
September
4.27%
5.77%
August
4.47%
5.79%
July
4.64%
5.79%
June
4.69%
6.89%
May
4.79%
6.89%
April
4.84%
6.89%
March
4.79%
6.89%
February
4.92%
6.89%
January
4.90%
6.89%
2023 (average)
5.03%
6.33%
December
5.12%
6.89%
November
5.44%
6.89%
October
5.62%
6.89%
September
5.47%
6.89%
August
5.37%
6.89%
July
5.19%
6.39%
June
4.92%
5.95%
May
4.57%
5.84%
April
4.84%
5.84%
March
4.65%
5.84%
February
4.67%
5.84%
January
4.49%
5.84%
2022 (average)
4.03%
4.80%
December
4.69%
5.82%
November
4.92%
5.74%
October
5.01%
5.70%
September
4.44%
5.54%
August
4.34%
5.54%
July
4.52%
5.54%
June
4.37%
5.10%
May
3.89%
4.52%
April
3.74%
4.22%
March
3.14%
3.64%
February
2.74%
3.20%
January
2.52%
3.07%
2021 (average)
1.89%
2.42%
December
2.39%
2.94%
November
2.37%
2.91%
October
2.12%
2.56%
September
1.84%
2.39%
August
1.79%
2.39%
July
1.79%
2.39%
June
1.79%
2.39%
May
1.79%
2.39%
April
1.89%
2.39%
March
1.89%
2.29%
February
1.62%
2.06%
January
1.43%
1.99%
2020 (average)
2.02%
2.43%
December
1.49%
1.99%
November
1.59%
1.99%
October
1.62%
2.04%
September
1.77%
2.05%
August
1.82%
2.22%
July
1.89%
2.39%
June
1.99%
2.42%
May
2.23%
2.65%
April
2.43%
2.88%
March
2.35%
2.68%
February
2.48%
2.86%
January
2.54%
3.02%
2019 (average)
2.77%
3.09%
December
2.58%
2.93%
November
2.40%
2.92%
October
2.52%
2.94%
September
2.45%
2.85%
August
2.49%
2.79%
July
2.57%
2.84%
June
2.66%
2.90%
May
2.84%
3.09%
April
2.92%
3.19%
March
3.15%
3.37%
February
3.32%
3.59%
January
3.30%
3.69%
2018 (average)
3.15%
3.56%
December
3.39%
3.80%
November
3.42%
3.71%
October
3.22%
3.60%
September
3.19%
3.54%
August
3.19%
3.54%
July
3.14%
3.55%
June
3.14%
3.55%
May
3.14%
3.55%
April
3.02%
3.52%
March
3.02%
3.52%
February
3.02%
3.48%
January
2.92%
3.34%
2017 (average)
2.54%
2.86%
December
2.87%
3.19%
November
2.71%
3.16%
October
2.84%
3.22%
September
2.76%
3.16%
August
2.59%
2.99%
July
2.56%
2.78%
June
2.39%
2.49%
May
2.24%
2.54%
April
2.30%
2.62%
March
2.39%
2.72%
February
2.39%
2.72%
January
2.44%
2.74%
2016 (average)
2.30%
2.58%
December
2.42%
2.69%
November
2.20%
2.47%
October
2.11%
2.39%
September
2.14%
2.49%
August
2.28%
2.58%
July
2.28%
2.58%
June
2.28%
2.58%
May
2.34%
2.59%
April
2.34%
2.59%
March
2.34%
2.69%
February
2.39%
2.69%
January
2.49%
2.69%
2015 (average)
2.46%
2.67%
December
2.46%
2.69%
November
2.46%
2.69%
October
2.35%
2.59%
September
2.39%
2.59%
August
2.39%
2.59%
July
2.39%
2.59%
June
2.44%
2.59%
May
2.44%
2.59%
April
2.44%
2.69%
March
2.52%
2.69%
February
2.64%
2.84%
January
2.64%
2.84%
2014 (average)
2.84%
3.03%
December
2.69%
2.89%
November
2.69%
2.89%
October
2.69%
2.94%
September
2.74%
2.99%
August
2.74%
2.99%
July
2.74%
2.99%
June
2.82%
2.99%
May
2.86%
2.99%
April
2.89%
2.99%
March
2.95%
3.11%
February
3.07%
3.29%
January
3.22%
3.29%
5 Year Variable Rate
4.35% - 5.5%
2024 (average)
5.71%
6.96%
October
5.10%
6.20%
September
5.25%
6.45%
August
5.50%
6.70%
July
5.50%
6.70%
June
5.75%
7.05%
May
5.99%
7.30%
April
5.99%
7.30%
March
5.99%
7.30%
February
5.99%
7.30%
January
5.99%
7.30%
2023 (average)
5.77%
6.96%
December
5.99%
7.30%
November
5.99%
7.30%
October
5.99%
7.30%
September
5.99%
7.30%
August
5.99%
7.30%
July
6.00%
7.19%
June
5.75%
6.85%
May
5.50%
6.60%
April
5.50%
6.60%
March
5.50%
6.60%
February
5.50%
6.60%
January
5.50%
6.60%
2022 (average)
2.94%
3.76%
December
5.25%
6.28%
November
4.75%
5.70%
October
4.75%
5.70%
September
4.25%
4.95%
August
3.50%
4.45%
July
3.50%
4.45%
June
2.46%
3.39%
May
1.95%
2.75%
April
1.78%
2.42%
March
1.13%
1.84%
February
0.99%
1.65%
January
0.99%
1.55%
2021 (average)
1.14%
1.58%
December
0.99%
1.55%
November
0.90%
1.55%
October
1.09%
1.55%
September
1.09%
1.55%
August
1.09%
1.55%
July
1.09%
1.55%
June
1.19%
1.55%
May
1.19%
1.55%
April
1.24%
1.55%
March
1.24%
1.55%
February
1.24%
1.65%
January
1.29%
1.75%
2020 (average)
1.91%
2.24%
December
1.38%
1.79%
November
1.55%
1.80%
October
1.55%
1.90%
September
1.63%
1.88%
August
1.67%
2.00%
July
1.79%
2.04%
June
1.79%
2.04%
May
1.96%
2.23%
April
2.01%
2.41%
March
2.24%
2.64%
February
2.70%
3.10%
January
2.70%
3.10%
2019 (average)
2.70%
3.20%
December
2.70%
3.10%
November
2.70%
3.10%
October
2.70%
3.10%
September
2.70%
3.10%
August
2.70%
3.10%
July
2.70%
3.10%
June
2.70%
3.10%
May
2.70%
3.20%
April
2.75%
3.20%
March
2.75%
3.40%
February
2.70%
3.45%
January
2.65%
3.45%
2018 (average)
2.34%
2.89%
December
2.65%
3.35%
November
2.65%
3.25%
October
2.48%
3.02%
September
2.40%
2.80%
August
2.40%
2.80%
July
2.40%
2.80%
June
2.15%
2.60%
May
2.19%
2.55%
April
2.21%
2.85%
March
2.21%
2.85%
February
2.21%
2.85%
January
2.17%
2.94%
2017 (average)
1.90%
2.46%
December
1.98%
2.75%
November
1.98%
2.75%
October
2.05%
2.75%
September
2.15%
2.67%
August
1.90%
2.50%
July
1.95%
2.50%
June
1.75%
2.25%
May
1.75%
2.25%
April
1.78%
2.25%
March
1.80%
2.30%
February
1.80%
2.30%
January
1.90%
2.30%
2016 (average)
2.02%
2.30%
December
1.90%
2.30%
November
1.90%
2.30%
October
1.90%
2.30%
September
1.95%
2.30%
August
1.95%
2.30%
July
1.95%
2.30%
June
2.05%
2.30%
May
2.10%
2.30%
April
2.10%
2.30%
March
2.10%
2.30%
February
2.15%
2.30%
January
2.15%
2.30%
2015 (average)
1.97%
2.19%
December
2.10%
2.20%
November
2.02%
2.16%
October
1.90%
2.05%
September
1.90%
2.05%
August
1.85%
2.05%
July
1.92%
2.25%
June
2.05%
2.25%
May
1.98%
2.25%
April
1.98%
2.25%
March
1.98%
2.25%
February
1.98%
2.25%
January
2.00%
2.30%
2014 (average)
2.29%
2.48%
December
2.20%
2.35%
November
2.20%
2.35%
October
2.24%
2.50%
September
2.24%
2.50%
August
2.24%
2.50%
July
2.27%
2.50%
June
2.33%
2.50%
May
2.32%
2.50%
April
2.32%
2.50%
March
2.35%
2.50%
February
2.35%
2.50%
January
2.40%
2.50%
Ontario needs housing — and comes with a higher-priced market.
It's all about finding the right home and mortgage choice in a Canadian province where many people choose to live but where housing starts are still 'challenged' by taxes (upon taxes) and government red tape.
Ontario's October 2024 housing market activity increased by an impressive 34% year-over-year — up 14% since last month, with Ottawa (+39.3%) and the GTA (34.1%) leading the way. Yet sales are still 12% below the province's 10-year average.
The burst of activity came with a new listings gain of 3.1% year-over-year, taking the inventory level down to 3.1 months (from September's 3.9 months). Both of these stats are well above 10-year averages. The provincial SNLR (sales-to-new-listings ratio) pushed to 48.6% (from last month's 41%), with most Ontario centres showing balanced markets, except for Ottawa and Sudbury as seller's markets.
Expensive home prices in Ontario make it less palatable compared to most of the nation (read that as less affordable), especially for first-time home buyers.
Ontario's average home price notched up 3.1% year-over-year to $887,259 (from last month's $869,697). Only two centres logged price drops, in London and St. Catharines, by -6.6% and -3.4%, respectively. The biggest year-over-year price increases were in the Sudbury (15%), Windsor (7.5%) and Hamilton (5.1%) markets.
How will Ontario housing markets be impacted as interest rates continue their predicted decline into 2025? An impending wall of upcoming mortgage renewals is expected to pressure household budgets and may lead to increased listings, perhaps in time for the anticipated Spring 2025 bustle.
Data Source: Sagen Housing Market Updates
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Ontario Mortgage Rates
Mortgage Rates are different across Canada. Rates are shown based on your location. If you're planning to purchase out-of-province, be sure to choose rates where the property will be located.
Canada Wide Mortgages
True North Mortgage can efficiently complete your mortgage anywhere you are in Canada — online, over the phone or at our store locations.
British Columbia
- Abbotsford ,
- Burnaby ,
- Chilliwack ,
- Coquitlam ,
- Courtenay ,
- Kamloops ,
- Kelowna ,
- Nanaimo ,
- New Westminster ,
- Prince George ,
- Richmond ,
- Saanich ,
- Surrey ,
- Vancouver ,
- Vernon ,
- Victoria ,
- White Rock
Alberta
- Airdrie ,
- Calgary ,
- Edmonton ,
- Fort McMurray ,
- Grande Prairie ,
- Lethbridge ,
- Lloydminster ,
- Medicine Hat ,
- Red Deer
Saskatchewan
Manitoba
Ontario
- Barrie ,
- Belleville ,
- Brampton ,
- Brantford ,
- Burlington ,
- Cornwall ,
- Guelph ,
- Hamilton ,
- Kanata ,
- Kingston ,
- Kitchener ,
- London ,
- Markham ,
- Milton ,
- Mississauga ,
- Niagara Falls ,
- North Bay ,
- Oakville ,
- Oshawa ,
- Ottawa ,
- Peterborough ,
- Sarnia ,
- Sault Ste. Marie ,
- St. Catharines ,
- Sudbury ,
- Thunder Bay ,
- Toronto ,
- Vaughan ,
- Windsor ,
- Woodstock
Quebec
Atlantic Canada
- Charlottetown ,
- Fredericton ,
- Halifax ,
- Moncton ,
- Saint John ,
- St. John's