Ontario Mortgage Rates

Looking for the best mortgage rates in Ontario?

We've got the goods. Call or chat with our brokers online!

We'll beat any competitor's offer

We really do have the best mortgage rates in Ontario.

In a year of surging growth related to pandemic upheaval and low mortgage rates, Ontario's continued red-hot housing markets continue to draw inventory down to their lowest level on record. Greater Toronto prices keep up their climb, with rural areas and smaller communities jumping in to drive up market pressure across the province.

Whether you're a first-time home buyer, or looking to refinance or find a bigger home β€” getting your lowest rate possible through True North Mortgage can help you save thousands over the life of your investment. Plus, we can tailor your mortgage product and options to find the right solution for your situation. Having a flexible mortgage can help you pay off your mortgage faster, or save you on pre-payment penalties later on.

Did you know? Our rates are lower.

Our True North Mortgage brokers are committed to getting your lowest rates possible in Ontario. Our lowest advertised rates sometimes have conditions and may only be right for specific clients. But we can still offer you great rates compared to your bank that fit your situation.

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. Our mortgage specialists can help you understand what your exact rate will be, with no obligation.

Our large-volume approach gives us an edge on rates and access to a wide selection of lenders β€” in some cases, even with your bank! In fact, a few minutes with us can save you thousands on your home, income property or vacation investment.

Visit us, call or apply online today for your best mortgage solution.

The sooner you contact us, the sooner we can hold your rate.

Ontario rates are at risk of rising β€” we can hold your rate for up to 120 days (depending on the lender). Plus, we can offer you flexible mortgage solutions that fit your needs, all while providing exceptional, unified service.

Get Pre-Approved now

Ontario's most trusted Mortgage Brokers

True North Mortgage has two stores in downtown Toronto, and one in North York, but we can complete your mortgage anywhere you are in Ontario, or Canada, over the phone.

More Ontario mortgage rates

Toronto Mortgage Rates
Ottawa Mortgage Rates
Barrie Mortgage Rates
London Mortgage Rates

Historical Mortgage Rates

For Ontario - Last Updated Jul. 27 2022

5 Year Fixed Rate

4.39% - 5.54%

  2022 (average)

3.40%

3.96%

  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

4.25% - 5.2%

  2022 (average)

1.55%

2.27%

  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 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 β€” online, over the phone or at our store locations.